Laboratory Co. of America Holdings (NYSE:LH) Stake Raised by White Pine Investment CO

White Pine Investment CO boosted its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 1.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,078 shares of the medical research company’s stock after acquiring an additional 309 shares during the quarter. White Pine Investment CO’s holdings in Laboratory Co. of America were worth $4,264,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its holdings in shares of Laboratory Co. of America by 17.7% during the third quarter. Farther Finance Advisors LLC now owns 1,385 shares of the medical research company’s stock worth $310,000 after purchasing an additional 208 shares during the period. Oak Harvest Investment Services purchased a new position in Laboratory Co. of America in the third quarter valued at about $894,000. Lodestar Private Asset Management LLC acquired a new position in Laboratory Co. of America in the 3rd quarter worth about $219,000. abrdn plc raised its stake in shares of Laboratory Co. of America by 13.8% during the 3rd quarter. abrdn plc now owns 76,999 shares of the medical research company’s stock worth $17,142,000 after purchasing an additional 9,328 shares in the last quarter. Finally, SFE Investment Counsel lifted its holdings in shares of Laboratory Co. of America by 21.5% during the 3rd quarter. SFE Investment Counsel now owns 28,779 shares of the medical research company’s stock valued at $6,432,000 after buying an additional 5,101 shares during the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Lance Berberian sold 12,093 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $229.10, for a total value of $2,770,506.30. Following the sale, the executive vice president now owns 15,921 shares of the company’s stock, valued at $3,647,501.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Lance Berberian sold 12,093 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $229.10, for a total value of $2,770,506.30. Following the sale, the executive vice president now owns 15,921 shares of the company’s stock, valued at $3,647,501.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 value of $454,100.00. Following the completion of the sale, the executive vice president now 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 30,679 shares of company stock worth $6,946,306 over the last 90 days. Corporate insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Performance

NYSE LH opened at $227.10 on Friday. The company’s fifty day moving average is $222.59 and its two-hundred day moving average is $213.22. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $239.50. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.44 and a quick ratio of 1.30. The firm has a market capitalization of $18.99 billion, a price-to-earnings ratio of 43.93, a P/E/G ratio of 1.88 and a beta of 1.05.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.48 by $0.02. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same period in the previous year, the company posted $3.38 earnings per share. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. Equities research analysts forecast that Laboratory Co. of America Holdings will post 14.53 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, November 26th will be given a $0.72 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $2.88 annualized dividend and a yield of 1.27%. Laboratory Co. of America’s dividend payout ratio (DPR) is currently 55.71%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Truist Financial lifted their target price on shares of 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. Barclays upped their price objective on shares of Laboratory Co. of America from $234.00 to $249.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Jefferies Financial Group raised their target price on Laboratory Co. of America from $245.00 to $265.00 and gave the company a “buy” rating in a report on Monday, September 23rd. StockNews.com downgraded Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Finally, Hsbc Global Res raised Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Five 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $255.92.

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.