Tokio Marine Asset Management Co. Ltd. cut its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH – Get Rating) by 40.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,638 shares of the medical research company’s stock after selling 1,124 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Laboratory Co. of America were worth $386,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Clarius Group LLC lifted its stake in Laboratory Co. of America by 6.0% during the fourth quarter. Clarius Group LLC now owns 1,100 shares of the medical research company’s stock worth $259,000 after purchasing an additional 62 shares during the last quarter. Camelot Portfolios LLC bought a new stake in Laboratory Co. of America during the fourth quarter worth $573,000. Heron Bay Capital Management lifted its stake in Laboratory Co. of America by 15.2% during the fourth quarter. Heron Bay Capital Management now owns 17,404 shares of the medical research company’s stock worth $4,098,000 after purchasing an additional 2,300 shares during the last quarter. MUFG Securities EMEA plc bought a new stake in Laboratory Co. of America during the fourth quarter worth $8,006,000. Finally, Harbor Investment Advisory LLC lifted its stake in Laboratory Co. of America by 8.1% during the fourth quarter. Harbor Investment Advisory LLC now owns 2,379 shares of the medical research company’s stock worth $560,000 after purchasing an additional 179 shares during the last quarter. 89.70% of the stock is currently owned by institutional investors.
Insider Transactions at Laboratory Co. of America
In related news, EVP Der Vaart Sandra D. Van sold 219 shares of the firm’s stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $243.01, for a total value of $53,219.19. Following the transaction, the executive vice president now owns 5,341 shares of the company’s stock, valued at approximately $1,297,916.41. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Paul R. Kirchgraber sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $250.58, for a total value of $2,004,640.00. Following the transaction, the chief executive officer now owns 9,069 shares of the company’s stock, valued at approximately $2,272,510.02. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 219 shares of the firm’s stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $243.01, for a total transaction of $53,219.19. Following the completion of the transaction, the executive vice president now directly owns 5,341 shares in the company, valued at approximately $1,297,916.41. The disclosure for this sale can be found here. Insiders have sold 12,598 shares of company stock valued at $3,058,283 in the last 90 days. 0.31% of the stock is currently owned by corporate insiders.
Laboratory Co. of America Price Performance
Laboratory Co. of America (NYSE:LH – Get Rating) last released its quarterly earnings data on Thursday, February 16th. The medical research company reported $4.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.06 by $0.08. The company had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.74 billion. Laboratory Co. of America had a net margin of 8.60% and a return on equity of 17.68%. The business’s revenue was down 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.77 EPS. Equities research analysts expect that Laboratory Co. of America Holdings will post 17.18 EPS for the current fiscal year.
Laboratory Co. of America Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 8th. Stockholders of record on Thursday, May 18th will be given a dividend of $0.72 per share. The ex-dividend date is Wednesday, May 17th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.24%. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 20.78%.
Analyst Ratings Changes
LH has been the subject of several research analyst reports. Morgan Stanley upped their price target on shares of Laboratory Co. of America from $290.00 to $303.00 and gave the stock an “overweight” rating in a report on Friday, January 6th. Robert W. Baird upped their price target on shares of Laboratory Co. of America to $300.00 and gave the stock an “outperform” rating in a report on Friday, February 17th. Truist Financial upped their price target on shares of Laboratory Co. of America from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, February 17th. Citigroup upped their price target on shares of Laboratory Co. of America from $250.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, February 17th. Finally, Credit Suisse Group decreased their price objective on Laboratory Co. of America from $304.00 to $288.00 and set an “outperform” rating for the company in a report on Monday, March 13th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Laboratory Co. of America presently has a consensus rating of “Moderate Buy” and an average price target of $283.50.
Laboratory Co. of America Profile
Laboratory Corp. of America Holdings operates as a life sciences company, which engages in the provision of vital information to help health professionals make clear and confident decisions. It operates through the Drug Development and Diagnostics segments. The Drug Development segment consists of lead optimization, preclinical safety assessment, analytical services, clinical trials, central laboratories, biomarkers, and companion diagnostics, market access, and technology solutions.
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