Riverview Trust Co Has $38,000 Stake in Laboratory Co. of America Holdings (NYSE:LH)

Riverview Trust Co raised its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 172.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 169 shares of the medical research company’s stock after buying an additional 107 shares during the quarter. Riverview Trust Co’s holdings in Laboratory Co. of America were worth $38,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Industrial Alliance Investment Management Inc. acquired a new position in shares of Laboratory Co. of America in the 2nd quarter worth approximately $27,000. Pathway Financial Advisers LLC bought a new position in shares of Laboratory Co. of America during the first quarter worth $30,000. Innealta Capital LLC bought a new position in Laboratory Co. of America during the second quarter worth about $32,000. Family Firm Inc. bought a new position in Laboratory Co. of America in the second quarter valued at approximately $37,000. Finally, McClarren Financial Advisors Inc. raised its stake in shares of Laboratory Co. of America by 313.2% in the 1st quarter. McClarren Financial Advisors Inc. now owns 219 shares of the medical research company’s stock valued at $48,000 after purchasing an additional 166 shares during the period. Institutional investors and hedge funds own 95.94% of the company’s stock.

Analyst Ratings Changes

LH has been the subject of a number of recent research reports. Bank of America increased their price objective on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Piper Sandler assumed coverage on shares of Laboratory Co. of America in a research note on Tuesday, October 1st. They issued a “neutral” rating and a $235.00 price objective on the stock. Jefferies Financial Group boosted their price objective on Laboratory Co. of America from $245.00 to $265.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Robert W. Baird increased their target price on Laboratory Co. of America from $278.00 to $282.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Finally, StockNews.com upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Thursday. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $251.85.

Insider Activity

In related news, EVP Lance Berberian sold 12,093 shares of Laboratory Co. of America stock in a transaction 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 sale, the executive vice president now directly owns 15,921 shares in the company, valued at approximately $3,647,501.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Lance Berberian sold 12,093 shares of Laboratory Co. of America stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $229.10, for a total value of $2,770,506.30. Following the completion of the sale, the executive vice president now owns 15,921 shares of the company’s stock, valued at approximately $3,647,501.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 2,000 shares of Laboratory Co. of America 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 transaction, the executive vice president now directly owns 3,670 shares of the company’s stock, valued at $833,273.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,679 shares of company stock valued at $6,716,306 over the last three months. Corporate insiders own 0.85% of the company’s stock.

Laboratory Co. of America Price Performance

LH stock opened at $215.77 on Friday. The firm has a market cap of $18.19 billion, a price-to-earnings ratio of 43.41, a PEG ratio of 1.67 and a beta of 1.05. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $238.46. The company has a quick ratio of 0.77, a current ratio of 0.88 and a debt-to-equity ratio of 0.39. The company’s fifty day simple moving average is $222.76 and its 200 day simple moving average is $212.00.

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

Laboratory Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, November 26th will be paid 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 dividend yield of 1.33%. Laboratory Co. of America’s payout ratio is presently 57.95%.

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.