Sanctuary Advisors LLC Raises Stock Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Sanctuary Advisors LLC increased its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 17.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,456 shares of the medical research company’s stock after acquiring an additional 2,026 shares during the quarter. Sanctuary Advisors LLC’s holdings in Laboratory Co. of America were worth $3,225,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Private Trust Co. NA increased its holdings in Laboratory Co. of America by 3.2% during the third quarter. Private Trust Co. NA now owns 1,342 shares of the medical research company’s stock worth $300,000 after buying an additional 41 shares during the last quarter. Insight Inv LLC grew its stake in shares of Laboratory Co. of America by 1.3% during the 2nd quarter. Insight Inv LLC now owns 3,530 shares of the medical research company’s stock worth $718,000 after acquiring an additional 45 shares during the period. Athena Investment Management lifted its holdings 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 valued at $212,000 after purchasing an additional 48 shares during the last quarter. Empirical Finance LLC boosted its position in 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 purchasing an additional 50 shares during the period. Finally, Concord Wealth Partners increased its stake in shares of Laboratory Co. of America by 43.3% in the third quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock worth $38,000 after purchasing an additional 52 shares in the last quarter. Institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Price Performance

Shares of Laboratory Co. of America stock opened at $229.62 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.44 and a quick ratio of 1.30. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $247.99. The stock has a market capitalization of $19.21 billion, a P/E ratio of 44.41, a PEG ratio of 1.89 and a beta of 1.05. The business has a 50 day simple moving average of $231.07 and a two-hundred day simple moving average of $220.81.

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

Laboratory Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Tuesday, November 26th were paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date was Tuesday, November 26th. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 55.71%.

Insider Buying and Selling at Laboratory Co. of America

In other news, CMO Amy B. Summy sold 3,672 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $238.91, for a total value of $877,277.52. Following the transaction, the chief marketing officer now directly owns 4,318 shares in the company, valued at approximately $1,031,613.38. This represents a 45.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Adam H. Schechter sold 6,189 shares of Laboratory Co. of America 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 completion of the sale, the chief executive officer now owns 87,441 shares of the company’s stock, valued at $21,289,260.27. This trade represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,572 shares of company stock worth $5,910,209 in the last ninety days. 0.85% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on LH shares. Jefferies Financial Group reiterated a “buy” rating and issued a $275.00 price target (up from $265.00) on shares of Laboratory Co. of America in a research report on Tuesday, December 10th. Evercore ISI cut their price target on shares of Laboratory Co. of America from $250.00 to $240.00 and set an “in-line” rating for the company in a report on Tuesday, September 24th. StockNews.com downgraded Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. HSBC raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. Finally, Piper Sandler upped their target price on shares of Laboratory Co. of America from $235.00 to $240.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $257.67.

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.