Laboratory Co. of America Holdings (NYSE:LH) Shares Bought by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC raised its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 14.6% during the third quarter, HoldingsChannel reports. The firm owned 3,933 shares of the medical research company’s stock after purchasing an additional 500 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Laboratory Co. of America were worth $879,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Upgrades and Downgrades

LH has been the topic of several recent research reports. Evercore ISI lowered their price target on shares of Laboratory Co. of America from $250.00 to $240.00 and set an “in-line” rating on the stock in a report on Tuesday, September 24th. Piper Sandler assumed coverage on Laboratory Co. of America in a research note on Tuesday, October 1st. They issued a “neutral” rating and a $235.00 target price on the stock. Robert W. Baird lifted their price target on Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a research report on Friday. StockNews.com lowered Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft lifted their target price 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. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Laboratory Co. of America presently has a consensus rating of “Moderate Buy” and an average target price of $253.54.

Insiders Place Their Bets

In related news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the company’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 transaction of $454,100.00. Following the sale, the executive vice president now directly owns 3,670 shares in the company, valued at approximately $833,273.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 15,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $223.99, for a total value of $3,359,850.00. Following the transaction, the chief financial officer now directly owns 31,289 shares in the company, valued at $7,008,423.11. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 2,000 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $227.05, for a total transaction of $454,100.00. Following the completion of the transaction, the executive vice president now directly owns 3,670 shares in the company, valued at $833,273.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,679 shares of company stock worth $6,946,306 in the last quarter. 0.85% of the stock is owned by company insiders.

Laboratory Co. of America Stock Down 0.6 %

Shares of LH opened at $228.63 on Monday. The company’s 50-day moving average price is $222.60 and its 200 day moving average price is $212.44. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $239.50. 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 $19.27 billion, a P/E ratio of 46.00, a price-to-earnings-growth ratio of 1.70 and a beta of 1.05.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings results on Thursday, October 24th. The medical research company reported $3.50 EPS for the quarter, topping the consensus estimate of $3.48 by $0.02. Laboratory Co. of America had a return on equity of 15.39% and a net margin of 3.60%. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same period last year, the business posted $3.38 earnings per share. The company’s quarterly revenue was up 7.4% on a year-over-year basis. On average, sell-side analysts forecast that Laboratory Co. of America Holdings will post 14.55 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, November 26th will be paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $2.88 annualized dividend and a yield of 1.26%. Laboratory Co. of America’s payout ratio is 57.95%.

Laboratory Co. of America 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.