Laboratory Co. of America Holdings (NYSE:LH) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC increased its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 35.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,163 shares of the medical research company’s stock after purchasing an additional 562 shares during the period. GAMMA Investing LLC’s holdings in Laboratory Co. of America were worth $496,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. SouthState Corp purchased a new stake in Laboratory Co. of America in the 3rd quarter worth $28,000. Horizon Bancorp Inc. IN acquired a new position in Laboratory Co. of America in the 3rd quarter valued at $29,000. Riverview Trust Co boosted its stake in Laboratory Co. of America by 172.6% during the 3rd quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock worth $38,000 after purchasing an additional 107 shares during the last quarter. Concord Wealth Partners boosted its position in Laboratory Co. of America by 43.3% during the third quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock worth $38,000 after acquiring an additional 52 shares during the last quarter. Finally, Kennebec Savings Bank purchased a new stake in Laboratory Co. of America during the 3rd quarter valued at about $42,000. 95.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Laboratory Co. of America

In other news, EVP Glenn A. Eisenberg sold 11,711 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $240.43, for a total value of $2,815,675.73. Following the sale, the executive vice president now directly owns 31,289 shares in the company, valued at $7,522,814.27. This represents a 27.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kerrii B. Anderson sold 1,000 shares of Laboratory Co. of America stock in a transaction that occurred 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 transaction, the director now owns 13,722 shares of the company’s stock, valued at $3,156,060. This represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,572 shares of company stock valued at $5,910,209. Corporate insiders own 0.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. 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. Barclays boosted 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 report on Friday, October 25th. StockNews.com cut shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Evercore ISI dropped their price objective on Laboratory Co. of America from $250.00 to $240.00 and set an “in-line” rating for the company in a research note on Tuesday, September 24th. Finally, Hsbc Global Res upgraded shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Laboratory Co. of America currently has an average rating of “Moderate Buy” and an average price target of $258.62.

Laboratory Co. of America Trading Up 0.4 %

Shares of Laboratory Co. of America stock opened at $229.15 on Monday. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.66. The firm has a market cap of $19.17 billion, a price-to-earnings ratio of 44.32, a price-to-earnings-growth ratio of 1.91 and a beta of 1.06. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $247.99. The company’s 50-day simple moving average is $234.10 and its 200-day simple moving average is $223.81.

Laboratory Co. of America (NYSE:LH) last issued its earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.48 by $0.02. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.26 billion. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the prior year, the business posted $3.38 EPS. As a group, equities research analysts anticipate that Laboratory Co. of America Holdings will post 14.52 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Tuesday, November 26th were given a dividend of $0.72 per share. The ex-dividend date was Tuesday, November 26th. This represents a $2.88 annualized dividend and a yield of 1.26%. Laboratory Co. of America’s payout ratio is currently 55.71%.

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.