Charles Schwab Investment Management Inc. Acquires 12,145 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Charles Schwab Investment Management Inc. grew its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 2.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 549,386 shares of the medical research company’s stock after purchasing an additional 12,145 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.66% of Laboratory Co. of America worth $122,777,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its holdings in Laboratory Co. of America by 2.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 114,488 shares of the medical research company’s stock worth $25,012,000 after purchasing an additional 2,934 shares in the last quarter. Great Valley Advisor Group Inc. bought a new position in shares of Laboratory Co. of America in the second quarter valued at approximately $473,000. OneDigital Investment Advisors LLC boosted its position in shares of Laboratory Co. of America by 115.7% in the third quarter. OneDigital Investment Advisors LLC now owns 6,088 shares of the medical research company’s stock valued at $1,361,000 after acquiring an additional 3,265 shares during the period. DekaBank Deutsche Girozentrale grew its stake in Laboratory Co. of America by 13.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 187,286 shares of the medical research company’s stock valued at $40,259,000 after acquiring an additional 22,759 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in Laboratory Co. of America by 35.4% during the 2nd quarter. SG Americas Securities LLC now owns 31,435 shares of the medical research company’s stock worth $6,397,000 after acquiring an additional 8,218 shares during the period. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Kerrii B. Anderson sold 1,000 shares of the business’s 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 completion of the transaction, the director now owns 13,722 shares in the company, valued at $3,156,060. The trade was a 6.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Adam H. Schechter sold 6,189 shares of the stock in a transaction on Monday, November 11th. The shares were 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 in the company, 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. Over the last ninety days, insiders sold 8,189 shares of company stock valued at $1,976,256. Insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Up 0.7 %

NYSE:LH opened at $241.24 on Tuesday. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $247.99. The company has a market capitalization of $20.18 billion, a PE ratio of 46.66, a P/E/G ratio of 1.97 and a beta of 1.05. The firm’s 50-day moving average price is $226.43 and its 200-day moving average price is $217.39. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.44 and a quick ratio of 1.30.

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 for the quarter, beating 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 business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter last year, the firm earned $3.38 earnings per share. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, equities analysts predict that Laboratory Co. of America Holdings will post 14.53 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, November 26th will be paid a dividend of $0.72 per share. The ex-dividend date is Tuesday, November 26th. This represents a $2.88 dividend on an annualized basis and a yield of 1.19%. Laboratory Co. of America’s dividend payout ratio is currently 55.71%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. UBS Group upped their price target on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Robert W. Baird lifted their price target on Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Truist Financial upped their price objective on shares of Laboratory Co. of America from $255.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. StockNews.com lowered shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Finally, Barclays increased their price target on shares of Laboratory Co. of America from $234.00 to $249.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. 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’s stock. Based on data from MarketBeat.com, Laboratory Co. of America has an average rating of “Moderate Buy” and an average 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.