Laboratory Co. of America Holdings (NYSE:LH) Position Reduced by TD Private Client Wealth LLC

TD Private Client Wealth LLC lowered its stake in Laboratory Co. of America Holdings (NYSE:LH) by 11.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 4,817 shares of the medical research company’s stock after selling 643 shares during the period. TD Private Client Wealth LLC’s holdings in Laboratory Co. of America were worth $1,077,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of LH. Private Trust Co. NA increased its holdings in Laboratory Co. of America by 3.2% in the third quarter. Private Trust Co. NA now owns 1,342 shares of the medical research company’s stock valued at $300,000 after buying an additional 41 shares during the last quarter. Insight Inv LLC increased its holdings in shares of Laboratory Co. of America by 1.3% in the 2nd quarter. Insight Inv LLC now owns 3,530 shares of the medical research company’s stock valued at $718,000 after acquiring an additional 45 shares during the last quarter. Athena Investment Management raised its position in shares of Laboratory Co. of America by 4.8% during 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. Empirical Finance LLC lifted its stake in Laboratory Co. of America by 1.7% during the third quarter. Empirical Finance LLC now owns 3,055 shares of the medical research company’s stock worth $683,000 after purchasing an additional 50 shares during the last quarter. Finally, Concord Wealth Partners boosted its holdings in Laboratory Co. of America by 43.3% in the third quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock worth $38,000 after purchasing an additional 52 shares during the period. Institutional investors and hedge funds own 95.94% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on LH. Barclays lifted their price target on shares of Laboratory Co. of America from $234.00 to $249.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Robert W. Baird upped their target price on Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Piper Sandler increased their price target on Laboratory Co. of America from $235.00 to $240.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Jefferies Financial Group restated a “buy” rating and set a $275.00 price objective (up previously from $265.00) on shares of Laboratory Co. of America in a research report on Tuesday. Finally, Bank of America increased their target price on Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a research report on Friday. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $257.67.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,189 shares of Laboratory Co. of America stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 87,441 shares in the company, valued at approximately $21,289,260.27. The trade was a 6.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Glenn A. Eisenberg sold 11,711 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $240.43, for a total value of $2,815,675.73. Following the completion of the sale, the executive vice president now owns 31,289 shares of the company’s stock, valued at $7,522,814.27. The trade was a 27.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,572 shares of company stock valued at $5,910,209. Corporate insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Up 0.1 %

Shares of LH stock opened at $232.01 on Friday. 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 debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.44. The business’s fifty day moving average is $230.72 and its 200-day moving average is $220.19. The stock has a market cap of $19.41 billion, a PE ratio of 44.88, a price-to-earnings-growth ratio of 1.89 and a beta of 1.05.

Laboratory Co. of America (NYSE:LH) last announced its earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.48 by $0.02. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter last year, the business posted $3.38 earnings per share. The company’s quarterly revenue was up 7.4% on a year-over-year basis. Equities analysts expect that Laboratory Co. of America Holdings will post 14.52 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Tuesday, November 26th were given a $0.72 dividend. The ex-dividend date of this dividend was Tuesday, November 26th. This represents a $2.88 annualized dividend and a yield of 1.24%. Laboratory Co. of America’s dividend payout ratio (DPR) is 55.71%.

About Laboratory Co. of America

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.