Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Leeward Investments LLC MA

Leeward Investments LLC MA lowered its stake in Laboratory Co. of America Holdings (NYSE:LH) by 2.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 73,456 shares of the medical research company’s stock after selling 1,967 shares during the quarter. Leeward Investments LLC MA owned 0.09% of Laboratory Co. of America worth $16,696,000 as of its most recent filing with the SEC.

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

Insider Buying and Selling

In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 34,504 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $215.97, for a total value of $7,451,828.88. Following the sale, the chief financial officer now owns 23,595 shares of the company’s stock, valued at $5,095,812.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Glenn A. Eisenberg sold 34,504 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $215.97, for a total value of $7,451,828.88. Following the sale, the chief financial officer now directly owns 23,595 shares in the company, valued at $5,095,812.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 237 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $226.45, for a total value of $53,668.65. Following the completion of the sale, the executive vice president now owns 7,637 shares in the company, valued at $1,729,398.65. The disclosure for this sale can be found here. Insiders have sold 54,305 shares of company stock valued at $11,761,059 over the last quarter. Company insiders own 0.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LH. Truist Financial cut their price objective on Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating for the company in a research report on Friday. Argus raised Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 target price for the company in a research report on Monday, March 25th. SVB Leerink assumed coverage on Laboratory Co. of America in a research report on Monday, February 26th. They issued an “outperform” rating and a $260.00 target price for the company. Barclays lowered their price objective on Laboratory Co. of America from $234.00 to $213.00 and set an “equal weight” rating for the company in a research report on Friday. Finally, Leerink Partnrs reissued an “outperform” rating on shares of Laboratory Co. of America in a research report on Monday, February 26th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $243.14.

Laboratory Co. of America Price Performance

Laboratory Co. of America stock opened at $198.40 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 0.39, a current ratio of 0.88 and a quick ratio of 1.02. The business has a 50 day simple moving average of $211.70 and a 200-day simple moving average of $214.66. The stock has a market capitalization of $16.69 billion, a PE ratio of 39.92, a price-to-earnings-growth ratio of 1.49 and a beta of 1.01.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings data on Thursday, April 25th. The medical research company reported $3.68 earnings per share for the quarter, topping analysts’ consensus estimates of $3.46 by $0.22. Laboratory Co. of America had a return on equity of 14.68% and a net margin of 3.52%. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the prior year, the company posted $3.82 earnings per share. Laboratory Co. of America’s quarterly revenue was up 4.6% on a year-over-year basis. Equities analysts predict that Laboratory Co. of America Holdings will post 14.84 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 Wednesday, June 12th. Investors of record on Tuesday, May 28th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Friday, May 24th. Laboratory Co. of America’s dividend payout ratio is presently 57.95%.

Laboratory Co. of America Company 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).