Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Creative Planning

Creative Planning decreased its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 18.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,530 shares of the medical research company’s stock after selling 2,324 shares during the quarter. Creative Planning’s holdings in Laboratory Co. of America were worth $2,353,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in LH. Price T Rowe Associates Inc. MD raised its stake in Laboratory Co. of America by 2.6% in 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 last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Laboratory Co. of America by 17.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 101,019 shares of the medical research company’s stock worth $22,069,000 after acquiring an additional 14,708 shares during the last quarter. SG Americas Securities LLC raised its stake in 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 worth $5,072,000 after acquiring an additional 17,156 shares during the last quarter. Duality Advisers LP raised its stake in Laboratory Co. of America by 141.3% in 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 last quarter. Finally, Great Valley Advisor Group Inc. purchased a new position in Laboratory Co. of America in the 2nd quarter worth $473,000. Institutional investors and hedge funds own 95.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on LH. StockNews.com lowered Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Friday. Evercore ISI reduced 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. Jefferies Financial Group lifted their price objective on Laboratory Co. of America from $245.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Truist Financial lifted their price objective on Laboratory Co. of America from $255.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Laboratory Co. of America from $220.00 to $230.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $253.54.

Insider Buying and Selling

In related news, CFO Glenn A. Eisenberg sold 15,000 shares of Laboratory Co. of America stock in a transaction dated 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 in the company, valued at approximately $7,008,423.11. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Lance Berberian sold 12,093 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 15,921 shares in the company, valued at $3,647,501.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Glenn A. Eisenberg sold 15,000 shares of the business’s 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 transaction, the chief financial officer now 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 disclosure for this sale can be found here. In the last three months, insiders have sold 30,679 shares of company stock worth $6,946,306. Insiders own 0.85% of the company’s stock.

Laboratory Co. of America Price Performance

Shares of Laboratory Co. of America stock opened at $228.63 on Monday. The company has a quick ratio of 0.77, a current ratio of 0.88 and a debt-to-equity ratio of 0.39. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $239.50. The business has a 50-day moving average price of $222.60 and a 200 day moving average price of $212.44. The firm has a market cap of $19.20 billion, a PE ratio of 43.30, a P/E/G ratio of 1.70 and a beta of 1.05.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings data on Thursday, October 24th. The medical research company reported $3.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.48 by $0.02. Laboratory Co. of America had a return on equity of 15.39% and a net margin of 3.60%. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same period in the previous year, the firm posted $3.38 EPS. Laboratory Co. of America’s revenue was up 7.4% compared to the same quarter last year. Sell-side analysts predict that Laboratory Co. of America Holdings will post 14.55 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, November 26th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend is Tuesday, November 26th. Laboratory Co. of America’s payout ratio is 54.55%.

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.