Grove Bank & Trust Makes New Investment in Laboratory Co. of America Holdings (NYSE:LH)

Grove Bank & Trust acquired a new stake in shares of Laboratory Co. of America Holdings (NYSE:LH) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,555 shares of the medical research company’s stock, valued at approximately $794,000.

A number of other institutional investors have also modified their holdings of LH. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Laboratory Co. of America during the second quarter worth $27,000. Pathway Financial Advisers LLC acquired a new stake in shares of Laboratory Co. of America during the first quarter worth about $30,000. Innealta Capital LLC purchased a new position in Laboratory Co. of America in the second quarter valued at about $32,000. Family Firm Inc. purchased a new position in shares of Laboratory Co. of America during the 2nd quarter worth approximately $37,000. Finally, McClarren Financial Advisors Inc. increased its stake in shares of Laboratory Co. of America by 313.2% during the 1st quarter. McClarren Financial Advisors Inc. now owns 219 shares of the medical research company’s stock worth $48,000 after purchasing an additional 166 shares in the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Insider Activity at Laboratory Co. of America

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 transaction 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 approximately $7,008,423.11. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Glenn A. Eisenberg sold 15,000 shares of the business’s 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 sale, the chief financial officer now directly owns 31,289 shares in the company, valued at approximately $7,008,423.11. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 2,000 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were 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 owns 3,670 shares in the company, valued at $833,273.50. This represents 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 worth $6,716,306 in the last quarter. 0.85% of the stock is owned by insiders.

Laboratory Co. of America Trading Up 0.3 %

NYSE LH traded up $0.68 during trading on Monday, reaching $217.07. 86,000 shares of the stock traded hands, compared to its average volume of 662,420. The firm has a market cap of $18.30 billion, a price-to-earnings ratio of 43.54, a price-to-earnings-growth ratio of 1.67 and a beta of 1.05. The stock’s 50-day moving average price is $223.63 and its 200 day moving average price is $211.97. 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 fifty-two week low of $191.97 and a fifty-two week high of $238.46.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings data on Thursday, August 1st. The medical research company reported $3.94 EPS for the quarter, beating the consensus estimate of $3.78 by $0.16. Laboratory Co. of America had a net margin of 3.60% and a return on equity of 15.39%. The firm had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.19 billion. During the same period in the previous year, the company earned $3.42 earnings per share. The company’s quarterly revenue was up 6.2% on a year-over-year basis. Analysts predict that Laboratory Co. of America Holdings will post 14.56 EPS for the current year.

Laboratory Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, November 26th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $2.88 dividend on an annualized basis and a yield of 1.33%. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 57.95%.

Analyst Upgrades and Downgrades

LH has been the topic of a number of research analyst reports. StockNews.com lowered shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Monday, October 7th. Barclays boosted their price objective on shares of Laboratory Co. of America from $213.00 to $249.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Robert W. Baird boosted their target price on shares of Laboratory Co. of America from $278.00 to $282.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Piper Sandler began coverage on shares of Laboratory Co. of America in a research note on Tuesday, October 1st. They set a “neutral” rating and a $235.00 target price for the company. Finally, UBS Group upped 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 research note on Friday, August 2nd. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Laboratory Co. of America currently has an average rating of “Moderate Buy” and an average price target of $253.00.

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.