Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado lessened its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 6.6% in the second quarter, according to its most recent filing with the SEC. The firm owned 8,230 shares of the medical research company’s stock after selling 578 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Laboratory Co. of America were worth $1,675,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Industrial Alliance Investment Management Inc. bought a new position in Laboratory Co. of America in the 2nd quarter valued at about $27,000. Pathway Financial Advisers LLC bought a new position in shares of Laboratory Co. of America in the first quarter valued at approximately $30,000. Innealta Capital LLC acquired a new position in shares of Laboratory Co. of America during the second quarter valued at approximately $32,000. Family Firm Inc. bought a new stake in Laboratory Co. of America during the second quarter worth approximately $37,000. Finally, McClarren Financial Advisors Inc. lifted its position in Laboratory Co. of America by 313.2% in the first quarter. McClarren Financial Advisors Inc. now owns 219 shares of the medical research company’s stock worth $48,000 after purchasing an additional 166 shares during the period. Institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Stock Performance

NYSE:LH opened at $224.75 on Tuesday. The firm has a market capitalization of $18.95 billion, a PE ratio of 45.22, a PEG ratio of 1.68 and a beta of 1.06. The company has a current ratio of 0.88, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $238.46. The firm’s fifty day simple moving average is $223.09 and its 200 day simple moving average is $211.54.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings data on Thursday, August 1st. The medical research company reported $3.94 EPS for the quarter, topping analysts’ consensus estimates of $3.78 by $0.16. The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.19 billion. Laboratory Co. of America had a return on equity of 15.39% and a net margin of 3.60%. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the company posted $3.42 earnings per share. On average, sell-side analysts anticipate that Laboratory Co. of America Holdings will post 14.67 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 29th were paid a $0.72 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $2.88 annualized dividend and a dividend yield of 1.28%. Laboratory Co. of America’s payout ratio is 57.95%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LH. 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 research report on Friday. Truist Financial boosted their price target on shares of 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. StockNews.com upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. Evercore ISI boosted their target price on shares of Laboratory Co. of America from $210.00 to $215.00 and gave the stock an “in-line” rating in a report on Tuesday, July 9th. Finally, Jefferies Financial Group raised their target price on shares of Laboratory Co. of America from $245.00 to $265.00 and gave the stock a “buy” rating in a report on Monday. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $252.42.

Insider Buying and Selling

In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 15,000 shares of the firm’s 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 sale, the chief financial officer now directly owns 31,289 shares in the company, valued at approximately $7,008,423.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Glenn A. Eisenberg sold 15,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $223.99, for a total value of $3,359,850.00. Following the completion of the transaction, the chief financial officer now directly owns 31,289 shares of the company’s stock, valued at $7,008,423.11. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Der Vaart Sandra D. Van sold 2,000 shares of the business’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 completion of the sale, the executive vice president now directly owns 3,670 shares in the company, valued at approximately $833,273.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,679 shares of company stock valued at $6,716,306. 0.85% of the stock is owned by company insiders.

Laboratory Co. of America Company 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).