Foster & Motley Inc. Has $1.65 Million Position in Laboratory Co. of America Holdings (NYSE:LH)

Foster & Motley Inc. boosted its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 5.0% in the third quarter, Holdings Channel reports. The firm owned 7,371 shares of the medical research company’s stock after purchasing an additional 349 shares during the period. Foster & Motley Inc.’s holdings in Laboratory Co. of America were worth $1,647,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Horizon Bancorp Inc. IN acquired a new position in shares of Laboratory Co. of America in the third quarter valued at approximately $29,000. Pathway Financial Advisers LLC acquired a new position in shares of Laboratory Co. of America in the first quarter valued at approximately $30,000. Industrial Alliance Investment Management Inc. acquired a new position in shares of Laboratory Co. of America in the second quarter valued at approximately $27,000. Innealta Capital LLC acquired a new position in shares of Laboratory Co. of America in the second quarter valued at approximately $32,000. Finally, Riverview Trust Co boosted its holdings in shares of Laboratory Co. of America by 172.6% in the third quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock valued at $38,000 after buying an additional 107 shares during the period. Institutional investors and hedge funds own 95.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on LH. StockNews.com cut shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Robert W. Baird increased their target price on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Barclays increased their target price on shares of Laboratory Co. of America from $234.00 to $249.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Hsbc Global Res upgraded shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Finally, Piper Sandler upped their price target on shares of Laboratory Co. of America from $235.00 to $240.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. 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. According to data from MarketBeat.com, Laboratory Co. of America presently has an average rating of “Moderate Buy” and an average target price of $255.92.

Laboratory Co. of America Stock Up 2.3 %

Shares of NYSE LH opened at $234.38 on Thursday. The company has a 50 day simple moving average of $222.59 and a 200 day simple moving average of $213.85. The firm has a market cap of $19.60 billion, a PE ratio of 45.33, a price-to-earnings-growth ratio of 1.87 and a beta of 1.05. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $239.50. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.44 and a quick ratio of 1.30.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same quarter last year, the business earned $3.38 EPS. The company’s revenue was up 7.4% compared to the same quarter last year. On average, 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 company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, November 26th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $2.88 annualized dividend and a yield of 1.23%. Laboratory Co. of America’s payout ratio is 55.71%.

Insiders Place Their Bets

In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $230.00, for a total transaction of $230,000.00. Following the completion of the transaction, the director now owns 13,722 shares in the company, valued at approximately $3,156,060. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Kerrii B. Anderson sold 1,000 shares of Laboratory Co. of America 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 completion of the sale, the director now owns 13,722 shares in the company, valued at $3,156,060. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Glenn A. Eisenberg sold 15,000 shares of Laboratory Co. of America stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $223.99, for a total transaction 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 $7,008,423.11. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,000 shares of company stock worth $4,043,950. 0.85% of the stock is currently owned by insiders.

Laboratory Co. of America 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.