State of Alaska Department of Revenue Sells 4,075 Shares of Laboratory Co. of America Holdings (NYSE:LH)

State of Alaska Department of Revenue trimmed its position in Laboratory Co. of America Holdings (NYSE:LH) by 15.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,137 shares of the medical research company’s stock after selling 4,075 shares during the period. State of Alaska Department of Revenue’s holdings in Laboratory Co. of America were worth $4,834,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Manchester Capital Management LLC increased its stake in Laboratory Co. of America by 1.1% in the 4th quarter. Manchester Capital Management LLC now owns 4,159 shares of the medical research company’s stock worth $945,000 after acquiring an additional 45 shares during the last quarter. Trust Investment Advisors raised 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 valued at $583,000 after purchasing an additional 46 shares in the last quarter. SP Asset Management LLC raised 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 valued at $3,407,000 after purchasing an additional 46 shares in the last quarter. Unison Advisors LLC lifted its position in Laboratory Co. of America by 0.5% during the first quarter. Unison Advisors LLC now owns 11,053 shares of the medical research company’s stock valued at $2,415,000 after purchasing an additional 51 shares during the last quarter. Finally, Atria Wealth Solutions Inc. grew its stake in Laboratory Co. of America by 2.8% in the 4th quarter. Atria Wealth Solutions Inc. now owns 1,969 shares of the medical research company’s stock worth $448,000 after buying an additional 53 shares in the last quarter. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $210.83, for a total value of $421,660.00. Following the completion of the transaction, the executive vice president now owns 5,637 shares in the company, valued at approximately $1,188,448.71. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 250 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $200.10, for a total value of $50,025.00. Following the sale, the director now owns 15,722 shares in the company, valued at $3,145,972.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Der Vaart Sandra D. Van sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $210.83, for a total transaction of $421,660.00. Following the transaction, the executive vice president now directly owns 5,637 shares of the company’s stock, valued at approximately $1,188,448.71. The disclosure for this sale can be found here. Insiders sold a total of 4,939 shares of company stock valued at $1,021,078 over the last three months. Corporate insiders own 0.85% of the company’s stock.

Laboratory Co. of America Trading Up 0.6 %

NYSE LH opened at $203.86 on Friday. The stock has a market cap of $17.19 billion, a P/E ratio of 41.02, a price-to-earnings-growth ratio of 1.53 and a beta of 1.05. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $234.09. The stock has a 50 day simple moving average of $202.07 and a two-hundred day simple moving average of $212.55. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.76 and a current ratio of 0.88.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings results on Thursday, April 25th. The medical research company reported $3.68 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 revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.82 earnings per share. On average, analysts forecast that Laboratory Co. of America Holdings will post 14.87 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Tuesday, May 28th were given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.41%. The ex-dividend date was Friday, May 24th. Laboratory Co. of America’s dividend payout ratio is currently 57.95%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Argus raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 price objective for the company in a report on Monday, March 25th. Barclays cut their price objective on Laboratory Co. of America from $234.00 to $213.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. JPMorgan Chase & Co. decreased their price objective on Laboratory Co. of America from $261.00 to $243.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Truist Financial cut their target price on Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating for the company in a research note on Friday, April 26th. Finally, Robert W. Baird decreased their price target on shares of Laboratory Co. of America from $255.00 to $244.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $241.86.

About Laboratory Co. of America

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).