WealthBridge Investment Counsel Inc. Acquires 835 Shares of Laboratory Co. of America Holdings (NYSE:LH)

WealthBridge Investment Counsel Inc. boosted its holdings in Laboratory Co. of America Holdings (NYSE:LHFree Report) by 2.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 34,026 shares of the medical research company’s stock after purchasing an additional 835 shares during the period. Laboratory Co. of America comprises approximately 2.7% of WealthBridge Investment Counsel Inc.’s portfolio, making the stock its 15th largest holding. WealthBridge Investment Counsel Inc.’s holdings in Laboratory Co. of America were worth $7,604,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. UMB Bank n.a. bought a new position in shares of Laboratory Co. of America during the third quarter valued at about $84,000. CWM LLC raised its stake in shares of Laboratory Co. of America by 41.0% during the third quarter. CWM LLC now owns 7,107 shares of the medical research company’s stock valued at $1,588,000 after acquiring an additional 2,068 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Laboratory Co. of America by 43.3% during the third quarter. GAMMA Investing LLC now owns 1,601 shares of the medical research company’s stock valued at $358,000 after acquiring an additional 484 shares during the last quarter. Czech National Bank raised its stake in shares of Laboratory Co. of America by 6.5% during the third quarter. Czech National Bank now owns 17,104 shares of the medical research company’s stock valued at $3,822,000 after acquiring an additional 1,040 shares during the last quarter. Finally, Park Avenue Securities LLC bought a new position in shares of Laboratory Co. of America during the third quarter valued at about $1,189,000. 95.94% of the stock is owned by institutional investors.

Insider Activity at Laboratory Co. of America

In related news, CFO Glenn A. Eisenberg sold 15,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were 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 in the company, valued at $7,008,423.11. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Laboratory Co. of America news, EVP Lance Berberian sold 12,093 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $229.10, for a total value of $2,770,506.30. Following the transaction, the executive vice president now directly owns 15,921 shares in the company, valued at approximately $3,647,501.10. 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 accessible through this hyperlink. Also, CFO Glenn A. Eisenberg sold 15,000 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 31,289 shares of the company’s stock, valued at approximately $7,008,423.11. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,679 shares of company stock worth $6,716,306 over the last quarter. Company insiders own 0.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LH. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Laboratory Co. of America from $220.00 to $230.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Barclays boosted their price target on shares of Laboratory Co. of America from $213.00 to $249.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. UBS Group boosted their price target on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Robert W. Baird boosted their price target on shares of Laboratory Co. of America from $278.00 to $282.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Finally, Jefferies Financial Group boosted their price target on shares of Laboratory Co. of America from $245.00 to $265.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $253.00.

View Our Latest Stock Report on LH

Laboratory Co. of America Stock Down 0.2 %

Shares of NYSE:LH traded down $0.43 during trading on Thursday, reaching $215.15. 163,702 shares of the stock traded hands, compared to its average volume of 664,935. The stock has a 50-day moving average of $224.40 and a two-hundred day moving average of $211.97. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $238.46. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.77 and a current ratio of 0.88. The stock has a market cap of $18.14 billion, a P/E ratio of 43.38, a price-to-earnings-growth ratio of 1.74 and a beta of 1.05.

Laboratory Co. of America (NYSE:LHGet Free Report) last posted its quarterly earnings results on Thursday, August 1st. The medical research company reported $3.94 EPS for the quarter, beating analysts’ consensus estimates of $3.78 by $0.16. The firm had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.19 billion. Laboratory Co. of America had a net margin of 3.60% and a return on equity of 15.39%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.42 earnings per share. As a group, sell-side analysts expect that Laboratory Co. of America Holdings will post 14.61 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors 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 yield of 1.34%. Laboratory Co. of America’s dividend payout ratio (DPR) is 57.95%.

Laboratory Co. of America Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Laboratory Co. of America (NYSE:LH)

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