Everence Capital Management Inc. Sells 3,300 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Everence Capital Management Inc. lessened its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 61.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,110 shares of the medical research company’s stock after selling 3,300 shares during the period. Everence Capital Management Inc.’s holdings in Laboratory Co. of America were worth $472,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Industrial Alliance Investment Management Inc. bought a new stake in Laboratory Co. of America during the second quarter worth $27,000. Pathway Financial Advisers LLC bought a new stake in shares of Laboratory Co. of America during the 1st quarter worth $30,000. Innealta Capital LLC acquired a new stake in Laboratory Co. of America in the second quarter valued at about $32,000. Family Firm Inc. bought a new position in Laboratory Co. of America in the second quarter valued at about $37,000. Finally, Riverview Trust Co raised its stake in Laboratory Co. of America by 172.6% during the third quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock worth $38,000 after acquiring an additional 107 shares in the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Truist Financial lifted 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. Evercore ISI lowered their price target on shares of Laboratory Co. of America from $250.00 to $240.00 and set an “in-line” rating for the company in a report on Tuesday, September 24th. Robert W. Baird raised their price objective on Laboratory Co. of America from $278.00 to $282.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Bank of America boosted their price objective on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Laboratory Co. of America from $220.00 to $230.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $251.85.

Insider Transactions at Laboratory Co. of America

In related news, Director Kerrii B. Anderson sold 586 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $225.00, for a total transaction of $131,850.00. Following the transaction, the director now owns 14,722 shares in the company, valued at $3,312,450. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Kerrii B. Anderson sold 586 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $225.00, for a total value of $131,850.00. Following the completion of the sale, the director now directly owns 14,722 shares of the company’s stock, valued at $3,312,450. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Lance Berberian sold 12,093 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $229.10, for a total value of $2,770,506.30. Following the completion of the transaction, the executive vice president now owns 15,921 shares in the company, valued at approximately $3,647,501.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,679 shares of company stock valued at $6,716,306 in the last quarter. 0.85% of the stock is currently owned by company insiders.

Laboratory Co. of America Trading Down 0.8 %

LH opened at $214.13 on Tuesday. The stock has a market cap of $18.05 billion, a PE ratio of 43.08, a price-to-earnings-growth ratio of 1.67 and a beta of 1.05. The company has a quick ratio of 0.77, a current ratio of 0.88 and a debt-to-equity ratio of 0.39. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $238.46. The company has a fifty day moving average of $222.58 and a 200-day moving average of $212.02.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings data on Thursday, August 1st. The medical research company reported $3.94 earnings per share for the quarter, topping the consensus estimate of $3.78 by $0.16. Laboratory Co. of America had a return on equity of 15.39% and a net margin of 3.60%. The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.19 billion. During the same period last year, the company posted $3.42 EPS. The business’s quarterly revenue was up 6.2% on a year-over-year basis. On average, sell-side analysts predict that Laboratory Co. of America Holdings will post 14.56 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, November 26th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date is Tuesday, November 26th. Laboratory Co. of America’s payout ratio is 57.95%.

About Laboratory Co. of America

Labcorp Holdings Inc provides laboratory services. It operates through two segments, Diagnostics Laboratories and Biopharma Laboratory Services. The company offers various tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid, PAP, hemoglobin A1C and vitamin D, prostate-specific antigens, sexually transmitted diseases, hepatitis C, microbiology cultures and procedures, and alcohol and other substance-abuse tests.