Laboratory Co. of America Holdings (NYSE:LH) Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. grew its position in Laboratory Co. of America Holdings (NYSE:LH) by 3.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,735 shares of the medical research company’s stock after acquiring an additional 470 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Laboratory Co. of America were worth $2,846,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Avantax Advisory Services Inc. lifted its position in shares of Laboratory Co. of America by 5.9% during the 1st quarter. Avantax Advisory Services Inc. now owns 1,729 shares of the medical research company’s stock valued at $378,000 after buying an additional 97 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Laboratory Co. of America by 20.6% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 88,443 shares of the medical research company’s stock valued at $19,230,000 after purchasing an additional 15,098 shares during the period. Edgestream Partners L.P. purchased a new stake in shares of Laboratory Co. of America during the first quarter worth about $4,493,000. Penobscot Investment Management Company Inc. raised its position in shares of Laboratory Co. of America by 5.8% during the 1st quarter. Penobscot Investment Management Company Inc. now owns 5,539 shares of the medical research company’s stock worth $1,210,000 after purchasing an additional 304 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC raised its position in shares of Laboratory Co. of America by 4.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,890 shares of the medical research company’s stock worth $1,068,000 after purchasing an additional 203 shares during the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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 stock was 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 directly owns 13,722 shares of the company’s stock, valued at approximately $3,156,060. The trade was a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 2,000 shares of the 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 directly owns 3,670 shares in the company, valued at approximately $833,273.50. The trade was a 35.27 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,189 shares of company stock valued at $2,190,936. Company insiders own 0.85% of the company’s stock.

Wall Street Analyst Weigh In

LH has been the subject of several research reports. Evercore ISI cut 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 boosted their price target on Laboratory Co. of America from $282.00 to $289.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Hsbc Global Res upgraded Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Piper Sandler upped 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 report on Monday, October 28th. Finally, 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 note on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $255.92.

Laboratory Co. of America Stock Down 1.2 %

LH stock opened at $235.21 on Friday. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year high of $247.99. The firm has a market cap of $19.67 billion, a PE ratio of 45.50, a PEG ratio of 2.03 and a beta of 1.05. The firm’s 50 day moving average price is $224.40 and its 200-day moving average price is $215.63. 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 (NYSE:LH) last announced its quarterly earnings results on Thursday, October 24th. The medical research company reported $3.50 EPS for the quarter, beating the consensus estimate of $3.48 by $0.02. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.26 billion. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The company’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.38 EPS. On average, equities research analysts anticipate that Laboratory Co. of America Holdings will post 14.53 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, November 26th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Tuesday, November 26th. Laboratory Co. of America’s dividend payout ratio is presently 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.