NBC Securities Inc. Has $135,000 Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

NBC Securities Inc. lessened its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 13.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 608 shares of the medical research company’s stock after selling 92 shares during the period. NBC Securities Inc.’s holdings in Laboratory Co. of America were worth $135,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of LH. Price T Rowe Associates Inc. MD increased its stake in shares of 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 purchasing an additional 2,934 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake 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 valued at $22,069,000 after buying an additional 14,708 shares during the period. SG Americas Securities LLC lifted its position in shares of Laboratory Co. of America by 283.1% in the first 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 last quarter. Duality Advisers LP boosted its stake in shares of Laboratory Co. of America by 141.3% during the 1st quarter. Duality Advisers LP now owns 29,580 shares of the medical research company’s stock worth $6,462,000 after acquiring an additional 17,323 shares during the period. Finally, Great Valley Advisor Group Inc. acquired a new position in shares of Laboratory Co. of America during the 2nd quarter worth approximately $473,000. 95.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on LH. Jefferies Financial Group raised their price target on Laboratory Co. of America from $245.00 to $265.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Piper Sandler initiated coverage on shares of Laboratory Co. of America in a report on Tuesday, October 1st. They set a “neutral” rating and a $235.00 target price for the company. StockNews.com raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Thursday. Truist Financial boosted their price objective 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, Bank of America increased their target price on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $251.85.

Insider Activity

In other news, EVP Lance Berberian sold 12,093 shares of the company’s stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 15,921 shares in the company, valued at approximately $3,647,501.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Lance Berberian sold 12,093 shares of Laboratory Co. of America 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 sale, the executive vice president now directly owns 15,921 shares of the company’s stock, valued at approximately $3,647,501.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Glenn A. Eisenberg sold 15,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now directly owns 31,289 shares of the company’s stock, valued at $7,008,423.11. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,679 shares of company stock worth $6,716,306. Corporate insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Performance

Shares of Laboratory Co. of America stock opened at $215.77 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39. The company has a market cap of $18.19 billion, a PE ratio of 43.41, a price-to-earnings-growth ratio of 1.67 and a beta of 1.05. The company has a 50 day moving average of $222.76 and a 200-day moving average of $212.00. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $238.46.

Laboratory Co. of America (NYSE:LH) last issued its earnings results on Thursday, August 1st. The medical research company reported $3.94 earnings per share for the quarter, beating analysts’ consensus estimates of $3.78 by $0.16. Laboratory Co. of America had a return on equity of 15.39% and a net margin of 3.60%. The firm had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.19 billion. During the same quarter last year, the business posted $3.42 EPS. The company’s revenue was up 6.2% compared to the same quarter last year. As a group, equities research analysts forecast that Laboratory Co. of America Holdings will post 14.56 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders 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 1.33%. Laboratory Co. of America’s dividend payout ratio (DPR) is currently 57.95%.

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.