Rockefeller Capital Management L.P. Has $3 Million Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Rockefeller Capital Management L.P. decreased its stake in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 35.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,437 shares of the medical research company's stock after selling 7,306 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in Laboratory Co. of America were worth $3,003,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of LH. SouthState Corp acquired a new stake in shares of Laboratory Co. of America during the third quarter worth approximately $28,000. Horizon Bancorp Inc. IN acquired a new stake in Laboratory Co. of America during the 3rd quarter valued at $29,000. Industrial Alliance Investment Management Inc. bought a new position in Laboratory Co. of America in the 2nd quarter valued at $27,000. Innealta Capital LLC acquired a new position in Laboratory Co. of America in the second quarter worth $32,000. Finally, Riverview Trust Co grew its holdings in shares of Laboratory Co. of America by 172.6% during the third quarter. Riverview Trust Co now owns 169 shares of the medical research company's stock worth $38,000 after purchasing an additional 107 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors.

Laboratory Co. of America Trading Down 1.0 %

Shares of Laboratory Co. of America stock traded down $2.43 during trading on Friday, hitting $232.47. 392,189 shares of the company were exchanged, compared to its average volume of 663,595. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.44 and a quick ratio of 1.30. The firm has a market capitalization of $19.44 billion, a P/E ratio of 44.97, a price-to-earnings-growth ratio of 1.98 and a beta of 1.05. The firm's fifty day moving average price is $229.08 and its 200 day moving average price is $218.90. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $247.99.

Laboratory Co. of America (NYSE:LH - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The medical research company reported $3.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.48 by $0.02. The firm had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.26 billion. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. The business's revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.38 earnings per share. As a group, sell-side analysts expect that Laboratory Co. of America Holdings will post 14.53 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, November 26th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.24%. The ex-dividend date is Tuesday, November 26th. Laboratory Co. of America's payout ratio is presently 55.71%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Hsbc Global Res raised Laboratory Co. of America from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 30th. Jefferies Financial Group boosted their target price on shares of 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 cut shares of Laboratory Co. of America from a "buy" rating to a "hold" rating in a research note on Friday, October 25th. HSBC upgraded shares of Laboratory Co. of America from a "hold" rating to a "buy" rating in a research report on Wednesday, October 30th. Finally, Piper Sandler increased their price objective on Laboratory Co. of America from $235.00 to $240.00 and gave the company a "neutral" rating in a research report on Monday, October 28th. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $255.92.

Insiders Place Their Bets

In related news, CMO Amy B. Summy sold 3,672 shares of the company's stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $238.91, for a total value of $877,277.52. Following the completion of the transaction, the chief marketing officer now directly owns 4,318 shares of the company's stock, valued at approximately $1,031,613.38. This represents a 45.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Adam H. Schechter sold 6,189 shares of Laboratory Co. of America stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $243.47, for a total value 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 represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,572 shares of company stock worth $5,910,209. Corporate insiders own 0.85% of the company's stock.

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.