Laboratory Co. of America Holdings (NYSE:LH) Shares Purchased by Pathstone Holdings LLC

Pathstone Holdings LLC raised its stake in Laboratory Co. of America Holdings (NYSE:LH) by 124.5% in the third quarter, HoldingsChannel reports. The fund owned 10,165 shares of the medical research company’s stock after purchasing an additional 5,637 shares during the period. Pathstone Holdings LLC’s holdings in Laboratory Co. of America were worth $2,272,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of LH. Horizon Bancorp Inc. IN acquired a new stake in shares of Laboratory Co. of America during the 3rd quarter valued at about $29,000. Pathway Financial Advisers LLC purchased a new stake in shares of Laboratory Co. of America in the first quarter valued at approximately $30,000. Industrial Alliance Investment Management Inc. acquired a new position in shares of Laboratory Co. of America during the 2nd quarter worth approximately $27,000. Innealta Capital LLC purchased a new position in shares of Laboratory Co. of America during the 2nd quarter valued at approximately $32,000. Finally, Riverview Trust Co grew its stake in Laboratory Co. of America by 172.6% in the 3rd 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 period. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Price Performance

NYSE:LH opened at $238.73 on Wednesday. The company has a market capitalization of $19.97 billion, a P/E ratio of 46.18, a P/E/G ratio of 1.97 and a beta of 1.05. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.66. Laboratory Co. of America Holdings has a 52 week low of $191.97 and a 52 week high of $247.99. The stock’s fifty day moving average is $226.67 and its two-hundred day moving average is $217.61.

Laboratory Co. of America (NYSE:LH) last posted its earnings results 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. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter in the prior year, the company posted $3.38 earnings per share. Laboratory Co. of America’s revenue for the quarter was up 7.4% compared to the same quarter last year. Equities analysts expect that Laboratory Co. of America Holdings will post 14.53 EPS for the current year.

Laboratory Co. of America Announces Dividend

The business also recently announced 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. The ex-dividend date is Tuesday, November 26th. This represents a $2.88 annualized dividend and a yield of 1.21%. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 55.71%.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, CMO Amy B. Summy sold 3,672 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $238.91, for a total value of $877,277.52. Following the completion of the transaction, the chief marketing officer now owns 4,318 shares in the company, valued at $1,031,613.38. The trade was a 45.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Kerrii B. Anderson sold 1,000 shares of the 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 completion of the sale, the director now owns 13,722 shares in the company, valued at approximately $3,156,060. The trade was a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,861 shares of company stock valued at $2,853,533 over the last quarter. 0.85% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on LH shares. Jefferies Financial Group upped their price objective on shares of Laboratory Co. of America from $245.00 to $265.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Hsbc Global Res raised shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Barclays boosted their price objective on Laboratory Co. of America from $234.00 to $249.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. HSBC raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Finally, Robert W. Baird increased their price objective on Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Laboratory Co. of America presently 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.