Linscomb Wealth Inc. Boosts Stake in Laboratory Co. of America Holdings (NYSE:LH)

Linscomb Wealth Inc. grew its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 0.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 13,150 shares of the medical research company’s stock after acquiring an additional 106 shares during the period. Linscomb Wealth Inc.’s holdings in Laboratory Co. of America were worth $2,939,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Insight Inv LLC boosted its position in shares of Laboratory Co. of America by 1.3% in the 2nd quarter. Insight Inv LLC now owns 3,530 shares of the medical research company’s stock worth $718,000 after purchasing an additional 45 shares in the last quarter. Athena Investment Management boosted its position in shares of Laboratory Co. of America by 4.8% in the 2nd quarter. Athena Investment Management now owns 1,040 shares of the medical research company’s stock worth $212,000 after purchasing an additional 48 shares in the last quarter. Empirical Finance LLC boosted its position in shares of Laboratory Co. of America by 1.7% in the 3rd 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 in the last quarter. Concord Wealth Partners boosted its position in shares of Laboratory Co. of America by 43.3% in the 3rd 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. Finally, Pure Financial Advisors LLC boosted its position in shares of Laboratory Co. of America by 5.1% in the 2nd quarter. Pure Financial Advisors LLC now owns 1,089 shares of the medical research company’s stock worth $222,000 after purchasing an additional 53 shares in the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on LH shares. StockNews.com cut Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft upped their price objective on Laboratory Co. of America from $220.00 to $230.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. UBS Group upped their price objective on Laboratory Co. of America from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Evercore ISI lowered their target price on Laboratory Co. of America from $250.00 to $240.00 and set an “in-line” rating on the stock in a research report on Tuesday, September 24th. Finally, Piper Sandler lifted their target price on Laboratory Co. of America from $235.00 to $240.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Laboratory Co. of America presently has a consensus rating of “Moderate Buy” and an average price target of $255.92.

Laboratory Co. of America Trading Down 1.6 %

Shares of NYSE:LH traded down $3.89 during trading hours on Friday, hitting $234.29. 180,344 shares of the company’s stock traded hands, compared to its average volume of 665,894. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $247.99. The business has a fifty day moving average price of $224.18 and a 200-day moving average price of $215.41. The firm has a market capitalization of $19.60 billion, a P/E ratio of 46.21, a price-to-earnings-growth ratio of 2.03 and a beta of 1.05. 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 (NYSE:LH) last announced its quarterly earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.48 by $0.02. The firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.26 billion. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. Laboratory Co. of America’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.38 earnings per share. Equities analysts expect that Laboratory Co. of America Holdings will post 14.53 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors 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 dividend yield of 1.23%. Laboratory Co. of America’s payout ratio is 55.71%.

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,189 shares of Laboratory Co. of America stock in a transaction dated Monday, November 11th. The stock was 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 approximately $21,289,260.27. The trade was a 6.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kerrii B. Anderson sold 1,000 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $230.00, for a total value of $230,000.00. Following the completion of the transaction, the director now directly owns 13,722 shares in the company, valued at $3,156,060. This represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,189 shares of company stock worth $2,190,936. Company insiders own 0.85% of the company’s stock.

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.