Barry Investment Advisors LLC Decreases Position in Laboratory Co. of America Holdings (NYSE:LH)

Barry Investment Advisors LLC lowered its stake in Laboratory Co. of America Holdings (NYSE:LH) by 9.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,760 shares of the medical research company’s stock after selling 301 shares during the quarter. Barry Investment Advisors LLC’s holdings in Laboratory Co. of America were worth $617,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of LH. Insight Inv LLC increased its position in shares of Laboratory Co. of America by 1.3% during the second quarter. Insight Inv LLC now owns 3,530 shares of the medical research company’s stock worth $718,000 after acquiring an additional 45 shares during the last quarter. Athena Investment Management raised its position in shares of Laboratory Co. of America by 4.8% in the 2nd quarter. Athena Investment Management now owns 1,040 shares of the medical research company’s stock valued at $212,000 after purchasing an additional 48 shares in the last quarter. Connecticut Wealth Management LLC grew its position in shares of Laboratory Co. of America by 1.8% during the first quarter. Connecticut Wealth Management LLC now owns 2,973 shares of the medical research company’s stock worth $649,000 after buying an additional 52 shares in the last quarter. Concord Wealth Partners increased its stake in shares of Laboratory Co. of America by 43.3% in the third quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock worth $38,000 after buying an additional 52 shares during the last quarter. Finally, Pure Financial Advisors LLC raised its holdings in Laboratory Co. of America by 5.1% in the second quarter. Pure Financial Advisors LLC now owns 1,089 shares of the medical research company’s stock valued at $222,000 after acquiring an additional 53 shares in the last quarter. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. UBS Group raised their price objective 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. Piper Sandler boosted their price objective on Laboratory Co. of America from $235.00 to $240.00 and gave the company a “neutral” rating in a report on Monday. Bank of America increased their target price on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Jefferies Financial Group boosted their price target on Laboratory Co. of America from $245.00 to $265.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Finally, Truist Financial raised their price objective on Laboratory Co. of America from $255.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $253.92.

Laboratory Co. of America Trading Down 0.5 %

Laboratory Co. of America stock opened at $227.42 on Tuesday. The firm has a 50-day moving average price of $222.63 and a two-hundred day moving average price of $212.59. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $239.50. The firm has a market capitalization of $19.09 billion, a price-to-earnings ratio of 43.99, a PEG ratio of 1.77 and a beta of 1.05. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.66.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings data on Thursday, October 24th. The medical research company reported $3.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.48 by $0.02. The business had revenue of $3.28 billion during 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 business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the prior year, the company posted $3.38 EPS. Sell-side analysts expect that Laboratory Co. of America Holdings will post 14.53 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

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

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 15,000 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 31,289 shares in the company, valued at approximately $7,008,423.11. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Kerrii B. Anderson sold 1,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $230.00, for a total transaction of $230,000.00. Following the completion of the transaction, the director now owns 13,722 shares of the company’s stock, valued at $3,156,060. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Glenn A. Eisenberg sold 15,000 shares of the business’s stock in a transaction dated 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 owns 31,289 shares in the company, 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 sold 30,679 shares of company stock worth $6,946,306 in the last 90 days. Corporate insiders own 0.85% of the company’s stock.

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.