Laboratory Co. of America Holdings (NYSE:LH) Shares Acquired by Wahed Invest LLC

Wahed Invest LLC increased its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 11.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,039 shares of the medical research company’s stock after acquiring an additional 209 shares during the period. Wahed Invest LLC’s holdings in Laboratory Co. of America were worth $456,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. OneDigital Investment Advisors LLC boosted its stake in shares of Laboratory Co. of America by 115.7% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 6,088 shares of the medical research company’s stock worth $1,361,000 after acquiring an additional 3,265 shares in the last quarter. Great Valley Advisor Group Inc. acquired a new stake in Laboratory Co. of America in the second quarter valued at $473,000. Alexander Randolph Advisory Inc. acquired a new stake in Laboratory Co. of America in the third quarter valued at $955,000. SG Americas Securities LLC increased its position in shares of Laboratory Co. of America by 35.4% in the second quarter. SG Americas Securities LLC now owns 31,435 shares of the medical research company’s stock valued at $6,397,000 after buying an additional 8,218 shares in the last quarter. Finally, Marietta Wealth Management LLC boosted its position in shares of Laboratory Co. of America by 50.7% in the 2nd quarter. Marietta Wealth Management LLC now owns 19,540 shares of the medical research company’s stock worth $3,977,000 after buying an additional 6,575 shares in the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Insider Activity

In other Laboratory Co. of America news, EVP Glenn A. Eisenberg sold 11,711 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 31,289 shares in the company, valued at approximately $7,522,814.27. This trade represents a 27.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kerrii B. Anderson sold 1,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 13,722 shares of the company’s stock, valued at $3,156,060. This trade represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 24,572 shares of company stock valued at $5,910,209. Company insiders own 0.85% of the company’s stock.

Laboratory Co. of America Price Performance

LH opened at $232.47 on Friday. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $247.99. The firm has a market cap of $19.44 billion, a price-to-earnings ratio of 44.97, a PEG ratio of 1.95 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. The company has a fifty day simple moving average of $229.08 and a 200 day simple moving average of $218.90.

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 (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same period in the prior year, the company posted $3.38 EPS. Laboratory Co. of America’s quarterly revenue was up 7.4% on a year-over-year basis. Equities research analysts expect that Laboratory Co. of America Holdings will post 14.52 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Tuesday, November 26th. Laboratory Co. of America’s dividend payout ratio is presently 55.71%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on LH shares. HSBC raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Barclays lifted their price objective on Laboratory Co. of America from $234.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Jefferies Financial Group upped their target price on shares of Laboratory Co. of America from $245.00 to $265.00 and gave the company a “buy” rating in a report on Monday, September 23rd. 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 for the company in a report on Tuesday, September 24th. Finally, 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. Five equities research 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 company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $255.92.

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.