State of Alaska Department of Revenue Has $3.24 Million Position in Laboratory Co. of America Holdings (NYSE:LH)

State of Alaska Department of Revenue lowered its stake in Laboratory Co. of America Holdings (NYSE:LH) by 20.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,507 shares of the medical research company’s stock after selling 3,830 shares during the period. State of Alaska Department of Revenue’s holdings in Laboratory Co. of America were worth $3,240,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of LH. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Laboratory Co. of America in the second quarter valued at approximately $27,000. Horizon Bancorp Inc. IN acquired a new stake in shares of Laboratory Co. of America in the third quarter valued at approximately $29,000. Pathway Financial Advisers LLC acquired a new stake in Laboratory Co. of America during the 1st quarter worth $30,000. Innealta Capital LLC acquired a new stake in Laboratory Co. of America during the 2nd quarter worth $32,000. Finally, Family Firm Inc. acquired a new stake in Laboratory Co. of America during the 2nd quarter worth $37,000. Institutional investors and hedge funds own 95.94% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Truist Financial lifted their target price on shares of Laboratory Co. of America from $255.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Piper Sandler lifted their price target on shares of Laboratory Co. of America from $235.00 to $240.00 and gave the stock a “neutral” rating in a research report on Monday. Barclays lifted their price target on shares of 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. UBS Group lifted their price target 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, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Laboratory Co. of America from $220.00 to $230.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $253.92.

Insiders Place Their Bets

In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $227.05, for a total transaction of $454,100.00. Following the sale, the executive vice president now directly owns 3,670 shares of the company’s stock, valued at $833,273.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CFO Glenn A. Eisenberg sold 15,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $223.99, for a total transaction of $3,359,850.00. Following the transaction, the chief financial officer now directly owns 31,289 shares in the company, valued at $7,008,423.11. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Der Vaart Sandra D. Van sold 2,000 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $227.05, for a total transaction of $454,100.00. Following the transaction, the executive vice president now owns 3,670 shares in the company, valued at $833,273.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,679 shares of company stock valued at $6,946,306 in the last three months. 0.85% of the stock is currently owned by corporate insiders.

Laboratory Co. of America Trading Up 1.1 %

LH opened at $230.56 on Thursday. The stock has a market capitalization of $19.36 billion, a P/E ratio of 44.60, a P/E/G ratio of 1.77 and a beta of 1.05. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $239.50. The firm’s fifty day simple moving average is $222.71 and its 200 day simple moving average is $212.87. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66.

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 the consensus estimate 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 analysts’ expectations of $3.26 billion. During the same period in the previous year, the firm posted $3.38 EPS. The firm’s revenue was up 7.4% compared to the same quarter last year. As a group, research analysts anticipate that Laboratory Co. of America Holdings will post 14.53 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

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 dividend of $0.72 per share. The ex-dividend date is Tuesday, November 26th. This represents a $2.88 annualized dividend and a yield of 1.25%. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 55.71%.

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.