Amalgamated Bank Sells 638 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Amalgamated Bank lessened its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 3.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,501 shares of the medical research company’s stock after selling 638 shares during the quarter. Amalgamated Bank’s holdings in Laboratory Co. of America were worth $3,688,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Insight Inv LLC boosted its holdings in shares of Laboratory Co. of America by 1.3% during the 2nd quarter. Insight Inv LLC now owns 3,530 shares of the medical research company’s stock valued at $718,000 after purchasing an additional 45 shares during the last quarter. Athena Investment Management boosted its stake in Laboratory Co. of America by 4.8% during the second quarter. Athena Investment Management now owns 1,040 shares of the medical research company’s stock valued at $212,000 after buying an additional 48 shares during the last quarter. Concord Wealth Partners grew its holdings in Laboratory Co. of America by 43.3% during the 3rd quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock valued at $38,000 after buying an additional 52 shares in the last quarter. Pure Financial Advisors LLC increased its stake in Laboratory Co. of America by 5.1% in the 2nd quarter. Pure Financial Advisors LLC now owns 1,089 shares of the medical research company’s stock worth $222,000 after acquiring an additional 53 shares during the last quarter. Finally, SP Asset Management LLC raised its holdings in shares of Laboratory Co. of America by 0.4% during the 2nd quarter. SP Asset Management LLC now owns 15,096 shares of the medical research company’s stock worth $3,072,000 after acquiring an additional 56 shares in the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Laboratory Co. of America Stock Performance

LH stock opened at $242.39 on Friday. The firm has a market cap of $20.27 billion, a price-to-earnings ratio of 46.88, a PEG ratio of 1.93 and a beta of 1.05. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $243.78. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.66. The business’s fifty day simple moving average is $223.02 and its two-hundred day simple moving average is $214.30.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings data on Thursday, October 24th. The medical research company reported $3.50 earnings per share for the quarter, beating analysts’ consensus estimates of $3.48 by $0.02. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.26 billion. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the business posted $3.38 EPS. Analysts predict that Laboratory Co. of America Holdings will post 14.53 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, November 26th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $2.88 annualized dividend and a yield of 1.19%. Laboratory Co. of America’s dividend payout ratio (DPR) is currently 55.71%.

Analyst Upgrades and Downgrades

LH has been the subject of a number of recent research reports. Piper Sandler raised their target price on shares of Laboratory Co. of America from $235.00 to $240.00 and gave the company a “neutral” rating in a report on Monday, October 28th. UBS Group boosted their target price on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Bank of America increased their price target on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the company a “buy” rating in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft upped their price objective 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. Finally, StockNews.com cut Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.92.

Insiders Place Their Bets

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 on Monday, August 19th. The stock was sold at an average price of $227.05, for a total value of $454,100.00. Following the completion of the sale, the executive vice president now directly owns 3,670 shares in the company, valued at approximately $833,273.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Glenn A. Eisenberg sold 15,000 shares of Laboratory Co. of America stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $223.99, for a total transaction of $3,359,850.00. Following the transaction, the chief financial officer now directly owns 31,289 shares of the company’s stock, valued at $7,008,423.11. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Der Vaart Sandra D. Van sold 2,000 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $227.05, for a total value of $454,100.00. Following the sale, the executive vice president now owns 3,670 shares of the company’s stock, valued at approximately $833,273.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,000 shares of company stock worth $4,043,950 in the last ninety days. 0.85% of the stock is owned by company insiders.

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.