Leavell Investment Management Inc. Has $1.32 Million Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Leavell Investment Management Inc. raised its position in Laboratory Co. of America Holdings (NYSE:LH) by 2.4% during the third quarter, Holdings Channel reports. The firm owned 5,908 shares of the medical research company’s stock after purchasing an additional 139 shares during the period. Leavell Investment Management Inc.’s holdings in Laboratory Co. of America were worth $1,320,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of LH. Insight Inv LLC grew its stake in Laboratory Co. of America by 1.3% during the second quarter. Insight Inv LLC now owns 3,530 shares of the medical research company’s stock worth $718,000 after purchasing an additional 45 shares during the period. Athena Investment Management increased its stake in shares of Laboratory Co. of America by 4.8% in the 2nd quarter. Athena Investment Management now owns 1,040 shares of the medical research company’s stock valued at $212,000 after acquiring an additional 48 shares in the last quarter. Concord Wealth Partners increased its stake in shares of Laboratory Co. of America by 43.3% in the 3rd quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock valued at $38,000 after acquiring an additional 52 shares in the last quarter. Pure Financial Advisors LLC lifted its position in shares of Laboratory Co. of America by 5.1% during the 2nd quarter. Pure Financial Advisors LLC now owns 1,089 shares of the medical research company’s stock valued at $222,000 after acquiring an additional 53 shares during the period. Finally, SP Asset Management LLC boosted its stake in Laboratory Co. of America by 0.4% during the second quarter. SP Asset Management LLC now owns 15,096 shares of the medical research company’s stock worth $3,072,000 after acquiring an additional 56 shares in the last quarter. 95.94% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 1,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $230.00, for a total transaction of $230,000.00. Following the sale, the director now directly owns 13,722 shares of the company’s stock, valued at $3,156,060. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Glenn A. Eisenberg sold 15,000 shares of the business’s 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 sale, the chief financial officer now directly owns 31,289 shares in the company, valued at approximately $7,008,423.11. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kerrii B. Anderson sold 1,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was 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 represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,000 shares of company stock valued at $4,043,950. 0.85% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on LH shares. Evercore ISI dropped their price objective on shares of 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. Piper Sandler upped their price target on Laboratory Co. of America from $235.00 to $240.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. HSBC raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. 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 report on Monday, September 23rd. Finally, Truist Financial increased their target price on Laboratory Co. of America from $255.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $255.92.

Laboratory Co. of America Price Performance

LH opened at $242.39 on Friday. The firm has a market cap of $20.27 billion, a P/E ratio of 46.88, a PEG ratio of 1.93 and a beta of 1.05. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.44. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $243.78. The firm has a 50-day moving average of $223.02 and a 200 day moving average of $214.30.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share (EPS) for the quarter, topping 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 company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same quarter last year, the business posted $3.38 EPS. Laboratory Co. of America’s quarterly revenue was up 7.4% compared to the same quarter last year. On average, research analysts expect that Laboratory Co. of America Holdings will post 14.53 EPS for the current year.

Laboratory Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, November 26th will be paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $2.88 annualized dividend and a dividend yield of 1.19%. Laboratory Co. of America’s payout ratio is 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.