Cohen Capital Management Inc. Grows Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

Cohen Capital Management Inc. boosted its position in Laboratory Co. of America Holdings (NYSE:LH) by 2.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,896 shares of the medical research company’s stock after buying an additional 330 shares during the period. Cohen Capital Management Inc.’s holdings in Laboratory Co. of America were worth $3,329,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Laboratory Co. of America in the second quarter valued at about $27,000. Horizon Bancorp Inc. IN acquired a new stake in Laboratory Co. of America in the third quarter valued at about $29,000. Pathway Financial Advisers LLC purchased a new stake in Laboratory Co. of America in the 1st quarter valued at approximately $30,000. Innealta Capital LLC acquired a new position in Laboratory Co. of America during the 2nd quarter worth approximately $32,000. Finally, Family Firm Inc. purchased a new position in shares of Laboratory Co. of America during the 2nd quarter worth approximately $37,000. 95.94% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 586 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $225.00, for a total transaction of $131,850.00. Following the transaction, the director now owns 14,722 shares of the company’s stock, valued at $3,312,450. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Kerrii B. Anderson sold 586 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $225.00, for a total transaction of $131,850.00. Following the transaction, the director now directly owns 14,722 shares in the company, valued at $3,312,450. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kerrii B. Anderson sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $230.00, for a total transaction of $230,000.00. Following the completion of the sale, the director now owns 13,722 shares of the company’s stock, valued at approximately $3,156,060. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,586 shares of company stock worth $4,175,800. 0.85% of the stock is owned by insiders.

Laboratory Co. of America Stock Performance

Laboratory Co. of America stock opened at $227.10 on Monday. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $239.50. The company has a market capitalization of $18.99 billion, a price-to-earnings ratio of 43.93, a PEG ratio of 1.88 and a beta of 1.05. The stock has a fifty day moving average of $222.59 and a two-hundred day moving average of $213.32. 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 posted its quarterly earnings data on Thursday, October 24th. The medical research company reported $3.50 EPS for the quarter, topping analysts’ consensus estimates of $3.48 by $0.02. The firm had revenue of $3.28 billion during 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 firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the business posted $3.38 EPS. On average, analysts anticipate that Laboratory Co. of America Holdings will post 14.53 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The company 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 dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Tuesday, November 26th. Laboratory Co. of America’s payout ratio is 55.71%.

Analyst Upgrades and Downgrades

LH has been the topic of a number of analyst reports. Piper Sandler lifted their price target on Laboratory Co. of America from $235.00 to $240.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Evercore ISI decreased their target price on shares of Laboratory Co. of America from $250.00 to $240.00 and set an “in-line” rating on the stock in a research report on Tuesday, September 24th. Truist Financial increased their price target on shares of Laboratory Co. of America from $255.00 to $275.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Hsbc Global Res raised shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Finally, Robert W. Baird lifted their price target on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Laboratory Co. of America currently has an average rating of “Moderate Buy” and an average target price of $255.92.

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.