Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by American International Group Inc.

American International Group Inc. cut its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 5.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 22,262 shares of the medical research company’s stock after selling 1,180 shares during the period. American International Group Inc.’s holdings in Laboratory Co. of America were worth $5,060,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Manchester Capital Management LLC raised its position in Laboratory Co. of America by 1.1% during the fourth quarter. Manchester Capital Management LLC now owns 4,159 shares of the medical research company’s stock worth $945,000 after acquiring an additional 45 shares during the period. Trust Investment Advisors raised its position in Laboratory Co. of America by 1.8% during the fourth quarter. Trust Investment Advisors now owns 2,567 shares of the medical research company’s stock worth $583,000 after acquiring an additional 46 shares during the period. SP Asset Management LLC raised its position in Laboratory Co. of America by 0.3% during the fourth quarter. SP Asset Management LLC now owns 14,992 shares of the medical research company’s stock worth $3,407,000 after acquiring an additional 46 shares during the period. Atria Wealth Solutions Inc. raised its position in Laboratory Co. of America by 2.8% during the fourth quarter. Atria Wealth Solutions Inc. now owns 1,969 shares of the medical research company’s stock worth $448,000 after acquiring an additional 53 shares during the period. Finally, Caprock Group LLC raised its position in Laboratory Co. of America by 1.8% during the fourth quarter. Caprock Group LLC now owns 3,084 shares of the medical research company’s stock worth $701,000 after acquiring an additional 56 shares during the period. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on LH. Robert W. Baird dropped their target price on shares of Laboratory Co. of America from $255.00 to $244.00 and set an “outperform” rating for the company in a report on Friday, April 26th. StockNews.com lowered shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Tuesday, June 4th. Argus raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 target price for the company in a report on Monday, March 25th. JPMorgan Chase & Co. dropped their target price on shares of Laboratory Co. of America from $261.00 to $243.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. Finally, SVB Leerink began coverage on shares of Laboratory Co. of America in a report on Monday, February 26th. They set an “outperform” rating and a $260.00 target price for the company. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Laboratory Co. of America has an average rating of “Moderate Buy” and a consensus price target of $241.86.

Insider Transactions at Laboratory Co. of America

In other news, CMO Amy B. Summy sold 3,500 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $217.29, for a total transaction of $760,515.00. Following the sale, the chief marketing officer now owns 3,975 shares of the company’s stock, valued at $863,727.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CMO Amy B. Summy sold 3,500 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $217.29, for a total transaction of $760,515.00. Following the sale, the chief marketing officer now owns 3,975 shares of the company’s stock, valued at $863,727.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Der Vaart Sandra D. Van sold 3,553 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $216.74, for a total transaction of $770,077.22. Following the completion of the sale, the executive vice president now directly owns 7,637 shares in the company, valued at approximately $1,655,243.38. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,469 shares of company stock valued at $3,959,058. 0.85% of the stock is currently owned by corporate insiders.

Laboratory Co. of America Trading Down 1.0 %

NYSE LH opened at $205.25 on Friday. The firm’s 50-day moving average is $201.83 and its two-hundred day moving average is $213.34. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $234.09. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.88 and a quick ratio of 0.76. The stock has a market capitalization of $17.30 billion, a P/E ratio of 41.30, a PEG ratio of 1.56 and a beta of 1.04.

Laboratory Co. of America (NYSE:LH) last posted its earnings results on Thursday, April 25th. The medical research company reported $3.68 EPS for the quarter, beating analysts’ consensus estimates of $3.48 by $0.20. Laboratory Co. of America had a net margin of 3.52% and a return on equity of 14.68%. The company had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.12 billion. During the same quarter in the prior year, the company posted $3.82 earnings per share. Laboratory Co. of America’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Laboratory Co. of America Holdings will post 14.87 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 28th were given a dividend of $0.72 per share. The ex-dividend date was Friday, May 24th. This represents a $2.88 annualized dividend and a dividend yield of 1.40%. Laboratory Co. of America’s dividend payout ratio is presently 57.95%.

Laboratory Co. of America Profile

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).