Glenmede Trust Co. NA Increases Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

Glenmede Trust Co. NA raised its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 1.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 295,354 shares of the medical research company’s stock after buying an additional 2,949 shares during the quarter. Glenmede Trust Co. NA’s holdings in Laboratory Co. of America were worth $66,006,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Private Trust Co. NA raised its stake in Laboratory Co. of America by 3.2% during the third quarter. Private Trust Co. NA now owns 1,342 shares of the medical research company’s stock valued at $300,000 after buying an additional 41 shares during the last quarter. Insight Inv LLC raised its position in shares of Laboratory Co. of America by 1.3% in the 2nd quarter. Insight Inv LLC now owns 3,530 shares of the medical research company’s stock worth $718,000 after purchasing an additional 45 shares during the last quarter. Athena Investment Management boosted its stake in Laboratory Co. of America by 4.8% in the 2nd quarter. Athena Investment Management now owns 1,040 shares of the medical research company’s stock worth $212,000 after purchasing an additional 48 shares in the last quarter. Empirical Finance LLC grew its position in Laboratory Co. of America by 1.7% during the 3rd quarter. Empirical Finance LLC now owns 3,055 shares of the medical research company’s stock valued at $683,000 after purchasing an additional 50 shares during the last quarter. Finally, Concord Wealth Partners increased its stake in Laboratory Co. of America by 43.3% during the 3rd quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock valued at $38,000 after purchasing an additional 52 shares in the last quarter. Institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Stock Performance

Laboratory Co. of America stock opened at $238.73 on Wednesday. The company’s 50-day moving average price is $226.67 and its 200-day moving average price is $217.61. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.66. The company has a market cap of $19.97 billion, a PE ratio of 46.18, a price-to-earnings-growth ratio of 1.99 and a beta of 1.05. 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 the consensus estimate of $3.48 by $0.02. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.26 billion. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm posted $3.38 earnings per share. On average, equities research analysts forecast that Laboratory Co. of America Holdings will post 14.53 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, November 26th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Tuesday, November 26th. Laboratory Co. of America’s payout ratio is 55.71%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on LH shares. HSBC raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. Evercore ISI reduced their target price on shares of Laboratory Co. of America from $250.00 to $240.00 and set an “in-line” rating for the company in a report on Tuesday, September 24th. Jefferies Financial Group raised their price objective on Laboratory Co. of America from $245.00 to $265.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Bank of America lifted their target price on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft upped their price target 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. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Laboratory Co. of America currently has an average rating of “Moderate Buy” and an average price target of $255.92.

Insider Buying and Selling at Laboratory Co. of America

In related news, CMO Amy B. Summy sold 3,672 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was 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 in the company, valued at $1,031,613.38. The trade was a 45.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 1,000 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $239.42, for a total value of $239,420.00. Following the completion of the sale, the executive vice president now owns 2,670 shares in the company, 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. Insiders have sold 11,861 shares of company stock worth $2,853,533 over the last quarter. Insiders own 0.85% of the company’s stock.

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.