Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Bleakley Financial Group LLC

Bleakley Financial Group LLC lessened its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 3.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,609 shares of the medical research company’s stock after selling 62 shares during the quarter. Bleakley Financial Group LLC’s holdings in Laboratory Co. of America were worth $360,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Indiana Trust & Investment Management Co acquired a new position in Laboratory Co. of America in the third quarter worth approximately $136,000. Swedbank AB grew its position in Laboratory Co. of America by 12.0% in the third quarter. Swedbank AB now owns 56,884 shares of the medical research company’s stock worth $12,712,000 after buying an additional 6,089 shares during the last quarter. Washington Capital Management Inc. acquired a new position in Laboratory Co. of America in the third quarter worth approximately $1,117,000. Grove Bank & Trust acquired a new position in Laboratory Co. of America in the third quarter worth approximately $794,000. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its position in Laboratory Co. of America by 5.1% in the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 4,840 shares of the medical research company’s stock worth $1,082,000 after buying an additional 237 shares during the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on LH. Evercore ISI decreased their price target on shares of Laboratory Co. of America from $250.00 to $240.00 and set an “in-line” rating on the stock in a research report on Tuesday, September 24th. Robert W. Baird lifted their price target 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. UBS Group raised their price objective on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Truist Financial raised their price objective on shares of Laboratory Co. of America from $255.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Piper Sandler assumed coverage on shares of Laboratory Co. of America in a research note on Tuesday, October 1st. They issued a “neutral” rating and a $235.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Laboratory Co. of America has an average rating of “Moderate Buy” and an average price target of $251.85.

Insider Activity

In other news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the firm’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 transaction, the executive vice president now owns 3,670 shares in the company, valued at approximately $833,273.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Glenn A. Eisenberg sold 15,000 shares of Laboratory Co. of America stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $223.99, for a total value of $3,359,850.00. Following the transaction, the chief financial officer now owns 31,289 shares in the company, valued at $7,008,423.11. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Der Vaart Sandra D. Van sold 2,000 shares of Laboratory Co. of America stock in a transaction on Monday, August 19th. The stock was sold at an average price of $227.05, for a total transaction of $454,100.00. Following the completion of the transaction, the executive vice president now owns 3,670 shares in the company, valued at $833,273.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,679 shares of company stock worth $6,716,306. 0.85% of the stock is owned by corporate insiders.

Laboratory Co. of America Trading Up 3.0 %

Shares of NYSE:LH opened at $220.51 on Wednesday. The firm has a fifty day moving average of $222.50 and a two-hundred day moving average of $212.08. The firm has a market capitalization of $18.59 billion, a P/E ratio of 44.37, a price-to-earnings-growth ratio of 1.67 and a beta of 1.05. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $238.46. 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 released its quarterly earnings results on Thursday, August 1st. The medical research company reported $3.94 earnings per share for the quarter, beating analysts’ consensus estimates of $3.78 by $0.16. The business had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.19 billion. Laboratory Co. of America had a net margin of 3.60% and a return on equity of 15.39%. Laboratory Co. of America’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter last year, the firm earned $3.42 EPS. On average, equities analysts expect that Laboratory Co. of America Holdings will post 14.56 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, November 26th will be issued a dividend of $0.72 per share. The ex-dividend date is Tuesday, November 26th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.31%. Laboratory Co. of America’s dividend payout ratio is currently 57.95%.

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.