Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC lowered its position in Laboratory Co. of America Holdings (NYSE:LH) by 40.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,497 shares of the medical research company’s stock after selling 3,673 shares during the quarter. Park Avenue Securities LLC’s holdings in Laboratory Co. of America were worth $1,201,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. American National Bank lifted its holdings in Laboratory Co. of America by 38.9% in the 1st quarter. American National Bank now owns 45,561 shares of the medical research company’s stock worth $9,953,000 after buying an additional 12,754 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services acquired a new position in Laboratory Co. of America in the 1st quarter worth $1,418,000. Czech National Bank lifted its holdings in Laboratory Co. of America by 0.5% in the 1st quarter. Czech National Bank now owns 14,938 shares of the medical research company’s stock worth $3,263,000 after buying an additional 68 shares in the last quarter. Mather Group LLC. acquired a new position in Laboratory Co. of America in the 1st quarter worth $142,000. Finally, Compass Wealth Management LLC raised its stake in shares of Laboratory Co. of America by 5.1% in the 1st quarter. Compass Wealth Management LLC now owns 1,379 shares of the medical research company’s stock valued at $301,000 after purchasing an additional 67 shares in the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Laboratory Co. of America Price Performance

Shares of NYSE:LH opened at $208.00 on Tuesday. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $234.09. The company has a quick ratio of 0.76, a current ratio of 0.88 and a debt-to-equity ratio of 0.39. The company has a market cap of $17.53 billion, a PE ratio of 41.85, a P/E/G ratio of 1.54 and a beta of 1.05. The firm has a 50-day simple moving average of $201.92 and a 200 day simple moving average of $213.24.

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, topping the consensus estimate 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 firm had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same quarter in the prior year, the firm earned $3.82 EPS. Laboratory Co. of America’s quarterly revenue was up 4.6% on a year-over-year basis. On average, sell-side analysts anticipate that Laboratory Co. of America Holdings will post 14.87 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 28th were given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.38%. The ex-dividend date was Friday, May 24th. Laboratory Co. of America’s dividend payout ratio (DPR) is 57.95%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LH. JPMorgan Chase & Co. cut their target price on shares of Laboratory Co. of America from $261.00 to $243.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. SVB Leerink began coverage on shares of Laboratory Co. of America in a research note on Monday, February 26th. They issued an “outperform” rating and a $260.00 target price on the stock. Truist Financial cut their target price on shares of Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. StockNews.com lowered shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Tuesday, June 4th. Finally, Argus upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 target price on the stock in a research note on Monday, March 25th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $241.86.

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 dated Monday, April 1st. The shares were 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 legal filing with the SEC, which is available through the SEC website. In other news, Director Kerrii B. Anderson sold 250 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $200.10, for a total value of $50,025.00. Following the completion of the transaction, the director now directly owns 15,722 shares in the company, valued at $3,145,972.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Mark S. Schroeder sold 6,477 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $217.29, for a total transaction of $1,407,387.33. Following the completion of the transaction, the chief operating officer now owns 5,036 shares of the company’s stock, valued at $1,094,272.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,469 shares of company stock worth $3,959,058. Insiders own 0.85% of the company’s stock.

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).