Oppenheimer & Co. Inc. Sells 285 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Oppenheimer & Co. Inc. trimmed its stake in Laboratory Co. of America Holdings (NYSE:LH) by 10.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,557 shares of the medical research company’s stock after selling 285 shares during the period. Oppenheimer & Co. Inc.’s holdings in Laboratory Co. of America were worth $571,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in the business. Insight Inv LLC lifted its stake in shares of Laboratory Co. of America by 1.3% during the second quarter. Insight Inv LLC now owns 3,530 shares of the medical research company’s stock worth $718,000 after buying an additional 45 shares during the period. Athena Investment Management lifted its stake in Laboratory Co. of America by 4.8% in the 2nd quarter. Athena Investment Management now owns 1,040 shares of the medical research company’s stock worth $212,000 after purchasing an additional 48 shares in the last quarter. Concord Wealth Partners lifted its position in Laboratory Co. of America by 43.3% during the third quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock worth $38,000 after buying an additional 52 shares in the last quarter. Pure Financial Advisors LLC boosted its holdings in Laboratory Co. of America by 5.1% in the 2nd quarter. Pure Financial Advisors LLC now owns 1,089 shares of the medical research company’s stock valued at $222,000 after purchasing an additional 53 shares during the last quarter. Finally, SP Asset Management LLC increased its stake in Laboratory Co. of America by 0.4% during the second quarter. SP Asset Management LLC now owns 15,096 shares of the medical research company’s stock worth $3,072,000 after acquiring an additional 56 shares during the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Laboratory Co. of America Stock Up 0.7 %

Shares of NYSE LH opened at $237.85 on Thursday. The firm’s 50 day moving average price is $225.35 and its 200 day moving average price is $216.49. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $247.99. The firm has a market cap of $19.89 billion, a P/E ratio of 46.01, a price-to-earnings-growth ratio of 1.93 and a beta of 1.05. 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 (NYSE:LH) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $3.26 billion. During the same period in the previous year, the company posted $3.38 EPS. The company’s revenue was up 7.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Laboratory Co. of America Holdings will post 14.53 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, November 26th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Tuesday, November 26th. Laboratory Co. of America’s dividend payout ratio (DPR) is currently 55.71%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on LH. Bank of America boosted their price objective on Laboratory Co. of America from $240.00 to $260.00 and gave the company a “buy” rating in a report on Monday, August 5th. Truist Financial upped their price target on Laboratory Co. of America from $255.00 to $275.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Robert W. Baird boosted their price objective on Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Hsbc Global Res raised Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Finally, Piper Sandler increased their target price on Laboratory Co. of America from $235.00 to $240.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $255.92.

Insider Buying and Selling at Laboratory Co. of America

In other news, Director Kerrii B. Anderson sold 1,000 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $230.00, for a total transaction of $230,000.00. Following the transaction, the director now directly owns 13,722 shares of the company’s stock, valued at approximately $3,156,060. This trade represents a 6.79 % 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. Also, CEO Adam H. Schechter sold 6,189 shares of the 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 completion of the transaction, the chief executive officer now owns 87,441 shares of the company’s stock, valued at $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. 0.85% of the stock is currently owned by insiders.

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.