5,320 Shares in Laboratory Co. of America Holdings (NYSE:LH) Bought by Park Avenue Securities LLC

Park Avenue Securities LLC purchased a new stake in Laboratory Co. of America Holdings (NYSE:LH) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 5,320 shares of the medical research company’s stock, valued at approximately $1,189,000.

Several other institutional investors and hedge funds also recently made changes to their positions in LH. Price T Rowe Associates Inc. MD grew 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 acquiring an additional 2,934 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Laboratory Co. of America by 17.0% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 101,019 shares of the medical research company’s stock worth $22,069,000 after purchasing an additional 14,708 shares during the period. SG Americas Securities LLC grew its stake in shares of Laboratory Co. of America by 283.1% in the 1st quarter. SG Americas Securities LLC now owns 23,217 shares of the medical research company’s stock valued at $5,072,000 after buying an additional 17,156 shares during the period. First National Bank of Mount Dora Trust Investment Services acquired a new position in shares of Laboratory Co. of America during the first quarter worth approximately $1,418,000. Finally, Duality Advisers LP raised its holdings in Laboratory Co. of America by 141.3% during the first quarter. Duality Advisers LP now owns 29,580 shares of the medical research company’s stock worth $6,462,000 after buying an additional 17,323 shares during the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on LH. Jefferies Financial Group lifted their target price on Laboratory Co. of America from $245.00 to $265.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Piper Sandler initiated coverage on shares of Laboratory Co. of America in a research note on Tuesday, October 1st. They set a “neutral” rating and a $235.00 price target for the company. StockNews.com lowered shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Monday. Robert W. Baird raised their price objective on shares of Laboratory Co. of America from $278.00 to $282.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Finally, UBS Group boosted their target price on Laboratory Co. of America from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Laboratory Co. of America has an average rating of “Moderate Buy” and a consensus target price of $253.00.

Insider Activity

In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 15,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief financial officer now directly owns 31,289 shares in the company, valued at approximately $7,008,423.11. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Glenn A. Eisenberg sold 15,000 shares of Laboratory Co. of America stock in a transaction that occurred on Thursday, August 15th. The stock was 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 directly owns 31,289 shares of the company’s stock, valued at $7,008,423.11. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Lance Berberian sold 12,093 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $229.10, for a total value of $2,770,506.30. Following the completion of the transaction, the executive vice president now directly owns 15,921 shares of the company’s stock, valued at approximately $3,647,501.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,679 shares of company stock worth $6,716,306 in the last quarter. Corporate insiders own 0.85% of the company’s stock.

Laboratory Co. of America Trading Up 0.3 %

Shares of NYSE LH opened at $212.66 on Wednesday. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $238.46. The company has a quick ratio of 0.77, a current ratio of 0.88 and a debt-to-equity ratio of 0.39. The firm has a market cap of $17.93 billion, a PE ratio of 42.87, a price-to-earnings-growth ratio of 1.74 and a beta of 1.05. The business has a fifty day simple moving average of $224.40 and a two-hundred day simple moving average of $211.95.

Laboratory Co. of America (NYSE:LH) last released its earnings results on Thursday, August 1st. The medical research company reported $3.94 EPS for the quarter, topping analysts’ consensus estimates of $3.78 by $0.16. The firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.19 billion. Laboratory Co. of America had a return on equity of 15.39% and a net margin of 3.60%. The company’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.42 earnings per share. Analysts expect that Laboratory Co. of America Holdings will post 14.61 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 29th were issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend was Thursday, August 29th. Laboratory Co. of America’s payout ratio is currently 57.95%.

Laboratory Co. of America Profile

Laboratory Corporation of America Holdings operates as a life sciences company that provides vital information to help doctors, hospitals, pharmaceutical companies, researchers, and patients make clear and confident decisions. It operates in two segments, Labcorp Diagnostics (Dx) and Biopharma Laboratory Services (BLS).