Laboratory Co. of America Holdings (NYSE:LH) Shares Purchased by Concentric Wealth Management LLC

Concentric Wealth Management LLC raised its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 0.5% in the third quarter, Holdings Channel.com reports. The fund owned 19,904 shares of the medical research company’s stock after acquiring an additional 104 shares during the period. Concentric Wealth Management LLC’s holdings in Laboratory Co. of America were worth $4,448,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd acquired a new stake in Laboratory Co. of America during the third quarter valued at approximately $1,658,000. Daiwa Securities Group Inc. increased its stake in Laboratory Co. of America by 9.7% in the 3rd quarter. Daiwa Securities Group Inc. now owns 11,361 shares of the medical research company’s stock worth $2,539,000 after purchasing an additional 1,006 shares in the last quarter. Swedbank AB raised its holdings in Laboratory Co. of America by 12.0% during the 3rd quarter. Swedbank AB now owns 56,884 shares of the medical research company’s stock worth $12,712,000 after buying an additional 6,089 shares during the period. Cerity Partners LLC lifted its stake in Laboratory Co. of America by 12.1% during the third quarter. Cerity Partners LLC now owns 81,694 shares of the medical research company’s stock valued at $18,257,000 after buying an additional 8,810 shares in the last quarter. Finally, Great Valley Advisor Group Inc. boosted its holdings in shares of Laboratory Co. of America by 5.8% in the third quarter. Great Valley Advisor Group Inc. now owns 2,462 shares of the medical research company’s stock worth $550,000 after buying an additional 135 shares during the period. Institutional investors own 95.94% of the company’s stock.

Insiders Place Their Bets

In other news, Director Kerrii B. Anderson sold 1,000 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $230.00, for a total value of $230,000.00. Following the transaction, the director now owns 13,722 shares of the company’s stock, valued at $3,156,060. This represents a 6.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Adam H. Schechter sold 6,189 shares of Laboratory Co. of America stock in a transaction on Monday, November 11th. The stock was sold at an average price of $243.47, for a total value of $1,506,835.83. Following the sale, the chief executive officer now directly owns 87,441 shares of the company’s stock, valued at approximately $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 own 0.85% of the company’s stock.

Laboratory Co. of America Price Performance

Shares of NYSE:LH opened at $239.67 on Monday. The firm has a market capitalization of $20.05 billion, a PE ratio of 46.36, a PEG ratio of 1.97 and a beta of 1.05. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $247.99. The business’s 50 day moving average is $226.12 and its 200-day moving average is $217.14.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings results on Thursday, October 24th. The medical research company reported $3.50 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter last year, the company earned $3.38 earnings per share. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. Sell-side analysts predict that Laboratory Co. of America Holdings will post 14.53 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, November 26th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $2.88 dividend on an annualized basis and a yield of 1.20%. Laboratory Co. of America’s dividend payout ratio is 55.71%.

Wall Street Analysts Forecast Growth

LH has been the subject of several research analyst reports. Bank of America upped their price target on shares of 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. UBS Group raised their target price on Laboratory Co. of America from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Barclays upped their price target on 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. Jefferies Financial Group increased their price target on shares of 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, HSBC upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. Five 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. According to data from MarketBeat, Laboratory Co. of America 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.