Laboratory Co. of America Holdings (NYSE:LH) Shares Bought by Swedbank AB

Swedbank AB increased its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 12.0% in the third quarter, Holdings Channel reports. The firm owned 56,884 shares of the medical research company’s stock after buying an additional 6,089 shares during the quarter. Swedbank AB’s holdings in Laboratory Co. of America were worth $12,712,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of LH. Price T Rowe Associates Inc. MD increased its position in Laboratory Co. of America by 2.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 114,488 shares of the medical research company’s stock worth $25,012,000 after buying an additional 2,934 shares in the last quarter. Great Valley Advisor Group Inc. acquired a new position in shares of Laboratory Co. of America during the second quarter worth $473,000. OneDigital Investment Advisors LLC boosted its holdings in Laboratory Co. of America by 115.7% in the third quarter. OneDigital Investment Advisors LLC now owns 6,088 shares of the medical research company’s stock valued at $1,361,000 after purchasing an additional 3,265 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in Laboratory Co. of America by 13.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 187,286 shares of the medical research company’s stock worth $40,259,000 after purchasing an additional 22,759 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in Laboratory Co. of America by 35.4% during the second quarter. SG Americas Securities LLC now owns 31,435 shares of the medical research company’s stock valued at $6,397,000 after purchasing an additional 8,218 shares during the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Insider Buying and Selling

In other news, CMO Amy B. Summy sold 3,672 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $238.91, for a total transaction of $877,277.52. Following the completion of the transaction, the chief marketing officer now owns 4,318 shares of the company’s stock, valued at approximately $1,031,613.38. This represents a 45.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Der Vaart Sandra D. Van sold 1,000 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $239.42, for a total transaction of $239,420.00. Following the completion of the sale, the executive vice president now owns 2,670 shares of the company’s stock, valued at approximately $639,251.40. The trade was a 27.25 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,861 shares of company stock valued at $2,853,533. Insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Down 1.1 %

LH opened at $238.73 on Wednesday. The firm has a market cap of $19.97 billion, a P/E ratio of 46.18, a price-to-earnings-growth ratio of 1.97 and a beta of 1.05. 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 business has a 50 day moving average price of $226.67 and a 200 day moving average price of $217.61. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month 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 earnings per share for the quarter, topping analysts’ consensus estimates of $3.48 by $0.02. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same period in the previous year, the company earned $3.38 earnings per share. Laboratory Co. of America’s revenue for the quarter was up 7.4% on a year-over-year basis. Research analysts forecast that Laboratory Co. of America Holdings will post 14.53 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. Stockholders of record on Tuesday, November 26th will be paid a $0.72 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.21%. Laboratory Co. of America’s payout ratio is presently 55.71%.

Analysts Set New Price Targets

LH has been the topic of a number of recent analyst reports. UBS Group lifted their price target on Laboratory Co. of America from $260.00 to $270.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft raised their price objective on Laboratory Co. of America from $220.00 to $230.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Truist Financial boosted their target price on 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. 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. Finally, Evercore ISI cut their price objective on Laboratory Co. of America from $250.00 to $240.00 and set an “in-line” rating on the stock in a report on Tuesday, September 24th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $255.92.

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.