Laboratory Co. of America Holdings (NYSE:LH) Shares Bought by True Wealth Design LLC

True Wealth Design LLC lifted its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 3,660.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 188 shares of the medical research company’s stock after buying an additional 183 shares during the period. True Wealth Design LLC’s holdings in Laboratory Co. of America were worth $42,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Industrial Alliance Investment Management Inc. purchased a new position in Laboratory Co. of America during the second quarter valued at $27,000. SouthState Corp acquired a new position in shares of Laboratory Co. of America during the 3rd quarter worth about $28,000. Horizon Bancorp Inc. IN purchased a new position in Laboratory Co. of America in the 3rd quarter valued at about $29,000. Innealta Capital LLC purchased a new position in Laboratory Co. of America in the 2nd quarter valued at about $32,000. Finally, Family Firm Inc. acquired a new stake in Laboratory Co. of America in the 2nd quarter worth about $37,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Stock Down 0.4 %

LH stock opened at $241.16 on Monday. The firm has a market cap of $20.17 billion, a PE ratio of 46.65, a PEG ratio of 1.98 and a beta of 1.05. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year high of $247.99. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.44. The firm’s 50 day moving average price is $227.70 and its 200-day moving average price is $218.25.

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. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.26 billion. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.38 earnings per share. On average, equities research analysts anticipate 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 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. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend is Tuesday, November 26th. Laboratory Co. of America’s dividend payout ratio is presently 55.71%.

Analyst Ratings Changes

LH has been the subject of a number of research analyst reports. Hsbc Global Res raised Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. 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. Piper Sandler lifted their target price on shares of 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. Barclays increased their target price on shares of Laboratory Co. of America from $234.00 to $249.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Finally, Evercore ISI lowered their price target on shares of Laboratory Co. of America from $250.00 to $240.00 and set an “in-line” rating on the stock in a research report on Tuesday, September 24th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $255.92.

Insider Buying and Selling at Laboratory Co. of America

In related news, CMO Amy B. Summy sold 3,672 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $238.91, for a total transaction of $877,277.52. Following the completion of the transaction, the chief marketing officer now directly owns 4,318 shares in the company, valued at $1,031,613.38. This trade represents a 45.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Adam H. Schechter sold 6,189 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $243.47, for a total transaction of $1,506,835.83. Following the sale, the chief executive officer now owns 87,441 shares in the company, valued at $21,289,260.27. This trade represents a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,861 shares of company stock worth $2,853,533 over the last three months. Insiders own 0.85% of the company’s stock.

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.