Crestmont Private Wealth LLC Buys New Position in Laboratory Co. of America Holdings (NYSE:LH)

Crestmont Private Wealth LLC purchased a new position in shares of Laboratory Co. of America Holdings (NYSE:LH) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 916 shares of the medical research company’s stock, valued at approximately $205,000.

A number of other institutional investors also recently made changes to their positions in LH. Diamond Hill Capital Management Inc. raised its holdings 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 worth $396,771,000 after purchasing an additional 395,197 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Laboratory Co. of America by 58.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,613,854 shares of the medical research company’s stock valued at $352,563,000 after buying an additional 597,571 shares during the period. Bank of New York Mellon Corp boosted its stake in Laboratory Co. of America by 135.0% during the second quarter. Bank of New York Mellon Corp now owns 1,609,826 shares of the medical research company’s stock valued at $327,616,000 after buying an additional 924,881 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Laboratory Co. of America by 2.4% during 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 acquiring an additional 33,497 shares during the period. Finally, Cooke & Bieler LP raised its position in 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 acquiring an additional 196,119 shares in the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Laboratory Co. of America

In other Laboratory Co. of America news, EVP Lance Berberian sold 12,093 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $229.10, for a total transaction of $2,770,506.30. Following the transaction, the executive vice president now directly owns 15,921 shares in the company, valued at $3,647,501.10. This trade 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 available at the SEC website. In other Laboratory Co. of America news, EVP Lance Berberian sold 12,093 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $229.10, for a total transaction of $2,770,506.30. Following the transaction, the executive vice president now owns 15,921 shares in the company, valued at $3,647,501.10. This trade 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 the SEC website. Also, Director Kerrii B. Anderson sold 586 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $225.00, for a total transaction of $131,850.00. Following the completion of the sale, the director now owns 14,722 shares of the company’s stock, valued at $3,312,450. The trade was 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 29,679 shares of company stock worth $6,716,306 in the last 90 days. 0.85% of the stock is owned by insiders.

Laboratory Co. of America Trading Up 0.7 %

Laboratory Co. of America stock opened at $216.39 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.88 and a debt-to-equity ratio of 0.39. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $238.46. The company’s fifty day simple moving average is $223.63 and its 200-day simple moving average is $212.00. The stock has a market cap of $18.24 billion, a P/E ratio of 43.54, a P/E/G ratio of 1.67 and a beta of 1.05.

Laboratory Co. of America (NYSE:LH) last issued its earnings results on Thursday, August 1st. The medical research company reported $3.94 earnings per share for the quarter, topping the consensus estimate of $3.78 by $0.16. The company had revenue of $3.22 billion for 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%. The business’s revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.42 EPS. As a group, sell-side analysts forecast that Laboratory Co. of America Holdings will post 14.56 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, November 26th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.33%. The ex-dividend date is Tuesday, November 26th. Laboratory Co. of America’s dividend payout ratio is 57.95%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on LH shares. Barclays lifted their price objective on shares of Laboratory Co. of America from $213.00 to $249.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Robert W. Baird upped their price target on Laboratory Co. of America from $278.00 to $282.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Piper Sandler initiated coverage on Laboratory Co. of America in a research report on Tuesday, October 1st. They set a “neutral” rating and a $235.00 price objective for the company. Truist Financial lifted 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. Finally, Bank of America increased their price target on Laboratory Co. of America from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $253.00.

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.