2,667 Shares in Laboratory Co. of America Holdings (NYSE:LH) Purchased by Quantbot Technologies LP

Quantbot Technologies LP bought a new stake in Laboratory Co. of America Holdings (NYSE:LH) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,667 shares of the medical research company’s stock, valued at approximately $596,000.

Other hedge funds also recently bought and sold shares of the company. SouthState Corp acquired a new position in shares of Laboratory Co. of America in the 3rd quarter worth approximately $28,000. Horizon Bancorp Inc. IN acquired a new position in Laboratory Co. of America during the third quarter worth $29,000. Industrial Alliance Investment Management Inc. purchased a new position in shares of Laboratory Co. of America during the second quarter worth $27,000. Innealta Capital LLC acquired a new stake in shares of Laboratory Co. of America in the second quarter valued at $32,000. Finally, Riverview Trust Co raised its holdings in shares of 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 buying 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 Trading Down 0.2 %

Shares of Laboratory Co. of America stock opened at $240.69 on Tuesday. 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 company has a fifty day simple moving average of $228.01 and a 200-day simple moving average of $218.44. The stock has a market cap of $20.13 billion, a price-to-earnings ratio of 46.55, a PEG ratio of 1.98 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 $247.99.

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, topping analysts’ consensus estimates of $3.48 by $0.02. The business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.26 billion. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The business’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.38 earnings per share. On average, equities 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. Investors of record on Tuesday, November 26th will be given a $0.72 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $2.88 annualized dividend and a yield of 1.20%. Laboratory Co. of America’s dividend payout ratio (DPR) is 55.71%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Robert W. Baird lifted their target price on Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. HSBC upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. 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 report on Monday, September 23rd. Bank of America upped their price objective on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, Piper Sandler lifted their target price on Laboratory Co. of America from $235.00 to $240.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $255.92.

Insider Buying and Selling

In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 1,000 shares of Laboratory Co. of America stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $239.42, for a total value of $239,420.00. Following the transaction, the executive vice president now directly owns 2,670 shares in the company, valued at approximately $639,251.40. This trade represents a 27.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Adam H. Schechter sold 6,189 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $243.47, for a total value of $1,506,835.83. Following the sale, the chief executive officer now owns 87,441 shares of the company’s stock, valued at $21,289,260.27. This trade represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,861 shares of company stock worth $2,853,533 in the last 90 days. 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.