Speece Thorson Capital Group Inc. Sells 174 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Speece Thorson Capital Group Inc. decreased its stake in Laboratory Co. of America Holdings (NYSE:LH) by 0.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,623 shares of the medical research company’s stock after selling 174 shares during the quarter. Speece Thorson Capital Group Inc. owned approximately 0.06% of Laboratory Co. of America worth $10,866,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Oppenheimer Asset Management Inc. grew its position in shares of Laboratory Co. of America by 3.8% during the third quarter. Oppenheimer Asset Management Inc. now owns 12,735 shares of the medical research company’s stock worth $2,846,000 after purchasing an additional 470 shares in the last quarter. MQS Management LLC purchased a new position in Laboratory Co. of America during the 3rd quarter valued at approximately $540,000. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Laboratory Co. of America by 1.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 188,543 shares of the medical research company’s stock valued at $42,136,000 after purchasing an additional 2,339 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in shares of Laboratory Co. of America by 49.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,625 shares of the medical research company’s stock valued at $363,000 after purchasing an additional 536 shares during the last quarter. Finally, Jag Capital Management LLC lifted its stake in shares of Laboratory Co. of America by 2.1% in the 3rd quarter. Jag Capital Management LLC now owns 13,794 shares of the medical research company’s stock valued at $3,083,000 after purchasing an additional 288 shares during the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Wall Street Analysts Forecast Growth

LH has been the subject of a number of research analyst reports. Robert W. Baird raised their price target on Laboratory Co. of America from $282.00 to $289.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Evercore ISI cut their price target on Laboratory Co. of America from $250.00 to $240.00 and set an “in-line” rating on the stock in a report on Tuesday, September 24th. StockNews.com downgraded Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Hsbc Global Res upgraded Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Finally, Truist Financial lifted their price target on Laboratory Co. of America from $255.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Laboratory Co. of America presently has a consensus rating of “Moderate Buy” and a consensus price target of $255.92.

Insiders Place Their Bets

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,189 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $243.47, for a total transaction of $1,506,835.83. Following the completion of the sale, the chief executive officer now owns 87,441 shares of the company’s stock, valued at $21,289,260.27. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Adam H. Schechter sold 6,189 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $243.47, for a total transaction of $1,506,835.83. Following the completion of the transaction, the chief executive officer now directly owns 87,441 shares in the company, valued at $21,289,260.27. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 value of $3,359,850.00. Following the transaction, the chief financial officer now owns 31,289 shares of the company’s stock, valued at approximately $7,008,423.11. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,189 shares of company stock valued at $5,550,786 over the last quarter. 0.85% of the stock is owned by insiders.

Laboratory Co. of America Price Performance

Shares of Laboratory Co. of America stock traded up $2.49 during mid-day trading on Wednesday, reaching $246.75. 74,280 shares of the stock traded hands, compared to its average volume of 664,465. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $247.99. 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 stock has a market capitalization of $20.64 billion, a PE ratio of 47.25, a PEG ratio of 2.01 and a beta of 1.05. The business has a 50-day moving average of $223.60 and a 200 day moving average of $215.03.

Laboratory Co. of America (NYSE:LH) last posted 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. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The firm had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter last year, the firm earned $3.38 earnings per share. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, analysts predict that Laboratory Co. of America Holdings will post 14.53 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Tuesday, November 26th. This represents a $2.88 annualized dividend and a yield of 1.17%. Laboratory Co. of America’s dividend payout ratio (DPR) is 55.71%.

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.