Acadian Asset Management LLC Reduces Position in Laboratory Co. of America Holdings (NYSE:LH)

Acadian Asset Management LLC reduced its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 80.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 394 shares of the medical research company’s stock after selling 1,646 shares during the period. Acadian Asset Management LLC’s holdings in Laboratory Co. of America were worth $80,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in LH. Unison Advisors LLC lifted its position in shares of Laboratory Co. of America by 0.5% during the first quarter. Unison Advisors LLC now owns 11,053 shares of the medical research company’s stock worth $2,415,000 after purchasing an additional 51 shares in the last quarter. Connecticut Wealth Management LLC raised its stake in shares of Laboratory Co. of America by 1.8% during the 1st quarter. Connecticut Wealth Management LLC now owns 2,973 shares of the medical research company’s stock worth $649,000 after buying an additional 52 shares during the last quarter. Pure Financial Advisors LLC raised its stake in shares of Laboratory Co. of America by 5.1% during the 2nd quarter. Pure Financial Advisors LLC now owns 1,089 shares of the medical research company’s stock worth $222,000 after buying an additional 53 shares during the last quarter. Wahed Invest LLC raised its stake in Laboratory Co. of America by 3.9% in the 4th quarter. Wahed Invest LLC now owns 1,443 shares of the medical research company’s stock valued at $328,000 after purchasing an additional 54 shares during the last quarter. Finally, Meridian Financial Partners LLC grew its holdings in Laboratory Co. of America by 1.1% in the 1st quarter. Meridian Financial Partners LLC now owns 5,049 shares of the medical research company’s stock valued at $1,020,000 after buying an additional 56 shares during the period. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Laboratory Co. of America Trading Down 1.1 %

Shares of LH opened at $222.22 on Friday. The business has a 50-day moving average of $222.74 and a 200 day moving average of $211.54. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $238.46. The firm has a market cap of $18.73 billion, a P/E ratio of 44.71, a price-to-earnings-growth ratio of 1.68 and a beta of 1.06. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.77 and a current ratio of 0.88.

Laboratory Co. of America (NYSE:LH) last issued its earnings results on Thursday, August 1st. The medical research company reported $3.94 EPS for the quarter, topping the consensus estimate of $3.78 by $0.16. Laboratory Co. of America had a return on equity of 15.39% and a net margin of 3.60%. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same quarter last year, the company earned $3.42 EPS. The firm’s revenue was up 6.2% compared to the same quarter last year. As a group, research analysts forecast that Laboratory Co. of America Holdings will post 14.67 EPS for the current year.

Laboratory Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 29th were paid a $0.72 dividend. The ex-dividend date was Thursday, August 29th. This represents a $2.88 annualized dividend and a yield of 1.30%. Laboratory Co. of America’s dividend payout ratio is currently 57.95%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. decreased their price target on 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. Bank of America increased their price target on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. StockNews.com raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Truist Financial raised their price objective on Laboratory Co. of America from $255.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Robert W. Baird lifted their price target on Laboratory Co. of America from $278.00 to $282.00 and gave the company an “outperform” rating in a report on Friday. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $251.27.

Insider Activity

In other news, EVP Der Vaart Sandra D. Van sold 2,000 shares of Laboratory Co. of America stock in a transaction dated 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 sale, the executive vice president now owns 3,670 shares in the company, valued at approximately $833,273.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Lance Berberian sold 12,093 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $229.10, for a total transaction of $2,770,506.30. Following the transaction, the executive vice president now directly owns 15,921 shares of the company’s stock, valued at approximately $3,647,501.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Der Vaart Sandra D. Van sold 2,000 shares of Laboratory Co. of America stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $227.05, for a total value of $454,100.00. Following the completion of the transaction, the executive vice president now directly owns 3,670 shares in the company, valued at $833,273.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,679 shares of company stock worth $6,716,306. 0.85% of the stock is currently owned by insiders.

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).