Allspring Global Investments Holdings LLC Increases Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

Allspring Global Investments Holdings LLC raised its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 16.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,865,460 shares of the medical research company’s stock after acquiring an additional 263,105 shares during the period. Laboratory Co. of America comprises approximately 0.6% of Allspring Global Investments Holdings LLC’s portfolio, making the stock its 18th biggest holding. Allspring Global Investments Holdings LLC owned about 2.21% of Laboratory Co. of America worth $416,893,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Diamond Hill Capital Management Inc. grew 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 acquiring an additional 395,197 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Laboratory Co. of America by 135.0% in the second quarter. Bank of New York Mellon Corp now owns 1,609,826 shares of the medical research company’s stock worth $327,616,000 after purchasing an additional 924,881 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Laboratory Co. of America by 2.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,417,645 shares of the medical research company’s stock worth $288,519,000 after purchasing an additional 33,497 shares during the last quarter. Cooke & Bieler LP grew its holdings in shares of Laboratory Co. of America by 26.8% in the second quarter. Cooke & Bieler LP now owns 928,250 shares of the medical research company’s stock worth $188,908,000 after purchasing an additional 196,119 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Laboratory Co. of America by 1.9% in the second quarter. American Century Companies Inc. now owns 749,819 shares of the medical research company’s stock worth $152,596,000 after purchasing an additional 14,277 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

LH has been the topic of several recent analyst reports. Robert W. Baird raised their target price on shares of Laboratory Co. of America from $278.00 to $282.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Laboratory Co. of America from $220.00 to $230.00 and gave the company a “hold” rating in a report on Friday, August 2nd. Jefferies Financial Group lifted their price target on shares of Laboratory Co. of America from $245.00 to $265.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Piper Sandler began coverage on shares of Laboratory Co. of America in a report on Tuesday, October 1st. They issued a “neutral” rating and a $235.00 price target on the stock. Finally, Barclays cut their price target on shares of Laboratory Co. of America from $249.00 to $234.00 and set an “equal weight” rating on the stock in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $251.85.

Insider Transactions at Laboratory Co. of America

In related news, EVP Der Vaart Sandra D. Van sold 2,000 shares of Laboratory Co. of America stock in a transaction dated 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 sale, the executive vice president now directly owns 3,670 shares in the company, valued at approximately $833,273.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 dated 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 sale, the executive vice president now directly owns 3,670 shares in the company, valued at approximately $833,273.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Glenn A. Eisenberg sold 15,000 shares of Laboratory Co. of America stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $223.99, for a total value of $3,359,850.00. Following the completion of the sale, the chief financial officer now owns 31,289 shares of the company’s stock, valued at $7,008,423.11. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,679 shares of company stock valued at $6,716,306 in the last quarter. 0.85% of the stock is owned by insiders.

Laboratory Co. of America Stock Up 0.3 %

Laboratory Co. of America stock traded up $0.64 on Friday, hitting $215.77. 354,097 shares of the stock traded hands, compared to its average volume of 658,739. The company has a current ratio of 0.88, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39. The firm has a market cap of $18.19 billion, a P/E ratio of 43.41, a price-to-earnings-growth ratio of 1.67 and a beta of 1.05. The business’s fifty day simple moving average is $222.76 and its 200 day simple moving average is $212.00. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $238.46.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings results on Thursday, August 1st. The medical research company reported $3.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.78 by $0.16. The firm had revenue of $3.22 billion during 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%. Laboratory Co. of America’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.42 EPS. As a group, sell-side analysts forecast 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 given a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend is Tuesday, November 26th. Laboratory Co. of America’s dividend payout ratio is presently 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.