Capital City Trust Co. FL Buys 89 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Capital City Trust Co. FL raised its position in Laboratory Co. of America Holdings (NYSE:LH) by 0.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,330 shares of the medical research company’s stock after purchasing an additional 89 shares during the quarter. Capital City Trust Co. FL’s holdings in Laboratory Co. of America were worth $3,426,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of LH. Industrial Alliance Investment Management Inc. bought a new position in shares of Laboratory Co. of America during the second quarter worth about $27,000. Horizon Bancorp Inc. IN acquired a new position in Laboratory Co. of America during the 3rd quarter worth approximately $29,000. Pathway Financial Advisers LLC bought a new position in shares of Laboratory Co. of America during the 1st quarter worth approximately $30,000. Innealta Capital LLC acquired a new stake in shares of Laboratory Co. of America in the second quarter valued at approximately $32,000. Finally, Family Firm Inc. acquired a new stake in shares of Laboratory Co. of America in the second quarter valued at approximately $37,000. Institutional investors and hedge funds own 95.94% of the company’s stock.

Laboratory Co. of America Stock Performance

NYSE LH opened at $235.21 on Monday. The firm has a 50-day moving average price of $224.40 and a two-hundred day moving average price of $215.83. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $247.99. The company has a market capitalization of $19.67 billion, a P/E ratio of 45.50, a P/E/G ratio of 1.93 and a beta of 1.05. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.66.

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

Laboratory Co. of America Dividend Announcement

The business 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 dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Tuesday, November 26th. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 55.71%.

Insider Buying and Selling

In other news, CEO Adam H. Schechter sold 6,189 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $243.47, for a total value of $1,506,835.83. Following the completion of the transaction, the chief executive officer now owns 87,441 shares of the company’s stock, valued at $21,289,260.27. This represents a 6.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Kerrii B. Anderson sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $230.00, for a total transaction of $230,000.00. Following the completion of the transaction, the director now owns 13,722 shares of the company’s stock, valued at approximately $3,156,060. This trade represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. 0.85% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on LH shares. Hsbc Global Res raised shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. StockNews.com cut Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Truist Financial upped their target price on Laboratory Co. of America from $255.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. UBS Group raised their price target on Laboratory Co. of America from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, Barclays boosted their price target on Laboratory Co. of America from $234.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Five 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’s stock. According to data from MarketBeat.com, Laboratory Co. of America has an average rating of “Moderate Buy” and an average price target of $255.92.

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.