Cary Street Partners Investment Advisory LLC Trims Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

Cary Street Partners Investment Advisory LLC lessened its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 13.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,931 shares of the medical research company’s stock after selling 2,109 shares during the period. Cary Street Partners Investment Advisory LLC’s holdings in Laboratory Co. of America were worth $3,166,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of LH. Trust Investment Advisors boosted its position in shares of Laboratory Co. of America by 1.8% during the 4th quarter. Trust Investment Advisors now owns 2,567 shares of the medical research company’s stock valued at $583,000 after acquiring an additional 46 shares during the last quarter. Atria Wealth Solutions Inc. lifted its position in Laboratory Co. of America by 2.8% during the fourth quarter. Atria Wealth Solutions Inc. now owns 1,969 shares of the medical research company’s stock valued at $448,000 after purchasing an additional 53 shares during the last quarter. Caprock Group LLC grew its stake in Laboratory Co. of America by 1.8% in the 4th quarter. Caprock Group LLC now owns 3,084 shares of the medical research company’s stock worth $701,000 after buying an additional 56 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of Laboratory Co. of America by 22.1% in the 3rd quarter. UMB Bank n.a. now owns 315 shares of the medical research company’s stock worth $63,000 after buying an additional 57 shares during the last quarter. Finally, Arjuna Capital raised its position in shares of Laboratory Co. of America by 3.2% during the 3rd quarter. Arjuna Capital now owns 1,819 shares of the medical research company’s stock valued at $366,000 after buying an additional 57 shares in the last quarter. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Laboratory Co. of America Trading Down 0.4 %

Shares of NYSE:LH traded down $0.76 on Tuesday, hitting $203.41. The company had a trading volume of 248,494 shares, compared to its average volume of 759,849. Laboratory Co. of America Holdings has a 1 year low of $174.20 and a 1 year high of $234.09. The company has a quick ratio of 0.76, a current ratio of 0.88 and a debt-to-equity ratio of 0.39. The firm’s 50-day simple moving average is $211.45 and its two-hundred day simple moving average is $214.90. The firm has a market capitalization of $17.11 billion, a price-to-earnings ratio of 41.08, a P/E/G ratio of 1.49 and a beta of 1.01.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings data on Thursday, April 25th. The medical research company reported $3.68 earnings per share for the quarter, beating the consensus estimate of $3.48 by $0.20. The business had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.12 billion. Laboratory Co. of America had a return on equity of 14.68% and a net margin of 3.52%. The business’s revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.82 EPS. Equities analysts anticipate that Laboratory Co. of America Holdings will post 14.85 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 28th will be paid a $0.72 dividend. The ex-dividend date is Tuesday, May 28th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.42%. Laboratory Co. of America’s dividend payout ratio is currently 57.95%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. TheStreet cut Laboratory Co. of America from a “b-” rating to a “c+” rating in a research note on Thursday, February 15th. SVB Leerink assumed coverage on Laboratory Co. of America in a research report on Monday, February 26th. They set an “outperform” rating and a $260.00 price objective on the stock. Argus raised Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 price objective on the stock in a report on Monday, March 25th. Barclays cut their target price on Laboratory Co. of America from $234.00 to $213.00 and set an “equal weight” rating for the company in a research note on Friday. Finally, Robert W. Baird decreased their price target on shares of Laboratory Co. of America from $255.00 to $244.00 and set an “outperform” rating on the stock in a research note on Friday. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.14.

Insider Activity

In other news, EVP Der Vaart Sandra D. Van sold 259 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $222.06, for a total value of $57,513.54. Following the transaction, the executive vice president now owns 7,637 shares in the company, valued at $1,695,872.22. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Der Vaart Sandra D. Van sold 259 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $222.06, for a total transaction of $57,513.54. Following the transaction, the executive vice president now directly owns 7,637 shares of the company’s stock, valued at $1,695,872.22. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO Amy B. Summy sold 227 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $218.45, for a total value of $49,588.15. Following the completion of the transaction, the chief marketing officer now directly owns 3,859 shares of the company’s stock, valued at approximately $842,998.55. The disclosure for this sale can be found here. Insiders sold 54,305 shares of company stock worth $11,761,059 over the last three months. 0.85% of the stock is currently owned by corporate insiders.

About Laboratory Co. of America

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).