Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by American National Bank & Trust

American National Bank & Trust reduced its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 1.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,293 shares of the medical research company’s stock after selling 768 shares during the period. Laboratory Co. of America makes up about 1.2% of American National Bank & Trust’s investment portfolio, making the stock its 25th largest position. American National Bank & Trust’s holdings in Laboratory Co. of America were worth $10,569,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Industrial Alliance Investment Management Inc. acquired a new position in shares of Laboratory Co. of America in the 2nd quarter worth $27,000. Pathway Financial Advisers LLC acquired a new position in shares of Laboratory Co. of America in the 1st quarter valued at $30,000. Innealta Capital LLC acquired a new position in shares of Laboratory Co. of America in the 2nd quarter valued at $32,000. Family Firm Inc. acquired a new stake in Laboratory Co. of America during the 2nd quarter worth about $37,000. Finally, McClarren Financial Advisors Inc. raised its holdings in Laboratory Co. of America by 313.2% during the 1st quarter. McClarren Financial Advisors Inc. now owns 219 shares of the medical research company’s stock worth $48,000 after buying an additional 166 shares during the period. 95.94% of the stock is currently owned by institutional investors.

Laboratory Co. of America Price Performance

NYSE LH opened at $219.00 on Thursday. The company has a 50 day moving average price of $224.17 and a two-hundred day moving average price of $211.85. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $238.46. The stock has a market capitalization of $18.46 billion, a PE ratio of 44.06, a price-to-earnings-growth ratio of 1.74 and a beta of 1.06. 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 (NYSE:LH) last issued its quarterly earnings data on Thursday, August 1st. The medical research company reported $3.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.78 by $0.16. Laboratory Co. of America had a net margin of 3.60% and a return on equity of 15.39%. The firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.19 billion. During the same period in the prior year, the company posted $3.42 earnings per share. Laboratory Co. of America’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, equities analysts predict that Laboratory Co. of America Holdings will post 14.61 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The business also recently disclosed 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 dividend yield of 1.32%. The ex-dividend date of this dividend was Thursday, August 29th. Laboratory Co. of America’s payout ratio is 57.95%.

Insider Buying and Selling

In related news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $227.05, for a total transaction of $454,100.00. Following the completion of the sale, the executive vice president now directly owns 3,670 shares of the company’s stock, valued at approximately $833,273.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Glenn A. Eisenberg sold 15,000 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $7,008,423.11. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Der Vaart Sandra D. Van sold 2,000 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were 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 of the company’s stock, valued at $833,273.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,679 shares of company stock worth $6,716,306. 0.85% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

LH has been the topic of several analyst reports. Robert W. Baird lifted their target price on shares of Laboratory Co. of America from $278.00 to $282.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Piper Sandler assumed coverage on shares of Laboratory Co. of America in a research report on Tuesday. They set a “neutral” rating and a $235.00 price objective on the stock. UBS Group increased their target price on Laboratory Co. of America from $260.00 to $270.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Bank of America lifted their price target on Laboratory Co. of America from $240.00 to $260.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, Barclays increased their price objective on Laboratory Co. of America from $213.00 to $249.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $253.00.

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).