State Street Corp Acquires 25,469 Shares of Laboratory Co. of America Holdings (NYSE:LH)

State Street Corp increased its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 0.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,726,627 shares of the medical research company’s stock after buying an additional 25,469 shares during the quarter. State Street Corp owned 4.46% of Laboratory Co. of America worth $832,827,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Industrial Alliance Investment Management Inc. acquired a new position in shares of Laboratory Co. of America during the second quarter worth $27,000. SouthState Corp acquired a new stake in shares of Laboratory Co. of America during the 3rd quarter valued at $28,000. Horizon Bancorp Inc. IN bought a new stake in Laboratory Co. of America during the 3rd quarter worth $29,000. Innealta Capital LLC acquired a new position in Laboratory Co. of America in the 2nd quarter worth about $32,000. Finally, Family Firm Inc. bought a new position in Laboratory Co. of America in the second quarter valued at about $37,000. 95.94% of the stock is owned by institutional investors and hedge funds.

Laboratory Co. of America Stock Down 1.0 %

Shares of NYSE:LH opened at $232.57 on Friday. The business’s 50-day moving average is $229.29 and its 200-day moving average is $219.17. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $247.99. The company has a market capitalization of $19.45 billion, a price-to-earnings ratio of 44.98, a P/E/G ratio of 1.95 and a beta of 1.05. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.44 and a quick ratio of 1.30.

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, beating the consensus estimate of $3.48 by $0.02. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates 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 was up 7.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.38 earnings per share. Equities research analysts predict that Laboratory Co. of America Holdings will post 14.52 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

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 paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Tuesday, November 26th. Laboratory Co. of America’s dividend payout ratio (DPR) is currently 55.71%.

Insider Activity

In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 1,000 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $239.42, for a total transaction of $239,420.00. Following the completion of the sale, the executive vice president now owns 2,670 shares in the company, valued at approximately $639,251.40. The trade was a 27.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Adam H. Schechter sold 6,189 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $243.47, for a total transaction of $1,506,835.83. Following the completion of the transaction, the chief executive officer now directly 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. Over the last 90 days, insiders have sold 24,572 shares of company stock worth $5,910,209. Company insiders own 0.85% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on LH shares. Jefferies Financial Group boosted their price target on Laboratory Co. of America from $245.00 to $265.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Evercore ISI reduced their target price 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. StockNews.com downgraded shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Piper Sandler lifted their price target on shares of Laboratory Co. of America from $235.00 to $240.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Finally, Hsbc Global Res upgraded Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.