Dynamic Technology Lab Private Ltd Makes New Investment in Laboratory Co. of America Holdings (NYSE:LH)

Dynamic Technology Lab Private Ltd bought a new stake in Laboratory Co. of America Holdings (NYSE:LH) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 7,417 shares of the medical research company’s stock, valued at approximately $1,658,000.

Other hedge funds have also modified their holdings of the company. Insight Inv LLC raised its holdings in 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 valued at $718,000 after acquiring an additional 45 shares during the last quarter. Athena Investment Management increased its holdings in shares of Laboratory Co. of America by 4.8% in the second quarter. Athena Investment Management now owns 1,040 shares of the medical research company’s stock valued at $212,000 after purchasing an additional 48 shares during the last quarter. Empirical Finance LLC lifted its position in Laboratory Co. of America by 1.7% during the third quarter. Empirical Finance LLC now owns 3,055 shares of the medical research company’s stock worth $683,000 after buying an additional 50 shares in the last quarter. Concord Wealth Partners boosted its stake in Laboratory Co. of America by 43.3% during the third quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock worth $38,000 after buying an additional 52 shares during the last quarter. Finally, Pure Financial Advisors LLC grew its holdings in 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 valued at $222,000 after buying an additional 53 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 1,000 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $239.42, for a total value of $239,420.00. Following the sale, the executive vice president now directly owns 2,670 shares of the company’s stock, valued at approximately $639,251.40. This represents a 27.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Adam H. Schechter sold 6,189 shares of Laboratory Co. of America stock in a transaction on 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 sale, the chief executive officer now directly owns 87,441 shares of the company’s stock, valued at approximately $21,289,260.27. This trade represents a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,189 shares of company stock worth $1,976,256. Company insiders own 0.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. 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. Robert W. Baird boosted their target price on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a report on Friday, October 25th. UBS Group raised their price target on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. StockNews.com cut Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Finally, Piper Sandler raised their target price on Laboratory Co. of America from $235.00 to $240.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $255.92.

Laboratory Co. of America Price Performance

LH stock opened at $241.24 on Tuesday. The business’s fifty day moving average price is $226.43 and its 200 day moving average price is $217.39. 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 $20.18 billion, a PE ratio of 46.66, a P/E/G ratio of 1.97 and a beta of 1.05. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings data 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. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same quarter last year, the firm posted $3.38 earnings per share. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Laboratory Co. of America Holdings will post 14.53 EPS for the current year.

Laboratory Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, November 26th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Tuesday, November 26th. Laboratory Co. of America’s payout ratio is currently 55.71%.

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.