Pallas Capital Advisors LLC Grows Stock Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Pallas Capital Advisors LLC grew its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 20.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,923 shares of the medical research company’s stock after buying an additional 328 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Laboratory Co. of America were worth $442,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of LH. Industrial Alliance Investment Management Inc. purchased a new stake in Laboratory Co. of America during the second quarter worth approximately $27,000. Horizon Bancorp Inc. IN purchased a new position in shares of Laboratory Co. of America in the third quarter valued at $29,000. Pathway Financial Advisers LLC purchased a new position in shares of Laboratory Co. of America in the first quarter valued at $30,000. Innealta Capital LLC purchased a new position in shares of Laboratory Co. of America in the second quarter valued at $32,000. Finally, Family Firm Inc. purchased a new position in shares of Laboratory Co. of America in the second quarter valued at $37,000. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. 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. Barclays increased their price objective on shares of Laboratory Co. of America from $234.00 to $249.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Evercore ISI reduced their price objective 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 note on Tuesday, September 24th. Piper Sandler increased their price objective on shares of Laboratory Co. of America from $235.00 to $240.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Jefferies Financial Group increased their price objective on shares of Laboratory Co. of America from $245.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $255.92.

Laboratory Co. of America Stock Down 1.0 %

Shares of NYSE:LH opened at $228.27 on Friday. The stock has a market capitalization of $19.17 billion, a price-to-earnings ratio of 44.15, a price-to-earnings-growth ratio of 1.77 and a beta of 1.05. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $239.50. The company’s fifty day moving average is $222.67 and its two-hundred day moving average is $212.98. 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, topping 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 for the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter last year, the company earned $3.38 EPS. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. Equities analysts anticipate that Laboratory Co. of America Holdings will post 14.53 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, November 26th will be issued a $0.72 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.26%. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 55.71%.

Insider Buying and Selling

In related news, CFO Glenn A. Eisenberg sold 15,000 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $223.99, for a total value of $3,359,850.00. Following the sale, the chief financial officer now owns 31,289 shares of the company’s stock, valued at $7,008,423.11. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 15,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $223.99, for a total transaction of $3,359,850.00. Following the transaction, the chief financial officer now owns 31,289 shares of the company’s stock, valued at approximately $7,008,423.11. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lance Berberian sold 12,093 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $229.10, for a total transaction of $2,770,506.30. Following the transaction, the executive vice president now directly owns 15,921 shares in the company, valued at approximately $3,647,501.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,679 shares of company stock valued at $6,946,306 in the last quarter. Company insiders own 0.85% of the company’s stock.

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.