Folger Nolan Fleming Douglas Capital Management Inc. Has $1.05 Million Stake in Laboratory Co. of America Holdings (NYSE:LH)

Folger Nolan Fleming Douglas Capital Management Inc. decreased its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 24.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,686 shares of the medical research company’s stock after selling 1,535 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Laboratory Co. of America were worth $1,047,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Horizon Bancorp Inc. IN acquired a new position in Laboratory Co. of America in 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. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Laboratory Co. of America during the 2nd quarter worth $27,000. Innealta Capital LLC bought a new position in shares of Laboratory Co. of America in the second quarter worth $32,000. Finally, Riverview Trust Co raised its stake in Laboratory Co. of America by 172.6% in the third quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock valued at $38,000 after purchasing an additional 107 shares in the last quarter. Institutional investors own 95.94% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Piper Sandler raised their target price on shares of Laboratory Co. of America from $235.00 to $240.00 and gave the company a “neutral” rating in a report on Monday. Jefferies Financial Group boosted their price objective 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. Robert W. Baird raised their target price on Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft boosted their price target on Laboratory Co. of America from $220.00 to $230.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Finally, UBS Group raised their price objective on Laboratory Co. of America from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Laboratory Co. of America currently has an average rating of “Moderate Buy” and a consensus target price of $253.92.

Insiders Place Their Bets

In related news, Director Kerrii B. Anderson sold 1,000 shares of the stock in a transaction dated 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 transaction, the director now owns 13,722 shares in the company, valued at approximately $3,156,060. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Lance Berberian sold 12,093 shares of the firm’s 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 completion of the transaction, the executive vice president now directly owns 15,921 shares of the company’s stock, valued at approximately $3,647,501.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kerrii B. Anderson sold 1,000 shares of the 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 sale, the director now directly owns 13,722 shares in the company, 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. Insiders have sold a total of 30,679 shares of company stock valued at $6,946,306 in the last 90 days. 0.85% of the stock is currently owned by corporate insiders.

Laboratory Co. of America Trading Up 1.1 %

NYSE LH opened at $230.56 on Thursday. Laboratory Co. of America Holdings has a 52 week low of $191.97 and a 52 week high of $239.50. The company has a market cap of $19.36 billion, a price-to-earnings ratio of 44.60, a P/E/G ratio of 1.77 and a beta of 1.05. The business has a 50 day moving average price of $222.71 and a 200-day moving average price of $212.87. 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 announced its earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.48 by $0.02. The company had revenue of $3.28 billion for 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%. Laboratory Co. of America’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.38 earnings per share. As a group, equities analysts expect that Laboratory Co. of America Holdings will post 14.53 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, November 26th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.25%. The ex-dividend date is Tuesday, November 26th. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 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.