Tidal Investments LLC Sells 2,949 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Tidal Investments LLC reduced its position in Laboratory Co. of America Holdings (NYSE:LH) by 45.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 3,578 shares of the medical research company’s stock after selling 2,949 shares during the period. Tidal Investments LLC’s holdings in Laboratory Co. of America were worth $800,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Industrial Alliance Investment Management Inc. acquired a new stake in Laboratory Co. of America in the second quarter worth about $27,000. SouthState Corp acquired a new stake in shares of Laboratory Co. of America during the 3rd quarter worth approximately $28,000. Horizon Bancorp Inc. IN acquired a new stake in shares of Laboratory Co. of America during the 3rd quarter worth approximately $29,000. Innealta Capital LLC bought a new stake in shares of Laboratory Co. of America during the second quarter worth approximately $32,000. Finally, Family Firm Inc. acquired a new position in Laboratory Co. of America in the second quarter valued at approximately $37,000. Institutional investors own 95.94% of the company’s stock.

Insider Buying and Selling

In other news, EVP Glenn A. Eisenberg sold 11,711 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $240.43, for a total transaction of $2,815,675.73. Following the completion of the sale, the executive vice president now owns 31,289 shares in the company, valued at approximately $7,522,814.27. This trade represents a 27.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kerrii B. Anderson sold 1,000 shares of Laboratory Co. of America 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 sale, the director now directly owns 13,722 shares of the company’s stock, valued at $3,156,060. The trade was a 6.79 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,572 shares of company stock worth $5,910,209. Insiders own 0.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on LH. Bank of America upped their target price on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Hsbc Global Res upgraded Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Jefferies Financial Group restated a “buy” rating and set a $275.00 target price (up previously from $265.00) on shares of Laboratory Co. of America in a report on Tuesday, December 10th. Robert W. Baird boosted their target price on Laboratory Co. of America from $282.00 to $289.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, Morgan Stanley increased their price target on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Tuesday. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $258.62.

Laboratory Co. of America Stock Up 0.7 %

Shares of Laboratory Co. of America stock opened at $228.61 on Friday. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $247.99. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.44. The business’s 50 day simple moving average is $232.13 and its 200 day simple moving average is $221.38. The firm has a market cap of $19.12 billion, a PE ratio of 44.22, a P/E/G ratio of 1.91 and a beta of 1.05.

Laboratory Co. of America (NYSE:LH) last announced its earnings results on Thursday, October 24th. The medical research company reported $3.50 EPS for the quarter, topping the consensus estimate of $3.48 by $0.02. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter in the prior year, the company posted $3.38 earnings per share. The firm’s revenue was up 7.4% on a year-over-year basis. On average, analysts predict that Laboratory Co. of America Holdings will post 14.52 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Tuesday, November 26th were given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend was Tuesday, November 26th. 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.