Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Hotchkis & Wiley Capital Management LLC

Hotchkis & Wiley Capital Management LLC lowered its stake in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 1.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 392,880 shares of the medical research company's stock after selling 3,892 shares during the period. Hotchkis & Wiley Capital Management LLC owned 0.47% of Laboratory Co. of America worth $87,801,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Industrial Alliance Investment Management Inc. purchased a new position in shares of Laboratory Co. of America in the second quarter valued at $27,000. SouthState Corp bought a new position in Laboratory Co. of America in the third quarter worth about $28,000. Horizon Bancorp Inc. IN bought a new position in Laboratory Co. of America in the third quarter worth about $29,000. Innealta Capital LLC purchased a new stake in shares of Laboratory Co. of America during the second quarter worth about $32,000. Finally, Family Firm Inc. purchased a new stake in Laboratory Co. of America in the second quarter valued at approximately $37,000. Institutional investors own 95.94% of the company's stock.

Laboratory Co. of America Trading Down 0.0 %

Shares of NYSE LH traded down $0.06 during mid-day trading on Tuesday, reaching $240.57. 482,449 shares of the company's stock were exchanged, compared to its average volume of 666,830. The firm has a market capitalization of $20.12 billion, a price-to-earnings ratio of 46.56, a PEG ratio of 1.98 and a beta of 1.05. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.44. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $247.99. The company's 50-day moving average is $228.01 and its 200-day moving average is $218.44.

Laboratory Co. of America (NYSE:LH - Get Free Report) last announced its 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 return on equity of 15.27% and a net margin of 3.43%. The company had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.26 billion. During the same period last year, the business posted $3.38 EPS. Laboratory Co. of America's revenue for the quarter was up 7.4% on a year-over-year basis. Analysts expect that Laboratory Co. of America Holdings will post 14.53 EPS 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. Shareholders of record on Tuesday, November 26th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date is Tuesday, November 26th. Laboratory Co. of America's dividend payout ratio is currently 55.71%.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, CMO Amy B. Summy sold 3,672 shares of Laboratory Co. of America stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $238.91, for a total value of $877,277.52. Following the transaction, the chief marketing officer now directly owns 4,318 shares in the company, valued at approximately $1,031,613.38. This trade represents a 45.96 % 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 Laboratory Co. of America stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $230.00, for a total value of $230,000.00. Following the completion of the transaction, the director now owns 13,722 shares in the company, valued at $3,156,060. This trade represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,861 shares of company stock valued at $2,853,533 in the last quarter. Corporate insiders own 0.85% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Bank of America upped their price objective on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a "buy" rating in a research report on Monday, August 5th. Robert W. Baird upped their price objective on Laboratory Co. of America from $282.00 to $289.00 and gave the stock an "outperform" rating in a research report on Friday, October 25th. HSBC upgraded Laboratory Co. of America from a "hold" rating to a "buy" rating in a research report on Wednesday, October 30th. Piper Sandler upped their target price on Laboratory Co. of America from $235.00 to $240.00 and gave the stock a "neutral" rating in a research note on Monday, October 28th. Finally, Barclays upped their target price on Laboratory Co. of America from $234.00 to $249.00 and gave the stock an "equal weight" rating in a research note on Friday, October 25th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Laboratory Co. of America currently has an average rating of "Moderate Buy" and a consensus target price of $255.92.

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.