IFM Investors Pty Ltd Sells 941 Shares of Laboratory Co. of America Holdings (NYSE:LH)

IFM Investors Pty Ltd reduced its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 5.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 16,619 shares of the medical research company’s stock after selling 941 shares during the period. IFM Investors Pty Ltd’s holdings in Laboratory Co. of America were worth $3,714,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Laboratory Co. of America by 3.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 16,581 shares of the medical research company’s stock worth $3,622,000 after acquiring an additional 550 shares during the last quarter. Aviance Capital Partners LLC increased its position in Laboratory Co. of America by 7.7% during the 1st quarter. Aviance Capital Partners LLC now owns 3,808 shares of the medical research company’s stock worth $832,000 after purchasing an additional 272 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in Laboratory Co. of America in the 1st quarter valued at approximately $3,431,000. Valeo Financial Advisors LLC boosted its position in Laboratory Co. of America by 9.3% in the first quarter. Valeo Financial Advisors LLC now owns 7,823 shares of the medical research company’s stock valued at $1,709,000 after buying an additional 666 shares in the last quarter. Finally, Hudson Capital Management LLC grew its stake in shares of Laboratory Co. of America by 7.0% during the first quarter. Hudson Capital Management LLC now owns 15,821 shares of the medical research company’s stock worth $3,456,000 after buying an additional 1,031 shares during the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Lance Berberian sold 12,093 shares of Laboratory Co. of America stock in a transaction on Monday, August 5th. The stock was sold at an average price of $229.10, for a total transaction of $2,770,506.30. Following the sale, the executive vice president now directly owns 15,921 shares in the company, valued at $3,647,501.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 15,000 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $223.99, for a total transaction of $3,359,850.00. Following the completion of the transaction, the chief financial officer now directly owns 31,289 shares of the company’s stock, valued at approximately $7,008,423.11. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lance Berberian sold 12,093 shares of the business’s stock in a transaction on 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,679 shares of company stock valued at $6,946,306. Insiders own 0.85% of the company’s stock.

Analyst Upgrades and Downgrades

LH has been the subject of a number of research reports. Jefferies Financial Group increased their price target on Laboratory Co. of America from $245.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. UBS Group lifted their price target on Laboratory Co. of America from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Robert W. Baird upped their price objective on Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a research note on Friday. Bank of America lifted their target price on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, Evercore ISI lowered their price objective on Laboratory Co. of America from $250.00 to $240.00 and set an “in-line” rating for the company in a research report on Tuesday, September 24th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $253.54.

Laboratory Co. of America Price Performance

Shares of NYSE:LH opened at $228.63 on Friday. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $239.50. 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 stock has a market cap of $19.20 billion, a PE ratio of 43.30, a price-to-earnings-growth ratio of 1.70 and a beta of 1.05. The stock’s fifty day simple moving average is $222.60 and its two-hundred day simple moving average is $212.39.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share for the quarter, topping the consensus estimate of $3.48 by $0.02. The business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.26 billion. Laboratory Co. of America had a net margin of 3.60% and a return on equity of 15.39%. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the previous year, the company earned $3.38 earnings per share. As a group, analysts forecast that Laboratory Co. of America Holdings will post 14.55 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, November 26th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $2.88 dividend on an annualized basis and a yield of 1.26%. Laboratory Co. of America’s dividend payout ratio (DPR) is currently 54.55%.

Laboratory Co. of America Profile

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.