Hotchkis & Wiley Capital Management LLC Reduces Stock Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Hotchkis & Wiley Capital Management LLC trimmed its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 1.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 392,880 shares of the medical research company’s stock after selling 3,892 shares during the period. Hotchkis & Wiley Capital Management LLC’s holdings in Laboratory Co. of America were worth $87,801,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LH. SouthState Corp bought a new position in Laboratory Co. of America in the third quarter worth about $28,000. Horizon Bancorp Inc. IN purchased a new position in shares of Laboratory Co. of America in the 3rd quarter valued at about $29,000. Industrial Alliance Investment Management Inc. purchased a new stake in Laboratory Co. of America in the second quarter valued at approximately $27,000. Innealta Capital LLC purchased a new position in shares of Laboratory Co. of America during the 2nd quarter worth approximately $32,000. Finally, Riverview Trust Co increased its stake in shares of Laboratory Co. of America by 172.6% during the 3rd quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock worth $38,000 after purchasing an additional 107 shares in the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Laboratory Co. of America Trading Down 0.2 %

NYSE LH opened at $240.69 on Tuesday. The company has a market cap of $20.13 billion, a price-to-earnings ratio of 46.55, a price-to-earnings-growth ratio of 1.98 and a beta of 1.05. 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 Holdings has a twelve month low of $191.97 and a twelve month high of $247.99. The business’s fifty day moving average is $228.01 and its 200 day moving average is $218.44.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings data on Thursday, October 24th. The medical research company reported $3.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same period in the previous year, the firm posted $3.38 EPS. The firm’s revenue was up 7.4% compared to the same quarter last year. As a group, sell-side analysts expect that Laboratory Co. of America Holdings will post 14.53 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

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 paid a $0.72 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.20%. Laboratory Co. of America’s payout ratio is currently 55.71%.

Insider Activity

In other Laboratory Co. of America news, CMO Amy B. Summy sold 3,672 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $238.91, for a total value of $877,277.52. Following the transaction, the chief marketing officer now owns 4,318 shares of the company’s stock, valued at approximately $1,031,613.38. This represents a 45.96 % decrease in their ownership of the stock. 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 company’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $230.00, for a total value of $230,000.00. Following the completion of the transaction, the director now directly owns 13,722 shares of the company’s stock, valued at approximately $3,156,060. This trade represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,861 shares of company stock worth $2,853,533 in the last quarter. Corporate insiders own 0.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LH. Hsbc Global Res raised shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. HSBC upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Evercore ISI lowered their price objective on shares of Laboratory Co. of America from $250.00 to $240.00 and set an “in-line” rating for the company in a research report on Tuesday, September 24th. StockNews.com cut shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Finally, Piper Sandler upped their target price on Laboratory Co. of America from $235.00 to $240.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Laboratory Co. of America presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.92.

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.