Laboratory Co. of America Holdings (NYSE:LH) Shares Acquired by Commonwealth Equity Services LLC

Posted by Defense World Staff on Mar 9th, 2023

Commonwealth Equity Services LLC boosted its position in Laboratory Co. of America Holdings (NYSE:LH – Get Rating) by 27.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,975 shares of the medical research company’s stock after acquiring an additional 4,348 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Laboratory Co. of America were worth $4,091,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in LH. Adirondack Trust Co. acquired a new stake in Laboratory Co. of America in the third quarter valued at approximately $25,000. Jones Financial Companies Lllp grew its holdings in Laboratory Co. of America by 91.4% during the 2nd quarter. Jones Financial Companies Lllp now owns 111 shares of the medical research company’s stock valued at $26,000 after purchasing an additional 53 shares in the last quarter. Eagle Bay Advisors LLC purchased a new stake in Laboratory Co. of America during the 2nd quarter worth $29,000. BDO Wealth Advisors LLC lifted its holdings in Laboratory Co. of America by 87.5% in the 3rd quarter. BDO Wealth Advisors LLC now owns 150 shares of the medical research company’s stock worth $31,000 after buying an additional 70 shares in the last quarter. Finally, Washington Trust Advisors Inc. boosted its position in Laboratory Co. of America by 63.0% in the 3rd quarter. Washington Trust Advisors Inc. now owns 176 shares of the medical research company’s stock valued at $36,000 after buying an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 89.70% of the company’s stock.

Insider Transactions at Laboratory Co. of America

In other news, CEO Paul R. Kirchgraber sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $250.58, for a total transaction of $2,004,640.00. Following the completion of the transaction, the chief executive officer now owns 9,069 shares in the company, valued at approximately $2,272,510.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Paul R. Kirchgraber sold 8,000 shares of the stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $250.58, for a total transaction of $2,004,640.00. Following the completion of the sale, the chief executive officer now owns 9,069 shares in the company, valued at approximately $2,272,510.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark S. Schroeder sold 309 shares of the stock in a transaction on Tuesday, February 14th. The shares were sold at an average price of $247.63, for a total value of $76,517.67. Following the completion of the transaction, the executive vice president now owns 6,687 shares of the company’s stock, valued at approximately $1,655,901.81. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,701 shares of company stock valued at $2,178,302. Corporate insiders own 0.31% of the company’s stock.

Laboratory Co. of America Trading Down 0.7 %

Shares of LH stock opened at $229.96 on Thursday. Laboratory Co. of America Holdings has a 1 year low of $200.32 and a 1 year high of $281.22. The firm has a market capitalization of $20.35 billion, a PE ratio of 16.59 and a beta of 1.06. The stock has a fifty day moving average of $246.40 and a two-hundred day moving average of $233.52. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.35 and a current ratio of 1.50.

Laboratory Co. of America (NYSE:LH – Get Rating) last posted its quarterly earnings data on Thursday, February 16th. The medical research company reported $4.14 earnings per share for the quarter, topping the consensus estimate of $4.06 by $0.08. Laboratory Co. of America had a net margin of 8.60% and a return on equity of 17.68%. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.74 billion. During the same quarter in the prior year, the company posted $6.77 earnings per share. The company’s quarterly revenue was down 9.5% compared to the same quarter last year. As a group, research analysts expect that Laboratory Co. of America Holdings will post 17.19 EPS for the current year.

Laboratory Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 13th. Stockholders of record on Thursday, February 23rd will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Wednesday, February 22nd. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 20.78%.

Analyst Upgrades and Downgrades

LH has been the topic of several recent analyst reports. Credit Suisse Group cut their price target on Laboratory Co. of America from $305.00 to $304.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 21st. Citigroup upped their price target on shares of Laboratory Co. of America from $250.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, February 17th. Robert W. Baird raised their price objective on shares of Laboratory Co. of America to $300.00 and gave the stock an “outperform” rating in a report on Friday, February 17th. Wells Fargo & Company cut their target price on shares of Laboratory Co. of America from $315.00 to $290.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 21st. Finally, Truist Financial lifted their price target on Laboratory Co. of America from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Friday, February 17th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $285.50.

Laboratory Co. of America Profile

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Laboratory Corp. of America Holdings operates as a life sciences company, which engages in the provision of vital information to help health professionals make clear and confident decisions. It operates through the Drug Development and Diagnostics segments. The Drug Development segment consists of lead optimization, preclinical safety assessment, analytical services, clinical trials, central laboratories, biomarkers, and companion diagnostics, market access, and technology solutions.