Tompkins Financial Corp Takes $223,000 Position in Laboratory Co. of America Holdings (NYSE:LH)

Tompkins Financial Corp acquired 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 & Exchange Commission. The firm acquired 1,000 shares of the medical research company’s stock, valued at approximately $223,000.

Several other institutional investors have also added to or reduced their stakes in LH. Insight Inv LLC boosted its holdings in shares of 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 purchasing an additional 45 shares in the last quarter. Athena Investment Management increased its stake 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 buying an additional 48 shares during the period. Concord Wealth Partners raised its position in shares of 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 acquiring an additional 52 shares during the last quarter. Pure Financial Advisors LLC lifted its stake in shares of Laboratory Co. of America by 5.1% in the second quarter. Pure Financial Advisors LLC now owns 1,089 shares of the medical research company’s stock worth $222,000 after acquiring an additional 53 shares during the period. Finally, SP Asset Management LLC increased its position in Laboratory Co. of America by 0.4% during the 2nd quarter. SP Asset Management LLC now owns 15,096 shares of the medical research company’s stock valued at $3,072,000 after purchasing an additional 56 shares during the period. 95.94% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Hsbc Global Res raised shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Barclays upped 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 note on Friday, October 25th. Robert W. Baird upped their target price on Laboratory Co. of America from $282.00 to $289.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft lifted their price objective 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. Finally, UBS Group lifted their target price on Laboratory Co. of America from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $255.92.

Laboratory Co. of America Stock Performance

Shares of LH stock traded up $3.34 during trading on Friday, reaching $242.39. 854,652 shares of the company’s stock traded hands, compared to its average volume of 644,964. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $243.78. The company has a market capitalization of $20.27 billion, a P/E ratio of 46.88, a PEG ratio of 1.93 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. The firm’s 50-day moving average is $223.02 and its 200 day moving average is $214.30.

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

Laboratory Co. of America Dividend Announcement

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

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 15,000 shares of the firm’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 owns 31,289 shares of the company’s stock, valued at $7,008,423.11. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $227.05, for a total value 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 approximately $833,273.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Glenn A. Eisenberg sold 15,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now owns 31,289 shares of the company’s stock, valued at $7,008,423.11. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,000 shares of company stock valued at $4,043,950 in the last three months. Company insiders own 0.85% of the company’s stock.

About Laboratory Co. of America

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.