Modera Wealth Management LLC Buys 134 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Modera Wealth Management LLC grew its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 10.2% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 1,452 shares of the medical research company’s stock after acquiring an additional 134 shares during the quarter. Modera Wealth Management LLC’s holdings in Laboratory Co. of America were worth $324,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Horizon Bancorp Inc. IN bought a new stake in shares of Laboratory Co. of America during the 3rd quarter worth $29,000. Pathway Financial Advisers LLC bought a new position in Laboratory Co. of America in the first quarter valued at about $30,000. Industrial Alliance Investment Management Inc. bought a new position in Laboratory Co. of America in the second quarter valued at about $27,000. Innealta Capital LLC bought a new position in Laboratory Co. of America in the second quarter valued at about $32,000. Finally, Riverview Trust Co raised its position in Laboratory Co. of America by 172.6% in the third quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock valued at $38,000 after purchasing an additional 107 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors.

Laboratory Co. of America Price Performance

Shares of NYSE LH opened at $228.09 on Wednesday. The stock has a market cap of $19.15 billion, a PE ratio of 44.12, a price-to-earnings-growth ratio of 1.77 and a beta of 1.05. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $239.50. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.44. The stock has a fifty day moving average of $222.68 and a 200-day moving average of $212.75.

Laboratory Co. of America (NYSE:LH) last announced its quarterly 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. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the business earned $3.38 earnings per share. Equities research 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 business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, November 26th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Tuesday, November 26th. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 55.71%.

Insider Activity

In related news, EVP Lance Berberian sold 12,093 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $229.10, for a total transaction of $2,770,506.30. Following the completion of the transaction, the executive vice president now directly owns 15,921 shares in the company, valued at $3,647,501.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Kerrii B. Anderson sold 586 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $225.00, for a total transaction of $131,850.00. Following the completion of the transaction, the director now directly owns 14,722 shares in the company, valued at $3,312,450. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lance Berberian sold 12,093 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $229.10, for a total value of $2,770,506.30. Following the transaction, the executive vice president now owns 15,921 shares of the company’s stock, valued at approximately $3,647,501.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,679 shares of company stock worth $6,946,306. 0.85% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft increased their target price on Laboratory Co. of America from $220.00 to $230.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Jefferies Financial Group raised their target price on Laboratory Co. of America from $245.00 to $265.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Robert W. Baird raised their target price on 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. Truist Financial increased their price target on Laboratory Co. of America from $255.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Piper Sandler raised their target price on Laboratory Co. of America from $235.00 to $240.00 and gave the company a “neutral” rating in a report on Monday. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $253.92.

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.