UMB Bank n.a. Buys New Position in Laboratory Co. of America Holdings (NYSE:LH)

UMB Bank n.a. purchased a new position in Laboratory Co. of America Holdings (NYSE:LH) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 375 shares of the medical research company’s stock, valued at approximately $84,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LH. Pathway Financial Advisers LLC purchased a new position in shares of Laboratory Co. of America in the 1st quarter worth about $30,000. Industrial Alliance Investment Management Inc. bought a new position in Laboratory Co. of America in the 2nd quarter worth approximately $27,000. Innealta Capital LLC purchased a new position in shares of Laboratory Co. of America in the second quarter valued at $32,000. Family Firm Inc. bought a new stake in shares of Laboratory Co. of America during the second quarter valued at about $37,000. Finally, McClarren Financial Advisors Inc. lifted its stake in Laboratory Co. of America by 313.2% in the 1st quarter. McClarren Financial Advisors Inc. now owns 219 shares of the medical research company’s stock worth $48,000 after purchasing an additional 166 shares in the last quarter. 95.94% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LH has been the subject of several research reports. Barclays upped their target price on shares of Laboratory Co. of America from $213.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Evercore ISI decreased their price objective on Laboratory Co. of America from $250.00 to $240.00 and set an “in-line” rating on the stock in a report on Tuesday, September 24th. Jefferies Financial Group upped their target price on Laboratory Co. of America from $245.00 to $265.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Piper Sandler began coverage on shares of Laboratory Co. of America in a report on Tuesday, October 1st. They issued a “neutral” rating and a $235.00 price objective for the company. Finally, Robert W. Baird increased their target price on shares of Laboratory Co. of America from $278.00 to $282.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Laboratory Co. of America currently has an average rating of “Moderate Buy” and an average price target of $253.00.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 15,000 shares of Laboratory Co. of America stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $223.99, for a total transaction of $3,359,850.00. Following the completion of the transaction, the chief financial officer now owns 31,289 shares in the company, valued at approximately $7,008,423.11. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 15,000 shares of the firm’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 completion of the sale, the chief financial officer now directly 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 can be accessed through this hyperlink. Also, EVP Lance Berberian sold 12,093 shares of Laboratory Co. of America stock in a transaction dated 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 trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,679 shares of company stock valued at $6,716,306. Corporate insiders own 0.85% of the company’s stock.

Laboratory Co. of America Trading Up 0.7 %

LH opened at $216.39 on Monday. The company has a quick ratio of 0.77, a current ratio of 0.88 and a debt-to-equity ratio of 0.39. Laboratory Co. of America Holdings has a 52 week low of $191.97 and a 52 week high of $238.46. The stock has a market cap of $18.24 billion, a PE ratio of 43.54, a PEG ratio of 1.67 and a beta of 1.05. The business has a 50 day moving average of $223.63 and a 200-day moving average of $211.97.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings data on Thursday, August 1st. The medical research company reported $3.94 EPS for the quarter, beating the consensus estimate of $3.78 by $0.16. The business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.19 billion. Laboratory Co. of America had a return on equity of 15.39% and a net margin of 3.60%. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter last year, the firm posted $3.42 earnings per share. Equities research analysts predict that Laboratory Co. of America Holdings will post 14.56 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders 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 is Tuesday, November 26th. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 57.95%.

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.