Greenleaf Trust Decreases Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

Posted by Defense World Staff on Apr 8th, 2023

Greenleaf Trust decreased its position in Laboratory Co. of America Holdings (NYSE:LH – Get Rating) by 12.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,535 shares of the medical research company’s stock after selling 219 shares during the quarter. Greenleaf Trust’s holdings in Laboratory Co. of America were worth $361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also bought and sold shares of the business. Adirondack Trust Co. purchased a new stake in shares of Laboratory Co. of America during the 3rd quarter valued at about $25,000. Eagle Bay Advisors LLC purchased a new stake in shares of Laboratory Co. of America in the second quarter worth approximately $29,000. BDO Wealth Advisors LLC lifted its stake in shares of Laboratory Co. of America by 87.5% during the 3rd quarter. BDO Wealth Advisors LLC now owns 150 shares of the medical research company’s stock worth $31,000 after acquiring an additional 70 shares during the last quarter. Quent Capital LLC boosted its holdings in Laboratory Co. of America by 186.3% during the 4th quarter. Quent Capital LLC now owns 146 shares of the medical research company’s stock valued at $34,000 after acquiring an additional 95 shares during the period. Finally, Washington Trust Advisors Inc. boosted its stake in shares of Laboratory Co. of America by 63.0% during the third quarter. Washington Trust Advisors Inc. now owns 176 shares of the medical research company’s stock valued at $36,000 after purchasing an additional 68 shares during the period. Institutional investors own 89.70% of the company’s stock.

Insider Transactions at Laboratory Co. of America

In other news, EVP Der Vaart Sandra D. Van sold 219 shares of Laboratory Co. of America stock in a transaction on Tuesday, February 7th. The stock was sold at an average price of $243.01, for a total value of $53,219.19. Following the completion of the sale, the executive vice president now directly owns 5,341 shares of the company’s stock, valued at $1,297,916.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Laboratory Co. of America news, CEO Paul R. Kirchgraber sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $250.58, for a total value of $2,004,640.00. Following the completion of the sale, the chief executive officer now owns 9,069 shares in the company, valued at $2,272,510.02. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Der Vaart Sandra D. Van sold 219 shares of the firm’s stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $243.01, for a total transaction of $53,219.19. Following the transaction, the executive vice president now owns 5,341 shares in the company, valued at $1,297,916.41. The disclosure for this sale can be found here. Insiders sold 12,598 shares of company stock worth $3,058,283 in the last 90 days. Insiders own 0.31% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. StockNews.com initiated coverage on Laboratory Co. of America in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. Citigroup boosted their target price 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. Morgan Stanley increased their target price on shares of Laboratory Co. of America from $290.00 to $303.00 and gave the company an “overweight” rating in a research report on Friday, January 6th. 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. Finally, Wells Fargo & Company cut their price objective on shares of Laboratory Co. of America from $315.00 to $290.00 and set an “overweight” rating on the stock in a report on Tuesday, February 21st. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $283.50.

Laboratory Co. of America Stock Down 0.8 %

Shares of LH opened at $232.18 on Friday. The stock’s 50-day moving average price is $235.41 and its 200-day moving average price is $232.33. The company has a quick ratio of 1.35, a current ratio of 1.50 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $20.55 billion, a price-to-earnings ratio of 16.75 and a beta of 1.04. Laboratory Co. of America Holdings has a 52 week low of $200.32 and a 52 week high of $280.72.

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 for the quarter, beating analysts’ consensus estimates of $4.06 by $0.08. Laboratory Co. of America had a net margin of 8.60% and a return on equity of 17.68%. The company had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.74 billion. During the same quarter in the previous year, the company earned $6.77 earnings per share. The firm’s revenue for the quarter was down 9.5% on a year-over-year basis. On average, sell-side analysts predict that Laboratory Co. of America Holdings will post 17.18 EPS for the current year.

Laboratory Co. of America Announces Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 1.24%. Laboratory Co. of America’s payout ratio is 20.78%.

Laboratory Co. of America Company Profile

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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.