Pure Financial Advisors LLC Sells 78 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Pure Financial Advisors LLC lowered its stake in Laboratory Co. of America Holdings (NYSE:LH) by 7.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,011 shares of the medical research company’s stock after selling 78 shares during the period. Pure Financial Advisors LLC’s holdings in Laboratory Co. of America were worth $226,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Farther Finance Advisors LLC increased its position in shares of Laboratory Co. of America by 17.7% in 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 acquired a new stake in Laboratory Co. of America in the third quarter valued at about $894,000. Lodestar Private Asset Management LLC acquired a new stake in Laboratory Co. of America in the third quarter valued at about $219,000. abrdn plc boosted its stake in Laboratory Co. of America by 13.8% in the third quarter. abrdn plc now owns 76,999 shares of the medical research company’s stock valued at $17,142,000 after buying an additional 9,328 shares in the last quarter. Finally, SFE Investment Counsel boosted its stake in Laboratory Co. of America by 21.5% in the third 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 in the last quarter. Institutional investors own 95.94% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on LH shares. Hsbc Global Res raised Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Jefferies Financial Group raised their price objective on Laboratory Co. of America from $245.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Piper Sandler lifted their price target on Laboratory Co. of America from $235.00 to $240.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Truist Financial lifted their price target on 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. Finally, HSBC raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Five investment 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.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $255.92.

Laboratory Co. of America Trading Down 0.5 %

Shares of LH stock opened at $227.10 on Monday. The company has a market cap of $18.99 billion, a P/E ratio of 43.93, a PEG ratio of 1.88 and a beta of 1.05. The stock has a 50 day simple moving average of $222.59 and a two-hundred day simple moving average of $213.32. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.44. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $239.50.

Laboratory Co. of America (NYSE:LH) last issued 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. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.26 billion. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.38 earnings per share. Research analysts forecast that Laboratory Co. of America Holdings will post 14.53 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, November 26th will be issued a $0.72 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $2.88 dividend on an annualized basis and a yield of 1.27%. Laboratory Co. of America’s payout ratio is currently 55.71%.

Insiders Place Their Bets

In other news, Director Kerrii B. Anderson sold 586 shares of the business’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 sale, the director now owns 14,722 shares in the company, valued at $3,312,450. 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 other news, Director Kerrii B. Anderson sold 586 shares of the business’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 sale, the director now owns 14,722 shares in the company, valued at $3,312,450. 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. Also, EVP Der Vaart Sandra D. Van sold 2,000 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now owns 3,670 shares of the company’s stock, valued at approximately $833,273.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,586 shares of company stock worth $4,175,800. 0.85% of the stock is owned by corporate insiders.

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.