Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Robeco Institutional Asset Management B.V.

Posted by Defense World Staff on Aug 3rd, 2023

Robeco Institutional Asset Management B.V. lowered its position in Laboratory Co. of America Holdings (NYSE:LH – Free Report) by 62.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,479 shares of the medical research company’s stock after selling 49,459 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Laboratory Co. of America were worth $6,763,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Zions Bancorporation N.A. increased its position in shares of Laboratory Co. of America by 45.6% in the fourth quarter. Zions Bancorporation N.A. now owns 131 shares of the medical research company’s stock valued at $31,000 after buying an additional 41 shares in the last quarter. Global Assets Advisory LLC increased its position in shares of Laboratory Co. of America by 4.8% in the fourth quarter. Global Assets Advisory LLC now owns 1,041 shares of the medical research company’s stock valued at $245,000 after buying an additional 48 shares in the last quarter. Neuberger Berman Group LLC increased its position in Laboratory Co. of America by 0.6% during the 4th quarter. Neuberger Berman Group LLC now owns 7,834 shares of the medical research company’s stock worth $1,845,000 after purchasing an additional 48 shares in the last quarter. Quantinno Capital Management LP increased its position in Laboratory Co. of America by 0.8% during the 4th quarter. Quantinno Capital Management LP now owns 6,558 shares of the medical research company’s stock worth $1,544,000 after purchasing an additional 49 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in Laboratory Co. of America by 0.9% during the 1st quarter. Van ECK Associates Corp now owns 5,298 shares of the medical research company’s stock worth $1,215,000 after purchasing an additional 49 shares in the last quarter. Hedge funds and other institutional investors own 87.75% of the company’s stock.

Laboratory Co. of America Price Performance

LH stock opened at $214.91 on Thursday. The company has a quick ratio of 2.12, a current ratio of 2.35 and a debt-to-equity ratio of 0.58. Laboratory Co. of America Holdings has a 52-week low of $166.93 and a 52-week high of $222.33. The stock’s 50 day moving average is $220.38 and its two-hundred day moving average is $229.03. The company has a market capitalization of $19.04 billion, a PE ratio of 23.18 and a beta of 1.07.

Laboratory Co. of America (NYSE:LH – Get Free Report) last posted its quarterly earnings data on Thursday, July 27th. The medical research company reported $3.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.47 by ($0.05). Laboratory Co. of America had a return on equity of 14.63% and a net margin of 5.89%. The business had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter in the prior year, the firm earned $4.96 earnings per share. Laboratory Co. of America’s revenue for the quarter was up 3.8% compared to the same quarter last year. Analysts predict that Laboratory Co. of America Holdings will post 13.64 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Tuesday, August 8th will be issued a $0.72 dividend. The ex-dividend date is Monday, August 7th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.34%. Laboratory Co. of America’s dividend payout ratio (DPR) is 31.07%.

Insider Activity

In related news, EVP Der Vaart Sandra D. Van sold 212 shares of the company’s stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $240.00, for a total transaction of $50,880.00. Following the completion of the transaction, the executive vice president now directly owns 7,605 shares in the company, valued at approximately $1,825,200. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Paul R. Kirchgraber sold 4,300 shares of the company’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $216.91, for a total transaction of $932,713.00. Following the completion of the transaction, the chief executive officer now directly owns 12,946 shares in the company, valued at approximately $2,808,116.86. 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 212 shares of the business’s stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $240.00, for a total value of $50,880.00. Following the transaction, the executive vice president now owns 7,605 shares of the company’s stock, valued at approximately $1,825,200. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,012 shares of company stock worth $1,308,748. 0.65% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

LH has been the subject of a number of recent research reports. Citigroup dropped their price objective on Laboratory Co. of America from $260.00 to $235.00 in a research report on Wednesday, April 26th. Deutsche Bank Aktiengesellschaft dropped their price objective on Laboratory Co. of America from $265.00 to $240.00 in a research report on Wednesday, April 26th. Mizuho dropped their price objective on Laboratory Co. of America from $277.00 to $257.00 in a research report on Tuesday, May 16th. StockNews.com lowered Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Finally, Credit Suisse Group decreased their price target on Laboratory Co. of America from $247.41 to $231.00 and set an “outperform” rating on the stock in a research note on Wednesday. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $259.63.

View Our Latest Research Report on Laboratory Co. of America

Laboratory Co. of America Profile

(Free Report)

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 and Labcorp Drug Development.