Zacks Investment Management Purchases 10,125 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Zacks Investment Management grew its position in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 13.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,703 shares of the medical research company's stock after purchasing an additional 10,125 shares during the period. Zacks Investment Management owned approximately 0.10% of Laboratory Co. of America worth $19,600,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. SouthState Corp purchased a new stake in Laboratory Co. of America in the third quarter valued at approximately $28,000. Horizon Bancorp Inc. IN purchased a new stake in shares of Laboratory Co. of America during the 3rd quarter valued at $29,000. Industrial Alliance Investment Management Inc. bought a new stake in shares of Laboratory Co. of America during the 2nd quarter worth $27,000. Innealta Capital LLC purchased a new position in Laboratory Co. of America in the second quarter worth $32,000. Finally, Riverview Trust Co increased its stake in Laboratory Co. of America by 172.6% in the third quarter. Riverview Trust Co now owns 169 shares of the medical research company's stock valued at $38,000 after acquiring an additional 107 shares during the last quarter. Institutional investors own 95.94% of the company's stock.

Insider Activity at Laboratory Co. of America

In related news, CMO Amy B. Summy sold 3,672 shares of the firm's stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $238.91, for a total transaction of $877,277.52. Following the completion of the transaction, the chief marketing officer now owns 4,318 shares of the company's stock, valued at $1,031,613.38. This trade represents a 45.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kerrii B. Anderson sold 1,000 shares of Laboratory Co. of America stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $230.00, for a total value of $230,000.00. Following the transaction, the director now owns 13,722 shares of the company's stock, valued at $3,156,060. The trade was a 6.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,572 shares of company stock worth $5,910,209 over the last ninety days. 0.85% of the stock is owned by corporate insiders.

Laboratory Co. of America Trading Down 1.0 %

NYSE LH traded down $2.33 on Friday, hitting $232.57. The company's stock had a trading volume of 392,454 shares, compared to its average volume of 634,482. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66. The firm has a market cap of $19.45 billion, a P/E ratio of 44.98, a PEG ratio of 1.95 and a beta of 1.05. The company's 50-day simple moving average is $229.29 and its 200 day simple moving average is $219.30. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $247.99.

Laboratory Co. of America (NYSE:LH - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The medical research company reported $3.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.48 by $0.02. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same period in the previous year, the firm earned $3.38 EPS. The company's quarterly revenue was up 7.4% compared to the same quarter last year. Research analysts predict that Laboratory Co. of America Holdings will post 14.52 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, November 26th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Tuesday, November 26th. Laboratory Co. of America's payout ratio is presently 55.71%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Hsbc Global Res raised Laboratory Co. of America from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 30th. Barclays boosted their target price on Laboratory Co. of America from $234.00 to $249.00 and gave the stock an "equal weight" rating in a research report on Friday, October 25th. Evercore ISI reduced their price target on shares of Laboratory Co. of America from $250.00 to $240.00 and set an "in-line" rating on the stock in a research report on Tuesday, September 24th. HSBC upgraded shares of Laboratory Co. of America from a "hold" rating to a "buy" rating in a report on Wednesday, October 30th. Finally, StockNews.com lowered shares of Laboratory Co. of America from a "buy" rating to a "hold" rating in a report on Friday, October 25th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $255.92.

Laboratory Co. of America Profile

Labcorp Holdings Inc provides laboratory services. It operates through two segments, Diagnostics Laboratories and Biopharma Laboratory Services. The company offers various tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid, PAP, hemoglobin A1C and vitamin D, prostate-specific antigens, sexually transmitted diseases, hepatitis C, microbiology cultures and procedures, and alcohol and other substance-abuse tests.