Laboratory Co. of America Holdings (NYSE:LH) Shares Acquired by Forsta AP Fonden

Forsta AP Fonden raised its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 17.8% in the 3rd quarter, Holdings Channel reports. The firm owned 18,500 shares of the medical research company’s stock after purchasing an additional 2,800 shares during the quarter. Forsta AP Fonden’s holdings in Laboratory Co. of America were worth $4,134,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of LH. Pathway Financial Advisers LLC bought a new position in Laboratory Co. of America in the first quarter worth about $30,000. Industrial Alliance Investment Management Inc. bought a new position in Laboratory Co. of America in the second quarter worth about $27,000. Innealta Capital LLC bought a new position in Laboratory Co. of America in the second quarter worth about $32,000. Riverview Trust Co lifted its holdings 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 worth $38,000 after acquiring an additional 107 shares during the last quarter. Finally, Family Firm Inc. bought a new position in Laboratory Co. of America in the second quarter worth about $37,000. 95.94% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 1,000 shares of Laboratory Co. of America stock in a transaction that occurred 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 in the company, valued at approximately $3,156,060. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Kerrii B. Anderson sold 1,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 13,722 shares of the company’s stock, valued at approximately $3,156,060. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Lance Berberian sold 12,093 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $229.10, for a total transaction of $2,770,506.30. Following the completion of the transaction, the executive vice president now directly owns 15,921 shares of the company’s stock, valued at $3,647,501.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,679 shares of company stock worth $6,946,306. 0.85% of the stock is owned by insiders.

Laboratory Co. of America Price Performance

NYSE LH opened at $228.09 on Wednesday. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $239.50. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.44 and a quick ratio of 1.30. The firm has a market capitalization of $19.15 billion, a PE ratio of 44.12, a P/E/G ratio of 1.77 and a beta of 1.05. The company’s 50 day simple moving average is $222.68 and its 200 day simple moving average is $212.75.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings data on Thursday, October 24th. The medical research company reported $3.50 EPS for the quarter, beating analysts’ consensus estimates of $3.48 by $0.02. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.26 billion. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the business earned $3.38 earnings per share. As a group, equities research analysts forecast that Laboratory Co. of America Holdings will post 14.53 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, November 26th will be given a $0.72 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $2.88 annualized dividend and a yield of 1.26%. Laboratory Co. of America’s dividend payout ratio (DPR) is 55.71%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on LH shares. Piper Sandler raised their price target on shares of Laboratory Co. of America from $235.00 to $240.00 and gave the company a “neutral” rating in a research note on Monday. Evercore ISI dropped 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 note on Tuesday, September 24th. Barclays raised their price target on shares of Laboratory Co. of America from $234.00 to $249.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. UBS Group raised their price target on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, Jefferies Financial Group raised their price target on shares of Laboratory Co. of America from $245.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $253.92.

Laboratory Co. of America Company 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.