Signature Estate & Investment Advisors LLC Sells 4,835 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Signature Estate & Investment Advisors LLC lowered its stake in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 34.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,103 shares of the medical research company's stock after selling 4,835 shares during the period. Signature Estate & Investment Advisors LLC's holdings in Laboratory Co. of America were worth $2,034,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Insight Inv LLC increased its stake in Laboratory Co. of America by 1.3% during the 2nd quarter. Insight Inv LLC now owns 3,530 shares of the medical research company's stock valued at $718,000 after purchasing an additional 45 shares in the last quarter. Athena Investment Management lifted its position in Laboratory Co. of America by 4.8% in the 2nd quarter. Athena Investment Management now owns 1,040 shares of the medical research company's stock valued at $212,000 after acquiring an additional 48 shares in the last quarter. Concord Wealth Partners boosted its stake in Laboratory Co. of America by 43.3% during the 3rd quarter. Concord Wealth Partners now owns 172 shares of the medical research company's stock valued at $38,000 after purchasing an additional 52 shares during the last quarter. Pure Financial Advisors LLC increased its holdings in Laboratory Co. of America by 5.1% during the 2nd quarter. Pure Financial Advisors LLC now owns 1,089 shares of the medical research company's stock worth $222,000 after purchasing an additional 53 shares in the last quarter. Finally, SP Asset Management LLC raised its stake in shares of Laboratory Co. of America by 0.4% in the second quarter. SP Asset Management LLC now owns 15,096 shares of the medical research company's stock worth $3,072,000 after purchasing an additional 56 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Laboratory Co. of America

In other news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the firm's stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $227.05, for a total value of $454,100.00. Following the transaction, the executive vice president now owns 3,670 shares of the company's stock, valued at $833,273.50. This trade represents a 35.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adam H. Schechter sold 6,189 shares of the firm's 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 sale, the chief executive officer now directly owns 87,441 shares in the company, valued at approximately $21,289,260.27. This represents a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,189 shares of company stock valued at $2,190,936. Corporate insiders own 0.85% of the company's stock.

Laboratory Co. of America Stock Performance

Laboratory Co. of America stock traded down $2.97 during mid-day trading on Friday, reaching $235.21. The company's stock had a trading volume of 2,023,796 shares, compared to its average volume of 674,322. The company has a market capitalization of $19.67 billion, a P/E ratio of 46.21, a PEG ratio of 2.03 and a beta of 1.05. The firm's fifty day moving average price is $224.18 and its two-hundred day moving average price is $215.41. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $247.99. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.44.

Laboratory Co. of America (NYSE:LH - Get Free Report) last released 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. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same period in the previous year, the company posted $3.38 EPS. The firm's revenue for the quarter was up 7.4% compared to the same quarter last year. Sell-side analysts predict that Laboratory Co. of America Holdings will post 14.53 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors 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 dividend on an annualized basis and a yield of 1.22%. Laboratory Co. of America's dividend payout ratio is presently 55.71%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. HSBC upgraded Laboratory Co. of America from a "hold" rating to a "buy" rating in a report on Wednesday, October 30th. Piper Sandler raised their price target on shares of 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. Jefferies Financial Group upped their price objective on shares of Laboratory Co. of America from $245.00 to $265.00 and gave the stock a "buy" rating in a research report on Monday, September 23rd. Hsbc Global Res raised shares of Laboratory Co. of America from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 30th. Finally, Bank of America upped their target price on Laboratory Co. of America from $240.00 to $260.00 and gave the company a "buy" rating in a report on Monday, August 5th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price 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.