Everett Harris & Co. CA Has $6.82 Million Stock Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Everett Harris & Co. CA lifted its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 4.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,514 shares of the medical research company’s stock after purchasing an additional 1,260 shares during the period. Everett Harris & Co. CA’s holdings in Laboratory Co. of America were worth $6,819,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Bank of New York Mellon Corp raised its position in Laboratory Co. of America by 135.0% during the second quarter. Bank of New York Mellon Corp now owns 1,609,826 shares of the medical research company’s stock valued at $327,616,000 after buying an additional 924,881 shares during the period. Allspring Global Investments Holdings LLC raised its position in Laboratory Co. of America by 58.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,613,854 shares of the medical research company’s stock valued at $352,563,000 after buying an additional 597,571 shares during the period. Diamond Hill Capital Management Inc. raised its position in Laboratory Co. of America by 25.4% during the second quarter. Diamond Hill Capital Management Inc. now owns 1,949,640 shares of the medical research company’s stock valued at $396,771,000 after buying an additional 395,197 shares during the period. Select Equity Group L.P. acquired a new position in Laboratory Co. of America during the second quarter valued at $73,928,000. Finally, Magnetar Financial LLC acquired a new position in Laboratory Co. of America during the first quarter valued at $45,567,000. 95.94% of the stock is owned by institutional investors and hedge funds.

Laboratory Co. of America Stock Performance

LH traded up $0.64 during midday trading on Friday, reaching $215.77. The company’s stock had a trading volume of 354,097 shares, compared to its average volume of 658,739. The stock has a market cap of $18.19 billion, a P/E ratio of 43.41, a PEG ratio of 1.67 and a beta of 1.05. The company has a fifty day simple moving average of $222.76 and a 200 day simple moving average of $212.00. The company has a current ratio of 0.88, a quick ratio of 0.77 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 $238.46.

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

Laboratory Co. of America Dividend Announcement

The company 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 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Tuesday, November 26th. Laboratory Co. of America’s payout ratio is presently 57.95%.

Insider Transactions at Laboratory Co. of America

In related news, Director Kerrii B. Anderson sold 586 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $225.00, for a total transaction of $131,850.00. Following the completion of the transaction, the director now owns 14,722 shares in the company, valued at $3,312,450. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Kerrii B. Anderson sold 586 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $225.00, for a total transaction of $131,850.00. Following the completion of the transaction, the director now owns 14,722 shares in the company, valued at $3,312,450. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Der Vaart Sandra D. Van sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $227.05, for a total value of $454,100.00. Following the transaction, the executive vice president now owns 3,670 shares of the company’s stock, valued at $833,273.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,679 shares of company stock valued at $6,716,306. 0.85% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Barclays dropped their target price on Laboratory Co. of America from $249.00 to $234.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Truist Financial raised their price target on Laboratory Co. of America from $255.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Piper Sandler initiated coverage on Laboratory Co. of America in a research note on Tuesday, October 1st. They set a “neutral” rating and a $235.00 price target for the company. Evercore ISI cut their price target 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. Finally, 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 research note on Monday, August 5th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Laboratory Co. of America presently has a consensus rating of “Moderate Buy” and a consensus price target of $251.85.

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.