Laboratory Co. of America Holdings (NYSE:LH) Holdings Lowered by Cambiar Investors LLC

Cambiar Investors LLC cut its stake in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 1.6% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 275,642 shares of the medical research company's stock after selling 4,521 shares during the period. Laboratory Co. of America comprises about 2.4% of Cambiar Investors LLC's holdings, making the stock its 4th biggest holding. Cambiar Investors LLC owned 0.33% of Laboratory Co. of America worth $61,600,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of LH. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Laboratory Co. of America during the second quarter worth approximately $27,000. Horizon Bancorp Inc. IN acquired a new stake in shares of Laboratory Co. of America in the third quarter valued at about $29,000. Pathway Financial Advisers LLC acquired a new stake in shares of Laboratory Co. of America in the first quarter valued at about $30,000. Innealta Capital LLC purchased a new position in shares of Laboratory Co. of America in the second quarter worth about $32,000. Finally, Family Firm Inc. purchased a new stake in Laboratory Co. of America during the 2nd quarter valued at about $37,000. Institutional investors and hedge funds own 95.94% of the company's stock.

Laboratory Co. of America Stock Down 0.5 %

Shares of Laboratory Co. of America stock traded down $1.17 on Friday, reaching $227.10. 641,442 shares of the company were exchanged, compared to its average volume of 614,985. The stock's 50 day moving average price is $222.59 and its 200-day moving average price is $213.22. The company has a market cap of $18.99 billion, a P/E ratio of 43.93, a price-to-earnings-growth ratio of 1.88 and a beta of 1.05. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $239.50. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.44 and a quick ratio of 1.30.

Laboratory Co. of America (NYSE:LH - Get Free Report) last issued 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 firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.26 billion. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. The company's revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.38 earnings per share. As a group, equities analysts forecast that Laboratory Co. of America Holdings will post 14.53 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Tuesday, November 26th. Laboratory Co. of America's dividend payout ratio (DPR) is 55.71%.

Insider Buying and Selling

In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 2,000 shares of Laboratory Co. of America stock in a transaction on Monday, August 19th. The shares were sold at an average price of $227.05, for a total value of $454,100.00. Following the transaction, the executive vice president now directly owns 3,670 shares in the company, valued at approximately $833,273.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Glenn A. Eisenberg sold 15,000 shares of Laboratory Co. of America stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $223.99, for a total value of $3,359,850.00. Following the transaction, the chief financial officer now directly owns 31,289 shares in the company, valued at $7,008,423.11. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Der Vaart Sandra D. Van sold 2,000 shares of the company's stock in a transaction on Monday, August 19th. The stock was sold at an average price of $227.05, for a total transaction of $454,100.00. Following the transaction, the executive vice president now owns 3,670 shares of the company's stock, valued at approximately $833,273.50. The trade was a 0.00 % decrease in their position. 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 ninety days. 0.85% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

LH has been the topic of a number of recent research reports. Barclays boosted their price objective 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. Hsbc Global Res raised shares of Laboratory Co. of America from a "hold" rating to a "strong-buy" rating in a report on Wednesday. Bank of America lifted their target price on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the stock a "buy" rating in a research note on Monday, August 5th. HSBC raised shares of Laboratory Co. of America from a "hold" rating to a "buy" rating in a research note on Wednesday. Finally, Truist Financial lifted their price target on shares of Laboratory Co. of America from $255.00 to $275.00 and gave the company a "buy" rating in a research report on Friday, August 2nd. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $255.92.

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.