Barry Investment Advisors LLC Reduces Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Barry Investment Advisors LLC lowered its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 4.1% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 3,326 shares of the medical research company’s stock after selling 144 shares during the period. Barry Investment Advisors LLC’s holdings in Laboratory Co. of America were worth $727,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Mendota Financial Group LLC purchased a new position in Laboratory Co. of America in the 4th quarter valued at approximately $29,000. Bruce G. Allen Investments LLC purchased a new position in Laboratory Co. of America in the 4th quarter valued at approximately $60,000. Disciplined Equity Management Inc. purchased a new position in Laboratory Co. of America in the 4th quarter valued at approximately $68,000. Oakworth Capital Inc. boosted its position in Laboratory Co. of America by 48.1% in the 4th quarter. Oakworth Capital Inc. now owns 308 shares of the medical research company’s stock valued at $70,000 after buying an additional 100 shares during the period. Finally, Planned Solutions Inc. purchased a new position in Laboratory Co. of America in the 4th quarter valued at approximately $76,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Stock Performance

LH traded down $1.39 on Friday, reaching $203.51. The company had a trading volume of 712,464 shares, compared to its average volume of 643,284. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $234.09. The stock has a market capitalization of $17.16 billion, a PE ratio of 40.95, a P/E/G ratio of 1.53 and a beta of 1.04. The company has a quick ratio of 0.76, a current ratio of 0.88 and a debt-to-equity ratio of 0.39. The stock has a 50-day moving average price of $202.25 and a 200-day moving average price of $212.87.

Laboratory Co. of America (NYSE:LH) last announced its earnings results on Thursday, April 25th. The medical research company reported $3.68 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same period in the prior year, the company earned $3.82 earnings per share. The business’s revenue was up 4.6% compared to the same quarter last year. As a group, research analysts forecast that Laboratory Co. of America Holdings will post 14.87 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 28th were issued a $0.72 dividend. The ex-dividend date of this dividend was Friday, May 24th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.42%. Laboratory Co. of America’s payout ratio is 57.95%.

Insider Activity

In other news, COO Mark S. Schroeder sold 6,477 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $217.29, for a total value of $1,407,387.33. Following the completion of the sale, the chief operating officer now directly owns 5,036 shares of the company’s stock, valued at $1,094,272.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, COO Mark S. Schroeder sold 6,477 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $217.29, for a total transaction of $1,407,387.33. Following the transaction, the chief operating officer now directly owns 5,036 shares in the company, valued at $1,094,272.44. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 2,000 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $210.83, for a total transaction of $421,660.00. Following the transaction, the executive vice president now owns 5,637 shares in the company, valued at $1,188,448.71. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,916 shares of company stock valued at $3,188,981. Insiders own 0.85% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Robert W. Baird decreased 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 report on Friday, April 26th. Truist Financial reduced their price objective on shares of Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Barclays reduced their price objective on shares of Laboratory Co. of America from $234.00 to $213.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Argus upgraded 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 report on Monday, March 25th. Finally, StockNews.com lowered shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Tuesday, June 4th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $241.86.

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).