Kapitalo Investimentos Ltda Sells 3,402 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Kapitalo Investimentos Ltda cut its stake in Laboratory Co. of America Holdings (NYSE:LH) by 83.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 664 shares of the medical research company’s stock after selling 3,402 shares during the quarter. Kapitalo Investimentos Ltda’s holdings in Laboratory Co. of America were worth $151,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Provence Wealth Management Group bought a new position in shares of Laboratory Co. of America in the 3rd quarter worth about $29,000. Mendota Financial Group LLC bought a new position in shares of Laboratory Co. of America in the 4th quarter worth about $29,000. Bruce G. Allen Investments LLC bought a new position in shares of Laboratory Co. of America in the 4th quarter worth about $60,000. Disciplined Equity Management Inc. bought a new position in shares of Laboratory Co. of America in the 4th quarter worth about $68,000. Finally, Oakworth Capital Inc. increased its stake in shares of 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 worth $70,000 after acquiring an additional 100 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Der Vaart Sandra D. Van sold 3,553 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $216.74, for a total value of $770,077.22. Following the transaction, the executive vice president now owns 7,637 shares of the company’s stock, valued at $1,655,243.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Der Vaart Sandra D. Van sold 3,553 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $216.74, for a total value of $770,077.22. Following the transaction, the executive vice president now owns 7,637 shares of the company’s stock, valued at $1,655,243.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Peter J. Wilkinson sold 2,439 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $204.33, for a total transaction of $498,360.87. Following the sale, the chief accounting officer now owns 2,087 shares in the company, valued at approximately $426,436.71. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,469 shares of company stock valued at $3,959,058. 0.85% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on LH shares. SVB Leerink started coverage on shares of Laboratory Co. of America in a research note on Monday, February 26th. They issued an “outperform” rating and a $260.00 price target for the company. StockNews.com downgraded shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Tuesday, June 4th. Robert W. Baird cut their price objective on shares of Laboratory Co. of America from $255.00 to $244.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Barclays cut 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 research report on Friday, April 26th. Finally, Leerink Partnrs reissued an “outperform” rating on shares of Laboratory Co. of America in a research report on Monday, February 26th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $241.86.

Laboratory Co. of America Stock Performance

Shares of NYSE LH opened at $206.49 on Wednesday. The firm’s 50-day moving average price is $201.83 and its 200-day moving average price is $213.57. 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 company has a market cap of $17.41 billion, a PE ratio of 41.55, a PEG ratio of 1.52 and a beta of 1.04. Laboratory Co. of America Holdings has a 52-week low of $189.68 and a 52-week high of $234.09.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings results on Thursday, April 25th. The medical research company reported $3.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.48 by $0.20. The firm had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.12 billion. Laboratory Co. of America had a net margin of 3.52% and a return on equity of 14.68%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the firm posted $3.82 EPS. As a group, analysts anticipate that Laboratory Co. of America Holdings will post 14.87 EPS for the current year.

Laboratory Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Tuesday, May 28th were issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend was Friday, May 24th. Laboratory Co. of America’s payout ratio is 57.95%.

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).