Alexander Randolph Advisory Inc. Purchases Shares of 4,146 Laboratory Co. of America Holdings (NYSE:LH)

Alexander Randolph Advisory Inc. acquired a new stake in Laboratory Co. of America Holdings (NYSE:LH) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,146 shares of the medical research company’s stock, valued at approximately $942,000. Laboratory Co. of America makes up 0.9% of Alexander Randolph Advisory Inc.’s investment portfolio, making the stock its 28th largest holding.

A number of other institutional investors have also recently made changes to their positions in the business. Provence Wealth Management Group acquired a new position in Laboratory Co. of America during the 3rd quarter worth approximately $29,000. Mendota Financial Group LLC purchased a new stake in shares of Laboratory Co. of America during the 4th quarter worth approximately $29,000. Tradewinds Capital Management LLC purchased a new stake in shares of Laboratory Co. of America during the 3rd quarter worth approximately $34,000. Exchange Traded Concepts LLC purchased a new stake in shares of Laboratory Co. of America during the 3rd quarter worth approximately $37,000. Finally, Bruce G. Allen Investments LLC purchased a new stake in shares of Laboratory Co. of America during the 4th quarter worth approximately $60,000. Institutional investors and hedge funds own 95.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on LH shares. Argus upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 price target for the company in a research report on Monday, March 25th. Robert W. Baird dropped their price objective on shares of Laboratory Co. of America from $255.00 to $244.00 and set an “outperform” rating on the stock in a research note on Friday. Leerink Partnrs reissued an “outperform” rating on shares of Laboratory Co. of America in a research note on Monday, February 26th. Truist Financial dropped their price objective on shares of Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating on the stock in a research note on Friday. Finally, TheStreet cut shares of Laboratory Co. of America from a “b-” rating to a “c+” rating in a research note on Thursday, February 15th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $243.14.

Insider Buying and Selling

In related news, CMO Amy B. Summy sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $217.29, for a total value of $760,515.00. Following the sale, the chief marketing officer now directly owns 3,975 shares of the company’s stock, valued at $863,727.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Laboratory Co. of America news, CMO Amy B. Summy sold 227 shares of Laboratory Co. of America stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $218.45, for a total transaction of $49,588.15. Following the transaction, the chief marketing officer now directly owns 3,859 shares of the company’s stock, valued at $842,998.55. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CMO Amy B. Summy sold 3,500 shares of Laboratory Co. of America stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $217.29, for a total transaction of $760,515.00. Following the transaction, the chief marketing officer now directly owns 3,975 shares in the company, valued at $863,727.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,305 shares of company stock valued at $11,761,059. Insiders own 0.85% of the company’s stock.

Laboratory Co. of America Trading Up 0.0 %

Shares of Laboratory Co. of America stock traded up $0.05 during mid-day trading on Friday, hitting $198.40. 931,317 shares of the stock were exchanged, compared to its average volume of 745,511. Laboratory Co. of America Holdings has a twelve month low of $174.20 and a twelve month high of $234.09. The stock has a market capitalization of $16.69 billion, a price-to-earnings ratio of 39.92, a price-to-earnings-growth ratio of 1.49 and a beta of 1.01. The company has a 50-day simple moving average of $211.70 and a 200 day simple moving average of $214.75. The company has a current ratio of 0.88, a quick ratio of 1.02 and a debt-to-equity ratio of 0.39.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings results on Thursday, April 25th. The medical research company reported $3.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.22. Laboratory Co. of America had a net margin of 3.52% and a return on equity of 14.68%. The company had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.12 billion. During the same period last year, the company earned $3.82 EPS. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. Research analysts forecast that Laboratory Co. of America Holdings will post 14.85 EPS for the current year.

Laboratory Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Tuesday, May 28th will be given a $0.72 dividend. The ex-dividend date of this dividend is Friday, May 24th. This represents a $2.88 annualized dividend and a dividend yield of 1.45%. Laboratory Co. of America’s dividend payout ratio is presently 57.95%.

Laboratory Co. of America Profile

Laboratory Corporation of America Holdings operates as a life sciences company that provides vital information to help doctors, hospitals, pharmaceutical companies, researchers, and patients make clear and confident decisions. It operates in two segments, Labcorp Diagnostics (Dx) and Biopharma Laboratory Services (BLS).