Laboratory Co. of America Holdings (NYSE:LH) is Mcrae Capital Management Inc.’s 10th Largest Position

Mcrae Capital Management Inc. boosted its position in Laboratory Co. of America Holdings (NYSE:LH) by 0.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 83,151 shares of the medical research company’s stock after purchasing an additional 764 shares during the period. Laboratory Co. of America comprises about 3.6% of Mcrae Capital Management Inc.’s investment portfolio, making the stock its 10th biggest position. Mcrae Capital Management Inc.’s holdings in Laboratory Co. of America were worth $18,583,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Industrial Alliance Investment Management Inc. bought a new stake in Laboratory Co. of America during the second quarter valued at approximately $27,000. Horizon Bancorp Inc. IN bought a new stake in shares of Laboratory Co. of America during the 3rd quarter valued at $29,000. Pathway Financial Advisers LLC bought a new stake in shares of Laboratory Co. of America during the 1st quarter valued at $30,000. Innealta Capital LLC purchased a new stake in shares of Laboratory Co. of America in the 2nd quarter worth $32,000. Finally, Family Firm Inc. bought a new position in Laboratory Co. of America in the 2nd quarter worth $37,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Insider Buying and Selling

In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $227.05, for a total transaction of $454,100.00. Following the completion of the transaction, the executive vice president now owns 3,670 shares in the company, valued at $833,273.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Glenn A. Eisenberg sold 15,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 31,289 shares of the company’s stock, valued at approximately $7,008,423.11. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Der Vaart Sandra D. Van sold 2,000 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $227.05, for a total value of $454,100.00. Following the completion of the sale, the executive vice president now owns 3,670 shares of the company’s stock, 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. Over the last 90 days, insiders have sold 30,679 shares of company stock worth $6,946,306. Insiders own 0.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on LH. Deutsche Bank Aktiengesellschaft upped their price target on Laboratory Co. of America from $220.00 to $230.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. UBS Group increased their target price on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Robert W. Baird raised their target price on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the stock an “outperform” rating in a research note on Friday. 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. Finally, Barclays raised their price objective on shares of Laboratory Co. of America from $234.00 to $249.00 and gave the company an “equal weight” rating in a research report on Friday. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Laboratory Co. of America presently has a consensus rating of “Moderate Buy” and an average target price of $253.54.

Laboratory Co. of America Stock Down 0.6 %

Shares of LH stock opened at $228.63 on Friday. The stock has a market cap of $19.20 billion, a P/E ratio of 43.30, a PEG ratio of 1.70 and a beta of 1.05. The company’s fifty day simple moving average is $222.60 and its two-hundred day simple moving average is $212.41. The company has a quick ratio of 0.77, a current ratio of 0.88 and a debt-to-equity ratio of 0.39. Laboratory Co. of America Holdings has a 52 week low of $191.97 and a 52 week high of $239.50.

Laboratory Co. of America (NYSE:LH) last posted its earnings results 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 company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.26 billion. Laboratory Co. of America had a return on equity of 15.39% and a net margin of 3.60%. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the previous year, the business earned $3.38 earnings per share. Analysts predict that Laboratory Co. of America Holdings will post 14.55 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, November 26th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Tuesday, November 26th. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 54.55%.

Laboratory Co. of America 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.