Redwood Investment Management LLC Has $4.57 Million Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

Redwood Investment Management LLC lowered its stake in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 16.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 20,565 shares of the medical research company's stock after selling 4,047 shares during the quarter. Redwood Investment Management LLC's holdings in Laboratory Co. of America were worth $4,570,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Diamond Hill Capital Management Inc. raised its stake in Laboratory Co. of America by 1.5% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,978,686 shares of the medical research company's stock worth $442,197,000 after buying an additional 29,046 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Laboratory Co. of America by 16.4% during 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 buying an additional 263,105 shares during the period. Bank of New York Mellon Corp raised its stake in Laboratory Co. of America by 135.0% during 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 buying an additional 924,881 shares during the period. FMR LLC raised its stake in Laboratory Co. of America by 17.0% during the 3rd quarter. FMR LLC now owns 1,586,397 shares of the medical research company's stock worth $354,528,000 after buying an additional 230,708 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Laboratory Co. of America by 2.4% during 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 buying an additional 33,497 shares during the period. Institutional investors and hedge funds own 95.94% of the company's stock.

Laboratory Co. of America Stock Down 1.0 %

Shares of NYSE LH traded down $2.43 during mid-day trading on Thursday, hitting $234.96. The company had a trading volume of 465,869 shares, compared to its average volume of 664,750. The company has a market capitalization of $19.65 billion, a PE ratio of 45.45, a price-to-earnings-growth ratio of 1.98 and a beta of 1.05. The firm has a 50-day simple moving average of $229.08 and a two-hundred day simple moving average of $218.90. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year high of $247.99.

Laboratory Co. of America (NYSE:LH - Get Free Report) last posted its quarterly 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. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The business had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.26 billion. During the same quarter last year, the company posted $3.38 earnings per share. Laboratory Co. of America's quarterly revenue was up 7.4% on a year-over-year basis. On average, equities analysts expect that Laboratory Co. of America Holdings will post 14.53 EPS for the current year.

Laboratory Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, November 26th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Tuesday, November 26th. Laboratory Co. of America's payout ratio is currently 55.71%.

Insider Buying and Selling

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,189 shares of the firm'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 completion of the sale, the chief executive officer now directly owns 87,441 shares in the company, valued at $21,289,260.27. This trade represents a 6.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Glenn A. Eisenberg sold 11,711 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $240.43, for a total transaction of $2,815,675.73. Following the sale, the executive vice president now owns 31,289 shares of the company's stock, valued at $7,522,814.27. This trade represents a 27.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,572 shares of company stock worth $5,910,209. Company insiders own 0.85% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Jefferies Financial Group raised their price objective on Laboratory Co. of America from $245.00 to $265.00 and gave the stock a "buy" rating in a research note on Monday, September 23rd. StockNews.com downgraded Laboratory Co. of America from a "buy" rating to a "hold" rating in a research note on Friday, October 25th. 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. Hsbc Global Res raised Laboratory Co. of America from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 30th. Finally, Robert W. Baird lifted their price target 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. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $255.92.

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.