Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its stake in Laboratory Co. of America Holdings (NYSE:LH) by 6.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 150,574 shares of the medical research company’s stock after selling 10,668 shares during the quarter. New York State Common Retirement Fund’s holdings in Laboratory Co. of America were worth $34,224,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Provence Wealth Management Group acquired a new stake in Laboratory Co. of America during the 3rd quarter worth approximately $29,000. Mendota Financial Group LLC acquired a new stake in Laboratory Co. of America during the 4th quarter worth approximately $29,000. Tradewinds Capital Management LLC acquired a new stake in Laboratory Co. of America during the 3rd quarter worth approximately $34,000. Exchange Traded Concepts LLC acquired a new stake in Laboratory Co. of America during the 3rd quarter worth approximately $37,000. Finally, Bruce G. Allen Investments LLC acquired a new stake in Laboratory Co. of America during the 4th quarter worth approximately $60,000. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Laboratory Co. of America Trading Down 4.6 %

NYSE LH opened at $198.35 on Friday. Laboratory Co. of America Holdings has a 12 month low of $174.20 and a 12 month high of $234.09. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.17 and a quick ratio of 1.02. The company has a market capitalization of $16.69 billion, a price-to-earnings ratio of 42.47, a price-to-earnings-growth ratio of 1.56 and a beta of 1.01. The firm’s fifty day moving average price is $212.06 and its 200 day moving average price is $214.69.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings data on Thursday, February 15th. The medical research company reported $3.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.29 by $0.01. Laboratory Co. of America had a net margin of 3.24% and a return on equity of 13.99%. The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.02 billion. During the same period last year, the firm posted $4.14 EPS. Laboratory Co. of America’s revenue for the quarter was down 17.5% on a year-over-year basis. On average, sell-side analysts expect that Laboratory Co. of America Holdings will post 14.84 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 28th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Friday, May 24th. Laboratory Co. of America’s payout ratio is currently 61.67%.

Insiders Place Their Bets

In other news, CFO Glenn A. Eisenberg sold 34,504 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $215.97, for a total value of $7,451,828.88. Following the completion of the sale, the chief financial officer now owns 23,595 shares in the company, valued at approximately $5,095,812.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Der Vaart Sandra D. Van sold 259 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $222.06, for a total value of $57,513.54. Following the completion of the sale, the executive vice president now owns 7,637 shares in the company, valued at approximately $1,695,872.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Glenn A. Eisenberg sold 34,504 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $215.97, for a total transaction of $7,451,828.88. Following the completion of the sale, the chief financial officer now owns 23,595 shares of the company’s stock, valued at approximately $5,095,812.15. The disclosure for this sale can be found here. In 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.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. SVB Leerink assumed coverage on shares of Laboratory Co. of America in a research report on Monday, February 26th. They issued an “outperform” rating and a $260.00 price objective on the stock. Argus raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 price objective on the stock in a research report on Monday, March 25th. Leerink Partnrs reissued an “outperform” rating on shares of Laboratory Co. of America in a research report on Monday, February 26th. Barclays assumed coverage on shares of Laboratory Co. of America in a research report on Wednesday, January 3rd. They issued an “equal weight” rating and a $222.00 price objective on the stock. Finally, Evercore ISI assumed coverage on shares of Laboratory Co. of America in a research report on Friday, February 9th. They issued an “in-line” rating and a $240.00 price objective on the stock. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Laboratory Co. of America has a consensus rating of “Moderate Buy” and an average target price of $243.50.

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).