Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Welch & Forbes LLC

Welch & Forbes LLC cut its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 5.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,613 shares of the medical research company’s stock after selling 139 shares during the quarter. Welch & Forbes LLC’s holdings in Laboratory Co. of America were worth $594,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Commonwealth Equity Services LLC increased its stake in Laboratory Co. of America by 1.4% during the third quarter. Commonwealth Equity Services LLC now owns 20,653 shares of the medical research company’s stock worth $4,152,000 after acquiring an additional 280 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Laboratory Co. of America by 3.8% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 8,267 shares of the medical research company’s stock valued at $1,662,000 after acquiring an additional 303 shares during the period. Robeco Institutional Asset Management B.V. raised its position in Laboratory Co. of America by 6.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 9,867 shares of the medical research company’s stock valued at $1,984,000 after purchasing an additional 566 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in Laboratory Co. of America by 5.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 25,354 shares of the medical research company’s stock worth $5,097,000 after purchasing an additional 1,237 shares in the last quarter. Finally, Verdence Capital Advisors LLC purchased a new position in shares of Laboratory Co. of America during the third quarter worth $370,000. Institutional investors and hedge funds own 95.94% of the company’s stock.

Wall Street Analyst Weigh In

LH has been the subject of a number of research analyst reports. SVB Leerink started coverage on Laboratory Co. of America in a report on Monday, February 26th. They set an “outperform” rating and a $260.00 target price for the company. Robert W. Baird dropped their price target on shares of Laboratory Co. of America from $255.00 to $244.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. Truist Financial reduced their price objective on Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. Barclays reduced their price target on Laboratory Co. of America from $234.00 to $213.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Finally, Leerink Partnrs reissued an “outperform” rating on shares of Laboratory Co. of America in a report on Monday, February 26th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Laboratory Co. of America presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.14.

Laboratory Co. of America Trading Down 0.0 %

LH stock traded down $0.09 during trading on Wednesday, reaching $201.41. 120,525 shares of the stock traded hands, compared to its average volume of 755,282. The business’s 50 day moving average price is $209.55 and its 200-day moving average price is $214.89. The firm has a market capitalization of $16.98 billion, a PE ratio of 40.54, a P/E/G ratio of 1.51 and a beta of 1.02. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.88 and a quick ratio of 0.76. Laboratory Co. of America Holdings has a 52-week low of $174.20 and a 52-week high of $234.09.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings data on Thursday, April 25th. The medical research company reported $3.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.48 by $0.20. 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 during the quarter, compared to the consensus estimate of $3.12 billion. Laboratory Co. of America’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the previous year, the firm earned $3.82 earnings per share. As a group, sell-side analysts forecast that Laboratory Co. of America Holdings will post 14.87 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 28th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date is Tuesday, May 28th. Laboratory Co. of America’s dividend payout ratio is presently 57.95%.

Insider Transactions at Laboratory Co. of America

In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 259 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $222.06, for a total value of $57,513.54. Following the completion of the transaction, 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 SEC, which can be accessed through this hyperlink. In related news, CMO Amy B. Summy sold 227 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $218.45, for a total value of $49,588.15. Following the transaction, the chief marketing officer now owns 3,859 shares in the company, valued at $842,998.55. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 259 shares of Laboratory Co. of America stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $222.06, for a total value of $57,513.54. Following the sale, the executive vice president now owns 7,637 shares in the company, valued at $1,695,872.22. The disclosure for this sale can be found here. Insiders sold 57,244 shares of company stock valued at $12,360,478 over the last quarter. Company insiders own 0.85% of the company’s stock.

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).