Exchange Traded Concepts LLC Grows Position in Laboratory Co. of America Holdings (NYSE:LH)

Exchange Traded Concepts LLC boosted its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 1,962.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 990 shares of the medical research company’s stock after purchasing an additional 942 shares during the period. Exchange Traded Concepts LLC’s holdings in Laboratory Co. of America were worth $221,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Industrial Alliance Investment Management Inc. bought a new stake in shares of Laboratory Co. of America during the second quarter worth $27,000. Pathway Financial Advisers LLC purchased a new position in Laboratory Co. of America in the 1st quarter worth about $30,000. Innealta Capital LLC bought a new stake in Laboratory Co. of America during the 2nd quarter valued at about $32,000. Family Firm Inc. purchased a new stake in Laboratory Co. of America in the 2nd quarter valued at about $37,000. Finally, McClarren Financial Advisors Inc. grew its stake in Laboratory Co. of America by 313.2% in the 1st quarter. McClarren Financial Advisors Inc. now owns 219 shares of the medical research company’s stock worth $48,000 after acquiring an additional 166 shares in the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their price target on Laboratory Co. of America from $220.00 to $230.00 and gave the company a “hold” rating in a report on Friday, August 2nd. Evercore ISI dropped their price target on Laboratory Co. of America from $250.00 to $240.00 and set an “in-line” rating on the stock in a research report on Tuesday, September 24th. StockNews.com upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Robert W. Baird increased their target price on shares of Laboratory Co. of America from $278.00 to $282.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Finally, Truist Financial boosted their price target on shares of Laboratory Co. of America from $255.00 to $275.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Laboratory Co. of America has a consensus rating of “Moderate Buy” and an average target price of $251.85.

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America 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 completion of the sale, the executive vice president now owns 15,921 shares of the company’s stock, valued at approximately $3,647,501.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Laboratory Co. of America news, EVP Lance Berberian sold 12,093 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $3,647,501.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Der Vaart Sandra D. Van sold 2,000 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $227.05, for a total transaction of $454,100.00. Following the completion of the sale, the executive vice president now directly owns 3,670 shares in the company, valued at $833,273.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,679 shares of company stock valued at $6,716,306 in the last ninety days. Company insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Down 0.8 %

Shares of LH stock opened at $214.13 on Tuesday. The stock’s fifty day moving average price is $222.58 and its 200 day moving average price is $212.02. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.88 and a quick ratio of 0.77. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $238.46. The company has a market cap of $18.05 billion, a price-to-earnings ratio of 43.08, a price-to-earnings-growth ratio of 1.67 and a beta of 1.05.

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

Laboratory Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, November 26th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date is Tuesday, November 26th. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 57.95%.

Laboratory Co. of America 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.