True Wealth Design LLC Boosts Position in Laboratory Co. of America Holdings (NYSE:LH)

True Wealth Design LLC raised its stake in Laboratory Co. of America Holdings (NYSE:LH) by 3,660.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 188 shares of the medical research company’s stock after buying an additional 183 shares during the period. True Wealth Design LLC’s holdings in Laboratory Co. of America were worth $42,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. OneDigital Investment Advisors LLC increased its stake in shares of Laboratory Co. of America by 115.7% during the third quarter. OneDigital Investment Advisors LLC now owns 6,088 shares of the medical research company’s stock valued at $1,361,000 after buying an additional 3,265 shares during the period. Great Valley Advisor Group Inc. purchased a new position in Laboratory Co. of America during the 2nd quarter valued at about $473,000. SG Americas Securities LLC raised its holdings in shares of Laboratory Co. of America by 35.4% in the 2nd quarter. SG Americas Securities LLC now owns 31,435 shares of the medical research company’s stock valued at $6,397,000 after purchasing an additional 8,218 shares in the last quarter. Marietta Wealth Management LLC lifted its position in shares of Laboratory Co. of America by 50.7% in the 2nd quarter. Marietta Wealth Management LLC now owns 19,540 shares of the medical research company’s stock worth $3,977,000 after purchasing an additional 6,575 shares during the period. Finally, Alexander Randolph Advisory Inc. bought a new position in shares of Laboratory Co. of America during the third quarter valued at approximately $955,000. 95.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Laboratory Co. of America

In other news, Director Kerrii B. Anderson sold 1,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $230.00, for a total value of $230,000.00. Following the completion of the transaction, the director now owns 13,722 shares of the company’s stock, valued at $3,156,060. The trade was a 6.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CMO Amy B. Summy sold 3,672 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $238.91, for a total value of $877,277.52. Following the sale, the chief marketing officer now directly owns 4,318 shares in the company, valued at approximately $1,031,613.38. This trade represents a 45.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,861 shares of company stock worth $2,853,533. Company insiders own 0.85% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on LH. Bank of America upped their target price on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Evercore ISI decreased 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. Robert W. Baird lifted their target price on Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. StockNews.com lowered shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Finally, Hsbc Global Res raised shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Five investment 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $255.92.

Laboratory Co. of America Price Performance

NYSE LH opened at $241.16 on Monday. The company has a market cap of $20.17 billion, a price-to-earnings ratio of 46.65, a PEG ratio of 1.98 and a beta of 1.05. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.44 and a quick ratio of 1.30. The stock’s fifty day moving average price is $227.70 and its 200 day moving average price is $218.25. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $247.99.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings data on Thursday, October 24th. The medical research company reported $3.50 earnings per share for the quarter, beating analysts’ consensus estimates of $3.48 by $0.02. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same period in the prior year, the company earned $3.38 earnings per share. The company’s revenue was up 7.4% on a year-over-year basis. As a group, equities research analysts forecast that Laboratory Co. of America Holdings will post 14.53 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The firm 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 1.19%. 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.