Curi RMB Capital LLC Invests $367,000 in Laboratory Co. of America Holdings (NYSE:LH)

by · The Markets Daily

Curi RMB Capital LLC purchased a new stake in shares of Laboratory Co. of America Holdings (NYSE:LH – Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,642 shares of the medical research company’s stock, valued at approximately $367,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. grew its holdings in Laboratory Co. of America by 5.9% in the first quarter. Avantax Advisory Services Inc. now owns 1,729 shares of the medical research company’s stock worth $378,000 after purchasing an additional 97 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Laboratory Co. of America by 20.6% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 88,443 shares of the medical research company’s stock worth $19,230,000 after buying an additional 15,098 shares during the last quarter. Edgestream Partners L.P. bought a new position in Laboratory Co. of America during the 1st quarter valued at approximately $4,493,000. Penobscot Investment Management Company Inc. raised its stake in Laboratory Co. of America by 5.8% during the first quarter. Penobscot Investment Management Company Inc. now owns 5,539 shares of the medical research company’s stock valued at $1,210,000 after buying an additional 304 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its holdings in Laboratory Co. of America by 4.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 4,890 shares of the medical research company’s stock worth $1,068,000 after acquiring an additional 203 shares in the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Laboratory Co. of America

In related news, CEO Adam H. Schechter sold 6,189 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $243.47, for a total transaction of $1,506,835.83. Following the completion of the transaction, the chief executive officer now directly owns 87,441 shares in the company, valued at approximately $21,289,260.27. The trade was a 6.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Der Vaart Sandra D. Van sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $227.05, for a total transaction of $454,100.00. Following the sale, the executive vice president now owns 3,670 shares in the company, valued at approximately $833,273.50. The trade was a 35.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,189 shares of company stock worth $2,190,936 in the last three months. Corporate insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Down 1.2 %

LH stock opened at $235.21 on Friday. The company has a market cap of $19.67 billion, a price-to-earnings ratio of 45.50, a P/E/G ratio of 2.03 and a beta of 1.05. 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 moving average is $224.40 and its two-hundred day moving average is $215.63. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $247.99.

Laboratory Co. of America (NYSE:LH – Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The medical research company reported $3.50 earnings per share for the quarter, topping the consensus estimate of $3.48 by $0.02. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.26 billion. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.38 EPS. As a group, analysts forecast that Laboratory Co. of America Holdings will post 14.53 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders 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 dividend yield of 1.22%. The ex-dividend date is Tuesday, November 26th. Laboratory Co. of America’s payout ratio is 55.71%.

Analyst Ratings Changes

LH has been the subject of several analyst reports. Jefferies Financial Group raised 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. UBS Group lifted 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. Hsbc Global Res upgraded shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. StockNews.com lowered shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Finally, HSBC upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Laboratory Co. of America presently has an average rating of “Moderate Buy” and a consensus price target of $255.92.

Get Our Latest Stock Report on Laboratory Co. of America

Laboratory Co. of America Company 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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