Laboratory Co. of America Holdings (NYSE:LH) Shares Acquired by Great Valley Advisor Group Inc.

Great Valley Advisor Group Inc. boosted its position in Laboratory Co. of America Holdings (NYSE:LH) by 5.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,462 shares of the medical research company’s stock after acquiring an additional 135 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Laboratory Co. of America were worth $550,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Laboratory Co. of America in the second quarter worth $27,000. SouthState Corp purchased a new stake in Laboratory Co. of America during the 3rd quarter worth $28,000. Horizon Bancorp Inc. IN acquired a new stake in Laboratory Co. of America in the 3rd quarter valued at $29,000. Pathway Financial Advisers LLC acquired a new position in shares of Laboratory Co. of America during the first quarter worth about $30,000. Finally, Innealta Capital LLC purchased a new stake in shares of Laboratory Co. of America in the second quarter worth about $32,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Insider Activity

In other news, CEO Adam H. Schechter sold 6,189 shares of the business’s stock in a transaction 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 approximately $21,289,260.27. The trade was a 6.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Kerrii B. Anderson sold 1,000 shares of the stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $230.00, for a total transaction of $230,000.00. Following the completion of the sale, the director now directly owns 13,722 shares in the company, valued at approximately $3,156,060. This trade represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,861 shares of company stock valued at $2,853,533. 0.85% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on LH. 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, October 28th. Bank of America boosted their target price on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Evercore ISI lowered their price target on shares of Laboratory Co. of America from $250.00 to $240.00 and set an “in-line” rating for the company in a report on Tuesday, September 24th. Hsbc Global Res upgraded shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Finally, StockNews.com lowered Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Five 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 company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $255.92.

Laboratory Co. of America Price Performance

Shares of NYSE LH opened at $238.73 on Wednesday. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $19.97 billion, a price-to-earnings ratio of 46.18, a price-to-earnings-growth ratio of 1.97 and a beta of 1.05. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $247.99. The business has a 50 day simple moving average of $226.67 and a 200-day simple moving average of $217.61.

Laboratory Co. of America (NYSE:LH) last released 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 firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same quarter in the previous year, the firm earned $3.38 earnings per share. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, equities research analysts expect 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 announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, November 26th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $2.88 dividend on an annualized basis and a yield of 1.21%. Laboratory Co. of America’s payout ratio is currently 55.71%.

About Laboratory Co. of America

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.