609 Shares in Laboratory Co. of America Holdings (NYSE:LH) Acquired by Indiana Trust & Investment Management Co

Indiana Trust & Investment Management Co purchased a new position in Laboratory Co. of America Holdings (NYSE:LH) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 609 shares of the medical research company’s stock, valued at approximately $136,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LH. Swedbank AB grew its stake in shares of Laboratory Co. of America by 12.0% during the third quarter. Swedbank AB now owns 56,884 shares of the medical research company’s stock worth $12,712,000 after purchasing an additional 6,089 shares in the last quarter. Washington Capital Management Inc. acquired a new position in shares of Laboratory Co. of America during the 3rd quarter worth about $1,117,000. Grove Bank & Trust purchased a new position in shares of Laboratory Co. of America in the 3rd quarter valued at about $794,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its holdings in shares of Laboratory Co. of America by 5.1% in the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 4,840 shares of the medical research company’s stock valued at $1,082,000 after acquiring an additional 237 shares during the last quarter. Finally, Willis Investment Counsel raised its position in shares of Laboratory Co. of America by 1.5% during the 3rd quarter. Willis Investment Counsel now owns 65,003 shares of the medical research company’s stock worth $14,527,000 after acquiring an additional 971 shares in the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Insider Activity

In other Laboratory Co. of America news, EVP Lance Berberian sold 12,093 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $229.10, for a total value of $2,770,506.30. Following the sale, the executive vice president now owns 15,921 shares of the company’s stock, valued at $3,647,501.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other 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 value of $3,359,850.00. Following the completion of the transaction, the chief financial officer now directly owns 31,289 shares of the company’s stock, valued at $7,008,423.11. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Lance Berberian sold 12,093 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $229.10, for a total value of $2,770,506.30. Following the completion of the sale, the executive vice president now owns 15,921 shares in the company, valued at $3,647,501.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,679 shares of company stock worth $6,716,306 over the last 90 days. 0.85% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

LH has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Laboratory Co. of America from $220.00 to $230.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Barclays lifted their price target on shares of Laboratory Co. of America from $213.00 to $249.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Evercore ISI dropped 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. StockNews.com cut Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Monday, October 7th. Finally, Bank of America upped their target price on Laboratory Co. of America from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Laboratory Co. of America currently has an average rating of “Moderate Buy” and an average target price of $253.00.

Laboratory Co. of America Stock Performance

Shares of Laboratory Co. of America stock traded down $1.07 on Wednesday, reaching $215.61. 106,772 shares of the stock were exchanged, compared to its average volume of 660,636. The firm has a market capitalization of $18.18 billion, a PE ratio of 43.60, a PEG ratio of 1.67 and a beta of 1.05. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $238.46. The business has a fifty day moving average price of $223.22 and a two-hundred day moving average price of $211.94. The company has a current ratio of 0.88, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39.

Laboratory Co. of America (NYSE:LH) last issued its earnings results on Thursday, August 1st. The medical research company reported $3.94 EPS for the quarter, topping the consensus estimate of $3.78 by $0.16. Laboratory Co. of America had a net margin of 3.60% and a return on equity of 15.39%. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same period in the previous year, the firm earned $3.42 EPS. The business’s revenue was up 6.2% on a year-over-year basis. As a group, research analysts anticipate 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 company also recently announced 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 annualized dividend and a yield of 1.34%. The ex-dividend date is Tuesday, November 26th. Laboratory Co. of America’s dividend payout ratio (DPR) is 57.95%.

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.