Cwm LLC Boosts Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

Cwm LLC lifted its position in Laboratory Co. of America Holdings (NYSE:LH) by 41.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,107 shares of the medical research company’s stock after purchasing an additional 2,068 shares during the quarter. Cwm LLC’s holdings in Laboratory Co. of America were worth $1,588,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in Laboratory Co. of America by 43.3% during the third quarter. GAMMA Investing LLC now owns 1,601 shares of the medical research company’s stock valued at $358,000 after purchasing an additional 484 shares during the period. Czech National Bank lifted its holdings in shares of Laboratory Co. of America by 6.5% in the 3rd quarter. Czech National Bank now owns 17,104 shares of the medical research company’s stock valued at $3,822,000 after buying an additional 1,040 shares during the period. Park Avenue Securities LLC acquired a new position in shares of Laboratory Co. of America in the 3rd quarter valued at about $1,189,000. SG Americas Securities LLC boosted its stake in shares of Laboratory Co. of America by 183.1% in the third quarter. SG Americas Securities LLC now owns 88,988 shares of the medical research company’s stock worth $19,887,000 after buying an additional 57,553 shares during the last quarter. Finally, AMF Tjanstepension AB grew its holdings in Laboratory Co. of America by 37.0% during the third quarter. AMF Tjanstepension AB now owns 86,026 shares of the medical research company’s stock worth $19,232,000 after acquiring an additional 23,221 shares during the period. Institutional investors and hedge funds own 95.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on LH shares. Evercore ISI decreased their price target on Laboratory Co. of America from $250.00 to $240.00 and set an “in-line” rating for the company in a report on Tuesday, September 24th. Jefferies Financial Group increased their price target on shares of Laboratory Co. of America from $245.00 to $265.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. StockNews.com cut shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Monday, October 7th. UBS Group upped their price objective on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Truist Financial raised their target price on Laboratory Co. of America from $255.00 to $275.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $253.00.

Laboratory Co. of America Stock Down 0.1 %

Shares of NYSE:LH opened at $216.68 on Wednesday. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $238.46. The company has a quick ratio of 0.77, a current ratio of 0.88 and a debt-to-equity ratio of 0.39. The business has a fifty day moving average of $223.22 and a two-hundred day moving average of $211.94. The stock has a market cap of $18.27 billion, a P/E ratio of 43.60, a PEG ratio of 1.67 and a beta of 1.05.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings data on Thursday, August 1st. The medical research company reported $3.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.78 by $0.16. The firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.19 billion. Laboratory Co. of America had a net margin of 3.60% and a return on equity of 15.39%. Laboratory Co. of America’s revenue was up 6.2% compared to the same quarter last year. During the same period last year, the business earned $3.42 earnings per share. On average, research analysts expect that Laboratory Co. of America Holdings will post 14.56 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, November 26th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend is Tuesday, November 26th. Laboratory Co. of America’s dividend payout ratio is presently 57.95%.

Insider Buying and Selling

In other news, CFO Glenn A. Eisenberg sold 15,000 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $223.99, for a total value of $3,359,850.00. Following the transaction, the chief financial officer now owns 31,289 shares of the company’s stock, valued at $7,008,423.11. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Glenn A. Eisenberg sold 15,000 shares of Laboratory Co. of America stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $223.99, for a total value of $3,359,850.00. Following the completion of the sale, the chief financial officer now owns 31,289 shares in the company, valued at approximately $7,008,423.11. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kerrii B. Anderson sold 586 shares of Laboratory Co. of America stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $225.00, for a total value of $131,850.00. Following the completion of the transaction, the director now directly owns 14,722 shares of the company’s stock, valued at approximately $3,312,450. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,679 shares of company stock worth $6,716,306. Company insiders own 0.85% of the company’s stock.

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.