Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. lowered its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 2.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,598 shares of the medical research company’s stock after selling 800 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Laboratory Co. of America were worth $7,285,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Diamond Hill Capital Management Inc. grew its holdings in Laboratory Co. of America by 25.4% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,949,640 shares of the medical research company’s stock worth $396,771,000 after acquiring an additional 395,197 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Laboratory Co. of America by 16.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,865,460 shares of the medical research company’s stock worth $416,893,000 after purchasing an additional 263,105 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Laboratory Co. of America by 135.0% in the second quarter. Bank of New York Mellon Corp now owns 1,609,826 shares of the medical research company’s stock worth $327,616,000 after purchasing an additional 924,881 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Laboratory Co. of America by 2.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,417,645 shares of the medical research company’s stock valued at $288,519,000 after buying an additional 33,497 shares during the last quarter. Finally, Cooke & Bieler LP raised its stake in Laboratory Co. of America by 26.8% during the second quarter. Cooke & Bieler LP now owns 928,250 shares of the medical research company’s stock valued at $188,908,000 after buying an additional 196,119 shares in the last quarter. Institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Stock Performance

Shares of LH opened at $229.11 on Wednesday. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $239.50. The firm has a market capitalization of $19.16 billion, a PE ratio of 44.32, a P/E/G ratio of 1.87 and a beta of 1.05. The firm has a 50-day moving average price of $222.51 and a 200 day moving average price of $213.71. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.66.

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

Laboratory Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, November 26th will be paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $2.88 annualized dividend and a yield of 1.26%. Laboratory Co. of America’s dividend payout ratio is currently 55.71%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on LH shares. 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. StockNews.com downgraded shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Truist Financial boosted their price objective on shares of Laboratory Co. of America from $255.00 to $275.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Robert W. Baird lifted their target price on Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Laboratory Co. of America from $220.00 to $230.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $255.92.

Insider Buying and Selling

In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 1,000 shares of the company’s stock in a transaction 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 transaction, the director now owns 13,722 shares of the company’s stock, valued at approximately $3,156,060. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related 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 value of $454,100.00. Following the transaction, the executive vice president now owns 3,670 shares of the company’s stock, valued at approximately $833,273.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kerrii B. Anderson sold 1,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $230.00, for a total transaction of $230,000.00. Following the sale, the director now directly owns 13,722 shares of the company’s stock, valued at $3,156,060. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,586 shares of company stock valued at $4,175,800 over the last three months. Company insiders own 0.85% of the company’s stock.

About Laboratory Co. of America

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.