Sheets Smith Wealth Management lessened its position in Laboratory Co. of America Holdings (NYSE:LH – Free Report) by 93.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 229 shares of the medical research company’s stock after selling 3,293 shares during the quarter. Sheets Smith Wealth Management’s holdings in Laboratory Co. of America were worth $808,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. lifted its position in Laboratory Co. of America by 4.2% during the first quarter. BlackRock Inc. now owns 11,960,111 shares of the medical research company’s stock worth $2,743,888,000 after buying an additional 485,342 shares in the last quarter. Vanguard Group Inc. lifted its position in Laboratory Co. of America by 1.0% during the first quarter. Vanguard Group Inc. now owns 10,859,128 shares of the medical research company’s stock worth $2,863,118,000 after buying an additional 106,063 shares in the last quarter. Wellington Management Group LLP lifted its position in Laboratory Co. of America by 0.4% during the first quarter. Wellington Management Group LLP now owns 2,701,334 shares of the medical research company’s stock worth $619,740,000 after buying an additional 11,259 shares in the last quarter. Lazard Asset Management LLC lifted its position in Laboratory Co. of America by 532.2% during the fourth quarter. Lazard Asset Management LLC now owns 1,530,675 shares of the medical research company’s stock worth $360,441,000 after buying an additional 1,288,574 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Laboratory Co. of America by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,476,509 shares of the medical research company’s stock worth $338,696,000 after buying an additional 15,962 shares in the last quarter. Hedge funds and other institutional investors own 89.37% of the company’s stock.
Insider Buying and Selling
In related news, 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 transaction of $50,880.00. Following the completion of the transaction, the executive vice president now directly owns 7,605 shares of the company’s stock, valued at approximately $1,825,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Der Vaart Sandra D. Van sold 212 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,825,200. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kerrii B. Anderson sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $211.57, for a total value of $1,057,850.00. Following the transaction, the director now directly owns 15,275 shares of the company’s stock, valued at $3,231,731.75. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by insiders.
Laboratory Co. of America Price Performance
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). The firm had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3.77 billion. Laboratory Co. of America had a net margin of 5.89% and a return on equity of 14.62%. Laboratory Co. of America’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.96 EPS. On average, sell-side analysts anticipate that Laboratory Co. of America Holdings will post 13.68 EPS for the current year.
Laboratory Co. of America Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Tuesday, August 8th were paid a dividend of $0.72 per share. The ex-dividend date was Monday, August 7th. This represents a $2.88 annualized dividend and a yield of 1.42%. Laboratory Co. of America’s payout ratio is 31.07%.
Analyst Upgrades and Downgrades
LH has been the topic of a number of analyst reports. StockNews.com initiated coverage on Laboratory Co. of America in a research report on Sunday. They set a “hold” rating on the stock. Robert W. Baird reduced their price objective on Laboratory Co. of America from $255.00 to $251.00 and set an “outperform” rating on the stock in a research report on Monday, July 31st. Truist Financial reduced their target price on Laboratory Co. of America from $275.00 to $270.00 and set a “buy” rating on the stock in a research report on Friday, July 28th. Wells Fargo & Company reduced their target price on Laboratory Co. of America from $290.00 to $270.00 and set an “overweight” rating on the stock in a research report on Monday, August 14th. Finally, Morgan Stanley reduced their target price on Laboratory Co. of America from $285.00 to $260.00 and set an “overweight” rating on the stock in a research report on Thursday, August 3rd. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $247.11.
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 and Labcorp Drug Development.
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