AMI Asset Management Corp Sells 4,818 Shares of Laboratory Co. of America Holdings (NYSE:LH)

AMI Asset Management Corp decreased its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 2.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 209,179 shares of the medical research company's stock after selling 4,818 shares during the quarter. Laboratory Co. of America comprises approximately 2.5% of AMI Asset Management Corp's holdings, making the stock its 16th largest position. AMI Asset Management Corp owned about 0.25% of Laboratory Co. of America worth $46,747,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its holdings in shares of Laboratory Co. of America by 2.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 114,488 shares of the medical research company's stock worth $25,012,000 after purchasing an additional 2,934 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Laboratory Co. of America by 17.0% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 101,019 shares of the medical research company's stock valued at $22,069,000 after acquiring an additional 14,708 shares during the period. SG Americas Securities LLC raised its holdings in Laboratory Co. of America by 283.1% in the 1st quarter. SG Americas Securities LLC now owns 23,217 shares of the medical research company's stock valued at $5,072,000 after acquiring an additional 17,156 shares in the last quarter. Duality Advisers LP lifted its position in shares of Laboratory Co. of America by 141.3% in the 1st quarter. Duality Advisers LP now owns 29,580 shares of the medical research company's stock worth $6,462,000 after acquiring an additional 17,323 shares during the period. Finally, Great Valley Advisor Group Inc. bought a new stake in shares of Laboratory Co. of America in the 2nd quarter worth approximately $473,000. Institutional investors and hedge funds own 95.94% of the company's stock.

Insider Transactions at Laboratory Co. of America

In other news, Director Kerrii B. Anderson sold 1,000 shares of the firm's stock in a transaction dated Thursday, October 24th. The shares were 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Kerrii B. Anderson sold 1,000 shares of the 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 $3,156,060. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Glenn A. Eisenberg sold 15,000 shares of the firm's stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $223.99, for a total value of $3,359,850.00. Following the completion of the transaction, the chief financial officer now owns 31,289 shares in the company, valued at $7,008,423.11. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,679 shares of company stock worth $6,946,306 over the last 90 days. 0.85% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on LH shares. Robert W. Baird upped 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. HSBC raised shares of Laboratory Co. of America from a "hold" rating to a "buy" rating in a report on Wednesday. Piper Sandler raised their price objective on shares of Laboratory Co. of America from $235.00 to $240.00 and gave the stock a "neutral" rating in a report on Monday. Deutsche Bank Aktiengesellschaft increased their price target on shares of 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. Finally, StockNews.com cut shares of Laboratory Co. of America from a "buy" rating to a "hold" rating in a research note on Friday, October 25th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $253.92.

Laboratory Co. of America Price Performance

NYSE LH traded up $2.47 on Wednesday, hitting $230.56. 643,835 shares of the company were exchanged, compared to its average volume of 669,000. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $239.50. The firm has a 50 day moving average of $222.71 and a two-hundred day moving average of $212.87. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66. The company has a market cap of $19.36 billion, a P/E ratio of 44.60, a P/E/G ratio of 1.77 and a beta of 1.05.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.48 by $0.02. The company 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%. Laboratory Co. of America's quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the business earned $3.38 earnings per share. On average, equities analysts predict that Laboratory Co. of America Holdings will post 14.53 EPS for the current year.

Laboratory Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, November 26th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $2.88 annualized dividend and a dividend yield of 1.25%. Laboratory Co. of America's dividend payout ratio (DPR) is currently 55.71%.

Laboratory Co. of America Company 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.