Venturi Wealth Management LLC Buys 536 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Venturi Wealth Management LLC grew its stake in Laboratory Co. of America Holdings (NYSE:LH) by 49.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,625 shares of the medical research company’s stock after purchasing an additional 536 shares during the period. Venturi Wealth Management LLC’s holdings in Laboratory Co. of America were worth $363,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in shares of Laboratory Co. of America by 135.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,609,826 shares of the medical research company’s stock worth $327,616,000 after buying an additional 924,881 shares during the period. Diamond Hill Capital Management Inc. increased its position in shares of Laboratory Co. of America by 25.4% during the 2nd 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. Select Equity Group L.P. bought a new position in Laboratory Co. of America during the 2nd quarter valued at about $73,928,000. Allspring Global Investments Holdings LLC boosted its position in Laboratory Co. of America by 16.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,865,460 shares of the medical research company’s stock valued at $416,893,000 after buying an additional 263,105 shares in the last quarter. Finally, Magnetar Financial LLC bought a new stake in Laboratory Co. of America during the first quarter worth about $45,567,000. Institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Price Performance

NYSE LH opened at $244.26 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.44. The stock has a market cap of $20.43 billion, a price-to-earnings ratio of 47.28, a PEG ratio of 1.99 and a beta of 1.05. The business has a 50 day simple moving average of $223.31 and a 200 day simple moving average of $214.71. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $247.99.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings data on Thursday, October 24th. The medical research company reported $3.50 EPS for the quarter, topping analysts’ consensus estimates of $3.48 by $0.02. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.26 billion. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period last year, the business posted $3.38 earnings per share. Analysts anticipate that Laboratory Co. of America Holdings will post 14.53 earnings per share for the current fiscal 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 1.18%. The ex-dividend date is Tuesday, November 26th. Laboratory Co. of America’s payout ratio is 55.71%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LH. Jefferies Financial Group lifted their price objective on Laboratory Co. of America from $245.00 to $265.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Evercore ISI lowered their price objective on Laboratory Co. of America from $250.00 to $240.00 and set an “in-line” rating for the company in a research report on Tuesday, September 24th. Robert W. Baird upped 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 research report on Friday, October 25th. Truist Financial lifted their price target on shares of Laboratory Co. of America from $255.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, 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. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $255.92.

Insider Buying and Selling at Laboratory Co. of America

In other news, Director Kerrii B. Anderson sold 1,000 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $230.00, for a total value of $230,000.00. Following the sale, the director now owns 13,722 shares of the company’s stock, valued at $3,156,060. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Glenn A. Eisenberg sold 15,000 shares of the 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 approximately $7,008,423.11. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kerrii B. Anderson sold 1,000 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $230.00, for a total transaction of $230,000.00. Following the transaction, the director now owns 13,722 shares in the company, valued at approximately $3,156,060. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,000 shares of company stock worth $4,043,950. Corporate 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.