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

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

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

Insider Activity at Laboratory Co. of America

In related news, Director Kerrii B. Anderson sold 1,000 shares of Laboratory Co. of America stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $230.00, for a total transaction of $230,000.00. Following the sale, the director now owns 13,722 shares of the company’s stock, valued at $3,156,060. The trade was a 6.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Adam H. Schechter sold 6,189 shares of the business’s stock in a transaction on Monday, November 11th. The stock was 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 owns 87,441 shares in the company, valued at $21,289,260.27. This represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,572 shares of company stock worth $5,910,209. 0.85% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on LH shares. StockNews.com downgraded Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Robert W. Baird raised their price target on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Jefferies Financial Group reissued a “buy” rating and issued a $275.00 price objective (up previously from $265.00) on shares of Laboratory Co. of America in a research report on Tuesday. Evercore ISI decreased 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 research report on Tuesday, September 24th. Finally, Piper Sandler boosted their price target on Laboratory Co. of America from $235.00 to $240.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Five equities 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $257.67.

Laboratory Co. of America Trading Up 0.1 %

NYSE LH opened at $232.01 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.44. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year high of $247.99. The company’s 50 day moving average price is $230.72 and its 200 day moving average price is $220.19. The firm has a market capitalization of $19.41 billion, a price-to-earnings ratio of 44.88, a PEG ratio of 1.89 and a beta of 1.05.

Laboratory Co. of America (NYSE:LH) last posted 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 net margin of 3.43% and a return on equity of 15.27%. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same quarter in the previous year, the business posted $3.38 EPS. The business’s quarterly revenue was up 7.4% on a year-over-year basis. On average, sell-side analysts predict that Laboratory Co. of America Holdings will post 14.52 EPS for the current year.

Laboratory Co. of America Announces Dividend

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

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.