Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Sector Gamma AS

Sector Gamma AS lessened its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 21.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 50,686 shares of the medical research company’s stock after selling 14,171 shares during the period. Laboratory Co. of America makes up approximately 2.8% of Sector Gamma AS’s investment portfolio, making the stock its 17th largest position. Sector Gamma AS’s holdings in Laboratory Co. of America were worth $11,520,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Lathrop Investment Management Corp raised its stake in shares of Laboratory Co. of America by 3.0% during the 4th quarter. Lathrop Investment Management Corp now owns 66,292 shares of the medical research company’s stock worth $15,068,000 after buying an additional 1,907 shares during the last quarter. White Pine Capital LLC acquired a new position in Laboratory Co. of America in the 4th quarter valued at about $236,000. Alexander Randolph Advisory Inc. acquired a new position in Laboratory Co. of America in the 4th quarter valued at about $942,000. Headlands Technologies LLC acquired a new position in Laboratory Co. of America in the 4th quarter valued at about $80,000. Finally, Bryn Mawr Capital Management LLC raised its stake in Laboratory Co. of America by 50.2% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 966 shares of the medical research company’s stock valued at $220,000 after purchasing an additional 323 shares during the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Laboratory Co. of America Trading Up 0.0 %

Shares of NYSE:LH traded up $0.05 during trading on Friday, reaching $198.40. 931,317 shares of the stock were exchanged, compared to its average volume of 745,511. The firm has a market cap of $16.69 billion, a price-to-earnings ratio of 39.92, a price-to-earnings-growth ratio of 1.49 and a beta of 1.01. Laboratory Co. of America Holdings has a 12-month low of $174.20 and a 12-month high of $234.09. The firm’s 50-day moving average price is $211.70 and its 200 day moving average price is $214.66. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.02 and a current ratio of 0.88.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings results on Thursday, April 25th. The medical research company reported $3.68 earnings per share for the quarter, topping analysts’ consensus estimates of $3.46 by $0.22. The firm had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.12 billion. Laboratory Co. of America had a return on equity of 14.68% and a net margin of 3.52%. Laboratory Co. of America’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.82 EPS. On average, sell-side analysts anticipate that Laboratory Co. of America Holdings will post 14.84 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 28th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Friday, May 24th. Laboratory Co. of America’s dividend payout ratio is presently 57.95%.

Insiders Place Their Bets

In other Laboratory Co. of America news, COO Mark S. Schroeder sold 6,477 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $217.29, for a total value of $1,407,387.33. Following the completion of the transaction, the chief operating officer now owns 5,036 shares in the company, valued at approximately $1,094,272.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Der Vaart Sandra D. Van sold 237 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $226.45, for a total transaction of $53,668.65. Following the completion of the sale, the executive vice president now directly owns 7,637 shares of the company’s stock, valued at approximately $1,729,398.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Mark S. Schroeder sold 6,477 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $217.29, for a total value of $1,407,387.33. Following the sale, the chief operating officer now directly owns 5,036 shares of the company’s stock, valued at $1,094,272.44. The disclosure for this sale can be found here. Insiders sold a total of 54,305 shares of company stock worth $11,761,059 in the last 90 days. 0.85% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Barclays cut their target price on shares of Laboratory Co. of America from $234.00 to $213.00 and set an “equal weight” rating for the company in a research note on Friday. Evercore ISI assumed coverage on shares of Laboratory Co. of America in a research note on Friday, February 9th. They set an “in-line” rating and a $240.00 price objective for the company. TheStreet downgraded shares of Laboratory Co. of America from a “b-” rating to a “c+” rating in a research note on Thursday, February 15th. Truist Financial dropped their price objective on shares of Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating for the company in a research note on Friday. Finally, SVB Leerink assumed coverage on shares of Laboratory Co. of America in a research note on Monday, February 26th. They set an “outperform” rating and a $260.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Laboratory Co. of America presently has an average rating of “Moderate Buy” and a consensus target price of $243.14.

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).