Moody National Bank Trust Division Buys New Position in Laboratory Co. of America Holdings (NYSE:LH)

Posted by Defense World Staff on Mar 21st, 2023

Moody National Bank Trust Division bought a new stake in shares of Laboratory Co. of America Holdings (NYSE:LH – Get Rating) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 901 shares of the medical research company’s stock, valued at approximately $212,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Adirondack Trust Co. purchased a new position in Laboratory Co. of America during the 3rd quarter valued at about $25,000. Eagle Bay Advisors LLC acquired a new stake in Laboratory Co. of America in the 2nd quarter valued at about $29,000. BDO Wealth Advisors LLC raised its position 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 valued at $31,000 after purchasing an additional 70 shares in the last quarter. Washington Trust Advisors Inc. raised 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 purchasing an additional 68 shares in the last quarter. Finally, Old North State Trust LLC acquired a new stake in Laboratory Co. of America in the 3rd quarter valued at about $41,000. 89.70% of the stock is currently owned by hedge funds and other institutional investors.

Laboratory Co. of America Trading Up 1.9 %

NYSE:LH opened at $217.39 on Tuesday. The stock’s 50 day moving average price is $243.33 and its 200 day moving average price is $232.81. The company has a market capitalization of $19.24 billion, a PE ratio of 15.68 and a beta of 1.06. The company has a quick ratio of 1.35, a current ratio of 1.50 and a debt-to-equity ratio of 0.51. Laboratory Co. of America Holdings has a 52-week low of $200.32 and a 52-week high of $281.22.

Laboratory Co. of America (NYSE:LH – Get Rating) last released its quarterly earnings results on Thursday, February 16th. The medical research company reported $4.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.06 by $0.08. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.74 billion. Laboratory Co. of America had a return on equity of 17.68% and a net margin of 8.60%. The firm’s quarterly revenue was down 9.5% compared to the same quarter last year. During the same quarter last year, the business posted $6.77 EPS. On average, research analysts anticipate that Laboratory Co. of America Holdings will post 17.18 EPS for the current year.

Laboratory Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 13th. Shareholders of record on Thursday, February 23rd were paid a $0.72 dividend. The ex-dividend date of this dividend was Wednesday, February 22nd. This represents a $2.88 annualized dividend and a dividend yield of 1.32%. Laboratory Co. of America’s dividend payout ratio (DPR) is currently 20.78%.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 219 shares of Laboratory Co. of America stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $243.01, for a total value of $53,219.19. Following the transaction, the executive vice president now directly owns 5,341 shares in the company, valued at approximately $1,297,916.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 219 shares of Laboratory Co. of America stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $243.01, for a total value of $53,219.19. Following the transaction, the executive vice president now directly owns 5,341 shares in the company, valued at approximately $1,297,916.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Der Vaart Sandra D. Van sold 173 shares of Laboratory Co. of America stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $253.90, for a total value of $43,924.70. Following the completion of the transaction, the executive vice president now owns 5,341 shares in the company, valued at $1,356,079.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,701 shares of company stock worth $2,178,302. 0.31% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have issued reports on LH. Mizuho increased their price target on Laboratory Co. of America from $250.00 to $277.00 and gave the company a “buy” rating in a research report on Friday, February 17th. Morgan Stanley increased their price target on Laboratory Co. of America from $290.00 to $303.00 and gave the company an “overweight” rating in a research report on Friday, January 6th. Credit Suisse Group reduced their price target on Laboratory Co. of America from $304.00 to $288.00 and set an “outperform” rating on the stock in a research report on Monday, March 13th. StockNews.com started coverage on Laboratory Co. of America in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Finally, Wells Fargo & Company cut their target price on Laboratory Co. of America from $315.00 to $290.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 21st. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $283.50.

Laboratory Co. of America Company 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.