Park Place Capital Corp Sells 171 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Park Place Capital Corp lowered its position in Laboratory Co. of America Holdings (NYSE:LH) by 49.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 173 shares of the medical research company’s stock after selling 171 shares during the quarter. Park Place Capital Corp’s holdings in Laboratory Co. of America were worth $38,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Manchester Capital Management LLC grew its stake in Laboratory Co. of America by 1.1% in the fourth quarter. Manchester Capital Management LLC now owns 4,159 shares of the medical research company’s stock worth $945,000 after purchasing an additional 45 shares in the last quarter. Trust Investment Advisors grew its stake in Laboratory Co. of America by 1.8% in the fourth quarter. Trust Investment Advisors now owns 2,567 shares of the medical research company’s stock worth $583,000 after purchasing an additional 46 shares in the last quarter. SP Asset Management LLC grew its stake in Laboratory Co. of America by 0.3% in the fourth quarter. SP Asset Management LLC now owns 14,992 shares of the medical research company’s stock worth $3,407,000 after purchasing an additional 46 shares in the last quarter. Unison Advisors LLC grew its stake in Laboratory Co. of America by 0.5% in the first quarter. Unison Advisors LLC now owns 11,053 shares of the medical research company’s stock worth $2,415,000 after purchasing an additional 51 shares in the last quarter. Finally, Atria Wealth Solutions Inc. grew its stake in Laboratory Co. of America by 2.8% in the fourth quarter. Atria Wealth Solutions Inc. now owns 1,969 shares of the medical research company’s stock worth $448,000 after purchasing an additional 53 shares in the last quarter. Institutional investors own 95.94% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on LH. JPMorgan Chase & Co. dropped their target price on Laboratory Co. of America from $261.00 to $243.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. StockNews.com cut Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Tuesday, June 4th. Argus raised Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 target price on the stock in a research report on Monday, March 25th. Robert W. Baird dropped their target price on 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. Finally, Truist Financial dropped their target price on Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Laboratory Co. of America currently has a consensus rating of “Moderate Buy” and a consensus price target of $241.86.

Insider Buying and Selling at Laboratory Co. of America

In other news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $210.83, for a total transaction of $421,660.00. Following the sale, the executive vice president now directly owns 5,637 shares in the company, valued at approximately $1,188,448.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Der Vaart Sandra D. Van sold 2,000 shares of Laboratory Co. of America stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $210.83, for a total value of $421,660.00. Following the sale, the executive vice president now directly owns 5,637 shares in the company, valued at approximately $1,188,448.71. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Peter J. Wilkinson sold 2,439 shares of the business’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 value of $498,360.87. Following the transaction, the chief accounting officer now owns 2,087 shares in the company, valued at $426,436.71. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,939 shares of company stock worth $1,021,078. Insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Performance

Shares of LH stock opened at $203.13 on Tuesday. The firm has a market capitalization of $17.12 billion, a price-to-earnings ratio of 40.87, a price-to-earnings-growth ratio of 1.53 and a beta of 1.05. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.88 and a quick ratio of 0.76. The business has a fifty day moving average of $202.25 and a 200 day moving average of $212.87. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $234.09.

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

Laboratory Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 28th were paid a dividend of $0.72 per share. The ex-dividend date of this dividend was Friday, May 24th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.42%. Laboratory Co. of America’s payout ratio is currently 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).