Private Advisor Group LLC Sells 730 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Private Advisor Group LLC cut its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 11.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 5,420 shares of the medical research company’s stock after selling 730 shares during the period. Private Advisor Group LLC’s holdings in Laboratory Co. of America were worth $1,103,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its holdings in shares of Laboratory Co. of America by 2.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 114,488 shares of the medical research company’s stock worth $25,012,000 after acquiring an additional 2,934 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Laboratory Co. of America by 3.0% in the 4th quarter. Northern Trust Corp now owns 1,163,252 shares of the medical research company’s stock worth $264,396,000 after acquiring an additional 33,493 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Laboratory Co. of America by 17.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 101,019 shares of the medical research company’s stock worth $22,069,000 after acquiring an additional 14,708 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Laboratory Co. of America by 283.1% in the 1st quarter. SG Americas Securities LLC now owns 23,217 shares of the medical research company’s stock worth $5,072,000 after acquiring an additional 17,156 shares during the last quarter. Finally, Bank of Nova Scotia lifted its holdings in shares of Laboratory Co. of America by 1,715.7% in the 4th quarter. Bank of Nova Scotia now owns 175,176 shares of the medical research company’s stock worth $39,814,000 after acquiring an additional 165,528 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors.

Laboratory Co. of America Stock Up 0.5 %

Shares of Laboratory Co. of America stock opened at $221.13 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39. The company’s fifty day simple moving average is $220.51 and its two-hundred day simple moving average is $211.21. The company has a market cap of $18.57 billion, a P/E ratio of 44.49, a PEG ratio of 1.68 and a beta of 1.06. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $238.46.

Laboratory Co. of America (NYSE:LH) last released its earnings results on Thursday, August 1st. The medical research company reported $3.94 earnings per share for the quarter, topping analysts’ consensus estimates of $3.78 by $0.16. The firm had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.19 billion. Laboratory Co. of America had a net margin of 3.60% and a return on equity of 15.39%. The company’s revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.42 EPS. Research analysts anticipate that Laboratory Co. of America Holdings will post 14.67 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 29th were paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date was Thursday, August 29th. Laboratory Co. of America’s payout ratio is 57.95%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Laboratory Co. of America from $261.00 to $243.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. Evercore ISI upped their price target on shares of Laboratory Co. of America from $210.00 to $215.00 and gave the company an “in-line” rating in a report on Tuesday, July 9th. Truist Financial upped their price target on shares of Laboratory Co. of America from $255.00 to $275.00 and gave the company a “buy” rating in a report on Friday, August 2nd. UBS Group upped their price target on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Barclays upped their price target on shares of Laboratory Co. of America from $213.00 to $249.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $250.82.

Insider Buying and Selling

In related news, EVP Lance Berberian sold 12,093 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $229.10, for a total value of $2,770,506.30. Following the transaction, the executive vice president now owns 15,921 shares in the company, valued at approximately $3,647,501.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $227.05, for a total transaction of $454,100.00. Following the transaction, the executive vice president now owns 3,670 shares in the company, valued at approximately $833,273.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lance Berberian sold 12,093 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $229.10, for a total transaction of $2,770,506.30. Following the transaction, the executive vice president now owns 15,921 shares in the company, valued at approximately $3,647,501.10. The disclosure for this sale can be found here. Insiders have sold a total of 29,679 shares of company stock worth $6,716,306 in the last quarter. Corporate insiders own 0.85% of the company’s stock.

Laboratory Co. of America Company 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).