Hahn Capital Management LLC trimmed its stake in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 33.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,225 shares of the medical research company's stock after selling 13,319 shares during the period. Laboratory Co. of America makes up about 3.8% of Hahn Capital Management LLC's portfolio, making the stock its 16th biggest position. Hahn Capital Management LLC's holdings in Laboratory Co. of America were worth $5,861,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. Diamond Hill Capital Management Inc. grew its stake 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 buying an additional 395,197 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Laboratory Co. of America by 16.4% in the 3rd 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 period. Bank of New York Mellon Corp raised its holdings in Laboratory Co. of America by 135.0% in the 2nd 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 during the period. Dimensional Fund Advisors LP raised its holdings in Laboratory Co. of America by 2.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,417,645 shares of the medical research company's stock worth $288,519,000 after purchasing an additional 33,497 shares during the period. Finally, Cooke & Bieler LP raised its holdings in Laboratory Co. of America by 26.8% in the 2nd quarter. Cooke & Bieler LP now owns 928,250 shares of the medical research company's stock worth $188,908,000 after purchasing an additional 196,119 shares during the period. 95.94% of the stock is owned by institutional investors.
Laboratory Co. of America Stock Down 0.6 %
NYSE LH traded down $1.44 during trading on Friday, reaching $228.63. 819,191 shares of the company's stock were exchanged, compared to its average volume of 668,948. The stock has a market cap of $19.20 billion, a P/E ratio of 43.11, a price-to-earnings-growth ratio of 1.70 and a beta of 1.05. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.77 and a current ratio of 0.88. The company has a 50 day moving average price of $222.58 and a two-hundred day moving average price of $212.26. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $239.50.
Laboratory Co. of America (NYSE:LH - Get Free Report) last posted its earnings results on Thursday, October 24th. The medical research company reported $3.50 EPS for the quarter, topping analysts' consensus estimates of $3.48 by $0.02. The business had revenue of $3.28 billion for the quarter, compared to analysts' expectations of $3.26 billion. Laboratory Co. of America had a return on equity of 15.39% and a net margin of 3.60%. The business's revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.38 earnings per share. On average, equities research analysts anticipate that Laboratory Co. of America Holdings will post 14.55 EPS for the current fiscal year.
Laboratory Co. of America Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, November 26th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend is Tuesday, November 26th. Laboratory Co. of America's dividend payout ratio (DPR) is presently 54.55%.
Insider Activity at Laboratory Co. of America
In other Laboratory Co. of America news, EVP Lance Berberian sold 12,093 shares of Laboratory Co. of America stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $229.10, for a total value of $2,770,506.30. Following the sale, the executive vice president now owns 15,921 shares of the company's stock, valued at approximately $3,647,501.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Laboratory Co. of America news, EVP Lance Berberian sold 12,093 shares of the business's stock in a transaction on Monday, August 5th. The stock was sold at an average price of $229.10, for a total value of $2,770,506.30. Following the completion of the transaction, the executive vice president now directly owns 15,921 shares in the company, valued at approximately $3,647,501.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kerrii B. Anderson sold 586 shares of Laboratory Co. of America stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $225.00, for a total transaction of $131,850.00. Following the transaction, the director now directly owns 14,722 shares in the company, valued at approximately $3,312,450. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,679 shares of company stock worth $6,946,306 in the last quarter. Company insiders own 0.85% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on LH shares. StockNews.com raised Laboratory Co. of America from a "hold" rating to a "buy" rating in a report on Thursday, October 17th. Truist Financial boosted their price objective on Laboratory Co. of America from $255.00 to $275.00 and gave the stock a "buy" rating in a research note on Friday, August 2nd. Robert W. Baird increased their target price on Laboratory Co. of America from $282.00 to $289.00 and gave the company an "outperform" rating in a report on Friday. Jefferies Financial Group increased their target price on Laboratory Co. of America from $245.00 to $265.00 and gave the company a "buy" rating in a report on Monday, September 23rd. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Laboratory Co. of America from $220.00 to $230.00 and gave the company a "hold" rating in a report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, Laboratory Co. of America currently has a consensus rating of "Moderate Buy" and a consensus target price of $253.54.
Read Our Latest Stock Report on Laboratory Co. of America
Laboratory Co. of America Company Profile
(
Free Report)
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.
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