1,828 Shares in Laboratory Co. of America Holdings (NYSE:LH) Acquired by Gilman Hill Asset Management LLC

Gilman Hill Asset Management LLC purchased a new position in shares of Laboratory Co. of America Holdings (NYSE:LH) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 1,828 shares of the medical research company’s stock, valued at approximately $409,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its stake in shares of Laboratory Co. of America by 2.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 114,488 shares of the medical research company’s stock worth $25,012,000 after purchasing an additional 2,934 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Laboratory Co. of America by 17.0% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 101,019 shares of the medical research company’s stock worth $22,069,000 after purchasing an additional 14,708 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Laboratory Co. of America by 283.1% in the first quarter. SG Americas Securities LLC now owns 23,217 shares of the medical research company’s stock worth $5,072,000 after purchasing an additional 17,156 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services purchased a new stake in shares of Laboratory Co. of America in the first quarter worth approximately $1,418,000. Finally, Duality Advisers LP raised its stake in shares of Laboratory Co. of America by 141.3% in the first quarter. Duality Advisers LP now owns 29,580 shares of the medical research company’s stock worth $6,462,000 after purchasing an additional 17,323 shares during the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on LH shares. Piper Sandler started coverage on Laboratory Co. of America in a research note on Tuesday, October 1st. They issued a “neutral” rating and a $235.00 price objective for the company. UBS Group upped their target price on Laboratory Co. of America from $260.00 to $270.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Bank of America upped their target price on Laboratory Co. of America from $240.00 to $260.00 and gave the company a “buy” rating in a report on Monday, August 5th. Robert W. Baird upped their target price on Laboratory Co. of America from $278.00 to $282.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Finally, Jefferies Financial Group upped 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. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Laboratory Co. of America has an average rating of “Moderate Buy” and an average price target of $253.00.

Insider Transactions at Laboratory Co. of America

In other news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 3,670 shares of the company’s stock, valued at $833,273.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Der Vaart Sandra D. Van sold 2,000 shares of Laboratory Co. of America stock in a transaction on Monday, August 19th. The stock was sold at an average price of $227.05, for a total transaction of $454,100.00. Following the completion of the sale, the executive vice president now owns 3,670 shares of the company’s stock, valued at approximately $833,273.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Glenn A. Eisenberg sold 15,000 shares of Laboratory Co. of America stock in a transaction on Thursday, August 15th. The shares were 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 of the company’s stock, valued at $7,008,423.11. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,679 shares of company stock valued at $6,716,306 over the last three months. Company insiders own 0.85% of the company’s stock.

Laboratory Co. of America Price Performance

Shares of NYSE LH opened at $216.39 on Monday. The stock has a fifty day simple moving average of $223.63 and a two-hundred day simple moving average of $211.97. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $238.46. The firm has a market cap of $18.24 billion, a price-to-earnings ratio of 43.54, a price-to-earnings-growth ratio of 1.67 and a beta of 1.05. 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 (NYSE:LH) last posted its quarterly earnings results on Thursday, August 1st. The medical research company reported $3.94 EPS for the quarter, topping analysts’ consensus estimates of $3.78 by $0.16. Laboratory Co. of America had a return on equity of 15.39% and a net margin of 3.60%. The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.19 billion. During the same period last year, the company earned $3.42 earnings per share. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. Analysts anticipate that Laboratory Co. of America Holdings will post 14.56 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, November 26th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend is Tuesday, November 26th. Laboratory Co. of America’s payout ratio is currently 57.95%.

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.