Victory Capital Management Inc. Trims Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Victory Capital Management Inc. decreased its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 7.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,353 shares of the medical research company’s stock after selling 4,582 shares during the period. Victory Capital Management Inc. owned about 0.07% of Laboratory Co. of America worth $12,370,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its stake in shares of Laboratory Co. of America by 2.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 114,488 shares of the medical research company’s stock valued at $25,012,000 after buying an additional 2,934 shares during the period. Great Valley Advisor Group Inc. purchased a new position in shares of Laboratory Co. of America during the second quarter valued at $473,000. DekaBank Deutsche Girozentrale increased its stake in shares of Laboratory Co. of America by 13.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 187,286 shares of the medical research company’s stock valued at $40,259,000 after buying an additional 22,759 shares during the period. SG Americas Securities LLC grew its stake in Laboratory Co. of America by 35.4% in the second quarter. SG Americas Securities LLC now owns 31,435 shares of the medical research company’s stock valued at $6,397,000 after purchasing an additional 8,218 shares during the last quarter. Finally, Marietta Wealth Management LLC grew its stake in Laboratory Co. of America by 50.7% in the second quarter. Marietta Wealth Management LLC now owns 19,540 shares of the medical research company’s stock valued at $3,977,000 after purchasing an additional 6,575 shares during the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LH. StockNews.com lowered Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft lifted their target price on Laboratory Co. of America from $220.00 to $230.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. HSBC upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Evercore ISI lowered their price target on Laboratory Co. of America from $250.00 to $240.00 and set an “in-line” rating for the company in a report on Tuesday, September 24th. Finally, Truist Financial raised their price target on Laboratory Co. of America from $255.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $255.92.

Insiders Place Their Bets

In other news, CEO Adam H. Schechter sold 6,189 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $243.47, for a total transaction of $1,506,835.83. Following the completion of the transaction, the chief executive officer now directly owns 87,441 shares in the company, valued at approximately $21,289,260.27. The trade was a 6.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kerrii B. Anderson sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $230.00, for a total value of $230,000.00. Following the completion of the sale, the director now owns 13,722 shares of the company’s stock, valued at $3,156,060. This trade represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by insiders.

Laboratory Co. of America Stock Up 0.7 %

Laboratory Co. of America stock opened at $237.85 on Thursday. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $247.99. The stock has a 50 day moving average of $225.35 and a two-hundred day moving average of $216.49. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $19.89 billion, a price-to-earnings ratio of 46.01, a PEG ratio of 1.93 and a beta of 1.05.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings data on Thursday, October 24th. The medical research company reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.48 by $0.02. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.26 billion. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. Laboratory Co. of America’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period last year, the business posted $3.38 EPS. As a group, research analysts expect that Laboratory Co. of America Holdings will post 14.53 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, November 26th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Tuesday, November 26th. Laboratory Co. of America’s dividend payout ratio is presently 55.71%.

Laboratory Co. of America Company 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.