FORA Capital LLC Sells 11,548 Shares of Laboratory Co. of America Holdings (NYSE:LH)

FORA Capital LLC decreased its stake in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 65.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,060 shares of the medical research company's stock after selling 11,548 shares during the period. FORA Capital LLC's holdings in Laboratory Co. of America were worth $1,354,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. CreativeOne Wealth LLC grew its stake in Laboratory Co. of America by 19.7% during the third quarter. CreativeOne Wealth LLC now owns 1,488 shares of the medical research company's stock worth $332,000 after purchasing an additional 245 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Laboratory Co. of America during the 3rd quarter worth approximately $11,397,000. Blueshift Asset Management LLC acquired a new position in Laboratory Co. of America during the 3rd quarter valued at about $2,558,000. Glenmede Trust Co. NA boosted its stake in Laboratory Co. of America by 1.0% during the 3rd quarter. Glenmede Trust Co. NA now owns 295,354 shares of the medical research company's stock valued at $66,006,000 after purchasing an additional 2,949 shares during the last quarter. Finally, Thematics Asset Management boosted its stake in Laboratory Co. of America by 7.1% during the 3rd quarter. Thematics Asset Management now owns 24,775 shares of the medical research company's stock valued at $5,537,000 after purchasing an additional 1,634 shares during the last quarter. Institutional investors and hedge funds own 95.94% of the company's stock.

Insider Activity at Laboratory Co. of America

In related news, CEO Adam H. Schechter sold 6,189 shares of the company's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $243.47, for a total transaction of $1,506,835.83. Following the sale, the chief executive officer now owns 87,441 shares of the company's stock, valued at approximately $21,289,260.27. This represents a 6.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kerrii B. Anderson sold 1,000 shares of the firm's stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $230.00, for a total transaction of $230,000.00. Following the completion of the transaction, the director now directly owns 13,722 shares of the company's stock, valued at approximately $3,156,060. The trade was a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,861 shares of company stock worth $2,853,533. 0.85% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their price target 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. Barclays lifted their price target on Laboratory Co. of America from $234.00 to $249.00 and gave the company an "equal weight" rating in a research note on Friday, October 25th. Bank of America lifted their price target on Laboratory Co. of America from $240.00 to $260.00 and gave the company a "buy" rating in a research note on Monday, August 5th. Jefferies Financial Group increased their price objective on shares of Laboratory Co. of America from $245.00 to $265.00 and gave the company a "buy" rating in a research note on Monday, September 23rd. Finally, Evercore ISI decreased their price objective on shares of Laboratory Co. of America from $250.00 to $240.00 and set an "in-line" rating for the company in a research note on Tuesday, September 24th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $255.92.

Laboratory Co. of America Stock Performance

Laboratory Co. of America stock traded up $3.42 during midday trading on Thursday, reaching $242.15. The stock had a trading volume of 444,124 shares, compared to its average volume of 670,314. The firm has a market capitalization of $20.25 billion, a PE ratio of 46.84, a P/E/G ratio of 1.99 and a beta of 1.05. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $247.99. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.66. The firm's 50-day moving average price is $226.97 and its 200 day moving average price is $217.78.

Laboratory Co. of America (NYSE:LH - Get Free Report) last announced its quarterly earnings results 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. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. The company had revenue of $3.28 billion for the quarter, compared to analysts' expectations of $3.26 billion. During the same period in the prior year, the company posted $3.38 EPS. Laboratory Co. of America's revenue was up 7.4% compared to the same quarter last year. As a group, research analysts predict 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 business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, November 26th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Tuesday, November 26th. Laboratory Co. of America's dividend payout ratio (DPR) is presently 55.71%.

Laboratory Co. of America 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.