Tempus Wealth Planning LLC Raises Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Tempus Wealth Planning LLC increased its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 13.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 1,989 shares of the medical research company’s stock after acquiring an additional 242 shares during the period. Tempus Wealth Planning LLC’s holdings in Laboratory Co. of America were worth $444,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in LH. Bank of New York Mellon Corp grew its position in Laboratory Co. of America by 135.0% in the second quarter. Bank of New York Mellon Corp now owns 1,609,826 shares of the medical research company’s stock worth $327,616,000 after acquiring an additional 924,881 shares during the period. Diamond Hill Capital Management Inc. grew its stake in shares of Laboratory Co. of America by 25.4% in the second quarter. Diamond Hill Capital Management Inc. now owns 1,949,640 shares of the medical research company’s stock valued at $396,771,000 after buying an additional 395,197 shares in the last quarter. Select Equity Group L.P. acquired a new stake in shares of Laboratory Co. of America in the second quarter valued at $73,928,000. Allspring Global Investments Holdings LLC grew its stake in shares of Laboratory Co. of America by 16.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,865,460 shares of the medical research company’s stock valued at $416,893,000 after buying an additional 263,105 shares in the last quarter. Finally, Magnetar Financial LLC acquired a new stake in shares of Laboratory Co. of America in the first quarter valued at $45,567,000. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Laboratory Co. of America Stock Up 3.0 %

Laboratory Co. of America stock opened at $220.51 on Wednesday. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $238.46. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.77 and a current ratio of 0.88. The company has a market capitalization of $18.59 billion, a P/E ratio of 44.37, a PEG ratio of 1.67 and a beta of 1.05. The stock has a 50-day simple moving average of $222.50 and a 200-day simple moving average of $212.08.

Laboratory Co. of America (NYSE:LH) last posted its earnings results on Thursday, August 1st. The medical research company reported $3.94 earnings per share for the quarter, beating the consensus estimate of $3.78 by $0.16. Laboratory Co. of America had a return on equity of 15.39% and a net margin of 3.60%. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same period in the previous year, the business earned $3.42 EPS. The business’s quarterly revenue was up 6.2% on a year-over-year basis. Equities research analysts expect that Laboratory Co. of America Holdings will post 14.56 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, November 26th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Tuesday, November 26th. Laboratory Co. of America’s payout ratio is currently 57.95%.

Insider Activity

In related news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $227.05, for a total value of $454,100.00. Following the transaction, the executive vice president now owns 3,670 shares in the company, valued at $833,273.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $227.05, for a total value of $454,100.00. Following the transaction, the executive vice president now owns 3,670 shares in the company, valued at $833,273.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Kerrii B. Anderson sold 586 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $225.00, for a total value of $131,850.00. Following the completion of the transaction, the director now owns 14,722 shares in the company, valued at $3,312,450. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 29,679 shares of company stock valued at $6,716,306. Insiders own 0.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on LH shares. Truist Financial lifted their price objective on Laboratory Co. of America from $255.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Robert W. Baird lifted their price objective on Laboratory Co. of America from $278.00 to $282.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Barclays dropped their price objective on Laboratory Co. of America from $249.00 to $234.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 16th. Evercore ISI dropped their price objective on Laboratory Co. of America from $250.00 to $240.00 and set an “in-line” rating for the company in a research note on Tuesday, September 24th. Finally, StockNews.com raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $251.85.

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.