Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC trimmed its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 16.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 142,968 shares of the medical research company’s stock after selling 28,488 shares during the period. Wedge Capital Management L L P NC owned approximately 0.17% of Laboratory Co. of America worth $31,950,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LH. Price T Rowe Associates Inc. MD lifted its stake in Laboratory Co. of America by 2.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 114,488 shares of the medical research company’s stock worth $25,012,000 after acquiring an additional 2,934 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Laboratory Co. of America by 17.0% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 101,019 shares of the medical research company’s stock valued at $22,069,000 after purchasing an additional 14,708 shares in the last quarter. SG Americas Securities LLC increased its stake in Laboratory Co. of America by 283.1% during the 1st quarter. SG Americas Securities LLC now owns 23,217 shares of the medical research company’s stock worth $5,072,000 after buying an additional 17,156 shares during the period. First National Bank of Mount Dora Trust Investment Services acquired a new stake in Laboratory Co. of America during the 1st quarter worth approximately $1,418,000. Finally, Duality Advisers LP boosted its position in Laboratory Co. of America by 141.3% in the 1st quarter. Duality Advisers LP now owns 29,580 shares of the medical research company’s stock valued at $6,462,000 after buying an additional 17,323 shares during the period. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Insider Transactions at Laboratory Co. of America

In related news, CFO Glenn A. Eisenberg sold 15,000 shares of Laboratory Co. of America stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $223.99, for a total value of $3,359,850.00. Following the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $227.05, for a total transaction of $454,100.00. Following the transaction, the executive vice president now owns 3,670 shares in the company, valued at $833,273.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Glenn A. Eisenberg sold 15,000 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $223.99, for a total value of $3,359,850.00. Following the completion of the sale, the chief financial officer now owns 31,289 shares of the company’s stock, valued at approximately $7,008,423.11. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,679 shares of company stock worth $6,716,306 in the last ninety days. Insiders own 0.85% of the company’s stock.

Laboratory Co. of America Trading Up 0.5 %

Shares of LH stock traded up $1.10 during mid-day trading on Monday, hitting $217.49. 66,717 shares of the company’s stock were exchanged, compared to its average volume of 662,322. The stock has a market cap of $18.33 billion, a price-to-earnings ratio of 43.54, a PEG ratio of 1.67 and a beta of 1.05. The stock has a 50-day simple moving average of $223.63 and a two-hundred day simple moving average of $211.97. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $238.46. The company has a quick ratio of 0.77, a current ratio of 0.88 and a debt-to-equity ratio of 0.39.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings results on Thursday, August 1st. The medical research company reported $3.94 EPS for the quarter, beating the consensus estimate of $3.78 by $0.16. Laboratory Co. of America had a return on equity of 15.39% and a net margin of 3.60%. The company had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.19 billion. During the same quarter in the previous year, the business earned $3.42 EPS. The firm’s revenue was up 6.2% on a year-over-year basis. Equities analysts expect that Laboratory Co. of America Holdings will post 14.56 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, November 26th will be paid a dividend of $0.72 per share. The ex-dividend date is Tuesday, November 26th. This represents a $2.88 annualized dividend and a dividend yield of 1.32%. Laboratory Co. of America’s dividend payout ratio is presently 57.95%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Barclays increased their price objective on Laboratory Co. of America from $213.00 to $249.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. StockNews.com lowered shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Laboratory Co. of America from $220.00 to $230.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Truist Financial raised their price objective on shares of Laboratory Co. of America from $255.00 to $275.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Piper Sandler began coverage on Laboratory Co. of America in a report on Tuesday, October 1st. They issued a “neutral” rating and a $235.00 target price on the stock. 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 MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $253.00.

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.