Dynamic Technology Lab Private Ltd Takes $1.66 Million Position in Laboratory Co. of America Holdings (NYSE:LH)

Dynamic Technology Lab Private Ltd purchased a new stake in Laboratory Co. of America Holdings (NYSE:LH) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 7,417 shares of the medical research company’s stock, valued at approximately $1,658,000.

Several other large investors also recently bought and sold shares of LH. Insight Inv LLC boosted its position in shares of Laboratory Co. of America by 1.3% in the 2nd quarter. Insight Inv LLC now owns 3,530 shares of the medical research company’s stock valued at $718,000 after purchasing an additional 45 shares during the period. Athena Investment Management increased its position in Laboratory Co. of America by 4.8% during the second quarter. Athena Investment Management now owns 1,040 shares of the medical research company’s stock worth $212,000 after buying an additional 48 shares during the period. Empirical Finance LLC grew its position in shares of Laboratory Co. of America by 1.7% during the third quarter. Empirical Finance LLC now owns 3,055 shares of the medical research company’s stock worth $683,000 after acquiring an additional 50 shares during the last quarter. Concord Wealth Partners increased its holdings in shares of Laboratory Co. of America by 43.3% in the 3rd quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock valued at $38,000 after acquiring an additional 52 shares during the period. Finally, Pure Financial Advisors LLC raised its position in Laboratory Co. of America by 5.1% in the 2nd quarter. Pure Financial Advisors LLC now owns 1,089 shares of the medical research company’s stock valued at $222,000 after purchasing an additional 53 shares during the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Analyst Ratings Changes

LH has been the topic of several research reports. HSBC raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Bank of America raised their price target on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, August 5th. 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. Hsbc Global Res raised Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Finally, Piper Sandler lifted their price objective on shares of Laboratory Co. of America from $235.00 to $240.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $255.92.

Laboratory Co. of America Stock Performance

Shares of LH opened at $241.24 on Tuesday. The company has a market capitalization of $20.18 billion, a PE ratio of 46.66, a P/E/G ratio of 1.97 and a beta of 1.05. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $247.99. The company has a 50-day simple moving average of $226.43 and a 200-day simple moving average of $217.39. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.66.

Laboratory Co. of America (NYSE:LH) last issued 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. The firm had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. Laboratory Co. of America’s revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm posted $3.38 earnings per share. Equities research analysts predict that Laboratory Co. of America Holdings will post 14.53 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. Investors of record on Tuesday, November 26th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $2.88 annualized dividend and a dividend yield of 1.19%. Laboratory Co. of America’s dividend payout ratio is currently 55.71%.

Insider Activity at Laboratory Co. of America

In related news, CEO Adam H. Schechter sold 6,189 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $243.47, for a total transaction of $1,506,835.83. Following the transaction, the chief executive officer now owns 87,441 shares of the company’s stock, valued at approximately $21,289,260.27. This represents a 6.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Der Vaart Sandra D. Van sold 1,000 shares of Laboratory Co. of America stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $239.42, for a total transaction of $239,420.00. Following the completion of the sale, the executive vice president now directly owns 2,670 shares of the company’s stock, valued at $639,251.40. The trade was a 27.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,189 shares of company stock valued at $1,976,256. 0.85% of the stock is owned by corporate insiders.

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.