Leavell Investment Management Inc. Has $1.32 Million Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Leavell Investment Management Inc. grew its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 2.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,908 shares of the medical research company’s stock after buying an additional 139 shares during the period. Leavell Investment Management Inc.’s holdings in Laboratory Co. of America were worth $1,320,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Empowered Funds LLC boosted its holdings in shares of Laboratory Co. of America by 185.4% during the 1st quarter. Empowered Funds LLC now owns 4,453 shares of the medical research company’s stock worth $973,000 after buying an additional 2,893 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Laboratory Co. of America by 283.1% during the first quarter. SG Americas Securities LLC now owns 23,217 shares of the medical research company’s stock worth $5,072,000 after acquiring an additional 17,156 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in shares of Laboratory Co. of America by 2.2% during the first quarter. Oppenheimer & Co. Inc. now owns 2,771 shares of the medical research company’s stock worth $605,000 after acquiring an additional 59 shares during the period. Forsta AP Fonden grew its position in shares of Laboratory Co. of America by 9.5% in the first quarter. Forsta AP Fonden now owns 18,400 shares of the medical research company’s stock valued at $4,020,000 after purchasing an additional 1,600 shares during the last quarter. Finally, Sei Investments Co. increased its stake in shares of Laboratory Co. of America by 9.5% during the first quarter. Sei Investments Co. now owns 131,756 shares of the medical research company’s stock worth $28,784,000 after purchasing an additional 11,441 shares during the period. 95.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

LH has been the subject of several recent research reports. Bank of America boosted their price target on 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. Deutsche Bank Aktiengesellschaft upped their price target on shares of Laboratory Co. of America from $220.00 to $230.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. UBS Group raised their price target on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Piper Sandler increased their target price 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. Finally, Evercore ISI dropped their price target on shares of Laboratory Co. of America from $250.00 to $240.00 and set an “in-line” rating for the company in a research report on Tuesday, September 24th. 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’s stock. According to data from MarketBeat.com, Laboratory Co. of America currently has an average rating of “Moderate Buy” and an average target price of $255.92.

Insider Buying and Selling at Laboratory Co. of America

In related news, CFO Glenn A. Eisenberg sold 15,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $223.99, for a total transaction of $3,359,850.00. Following the sale, the chief financial officer now owns 31,289 shares of the company’s stock, valued at $7,008,423.11. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Glenn A. Eisenberg sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $223.99, for a total value of $3,359,850.00. Following the completion of the transaction, the chief financial officer now owns 31,289 shares in the company, valued at $7,008,423.11. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 2,000 shares of Laboratory Co. of America stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $227.05, for a total transaction of $454,100.00. Following the sale, the executive vice president now owns 3,670 shares in the company, valued at approximately $833,273.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,000 shares of company stock worth $4,043,950 over the last quarter. Corporate insiders own 0.85% of the company’s stock.

Laboratory Co. of America Trading Up 1.4 %

Shares of LH opened at $242.39 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.44. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $243.78. The firm has a market cap of $20.27 billion, a price-to-earnings ratio of 46.88, a PEG ratio of 1.93 and a beta of 1.05. The business’s fifty day moving average is $223.02 and its 200-day moving average is $214.30.

Laboratory Co. of America (NYSE:LH) last released its earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.48 by $0.02. The firm 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 business’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.38 earnings per share. Equities analysts anticipate that Laboratory Co. of America Holdings will post 14.53 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, November 26th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Tuesday, November 26th. Laboratory Co. of America’s payout ratio is 55.71%.

About Laboratory Co. of America

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.