Bellevue Group AG Sells 6,941 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Bellevue Group AG lessened its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 97.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 148 shares of the medical research company’s stock after selling 6,941 shares during the period. Bellevue Group AG’s holdings in Laboratory Co. of America were worth $32,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank bought a new stake in shares of Laboratory Co. of America in the fourth quarter valued at about $291,045,000. Allspring Global Investments Holdings LLC lifted its stake in Laboratory Co. of America by 58.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,613,854 shares of the medical research company’s stock valued at $352,563,000 after acquiring an additional 597,571 shares in the last quarter. Veritas Investment Partners UK Ltd. boosted its position in Laboratory Co. of America by 32.5% during the 4th quarter. Veritas Investment Partners UK Ltd. now owns 1,140,300 shares of the medical research company’s stock worth $259,133,000 after acquiring an additional 279,628 shares during the last quarter. Public Sector Pension Investment Board grew its stake in shares of Laboratory Co. of America by 2,750.2% during the 4th quarter. Public Sector Pension Investment Board now owns 270,483 shares of the medical research company’s stock worth $61,478,000 after acquiring an additional 260,993 shares in the last quarter. Finally, Magnetar Financial LLC acquired a new stake in shares of Laboratory Co. of America in the first quarter valued at approximately $45,567,000. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Laboratory Co. of America Price Performance

LH remained flat at $210.90 on Monday. 258,165 shares of the company traded hands, compared to its average volume of 710,625. The company has a 50 day moving average of $203.26 and a 200-day moving average of $210.41. The firm has a market capitalization of $17.78 billion, a price-to-earnings ratio of 42.43, a price-to-earnings-growth ratio of 1.59 and a beta of 1.05. The company has a quick ratio of 0.76, a current ratio of 0.88 and a debt-to-equity ratio of 0.39. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $234.09.

Laboratory Co. of America (NYSE:LH) last issued its earnings results on Thursday, April 25th. The medical research company reported $3.68 earnings per share for the quarter, beating analysts’ consensus estimates of $3.48 by $0.20. Laboratory Co. of America had a return on equity of 14.68% and a net margin of 3.52%. The firm had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter last year, the business posted $3.82 EPS. The company’s revenue was up 4.6% compared to the same quarter last year. Equities research analysts expect that Laboratory Co. of America Holdings will post 14.84 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Thursday, August 29th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Thursday, August 29th. Laboratory Co. of America’s dividend payout ratio is 57.95%.

Insider Buying and Selling at Laboratory Co. of America

In related news, Director Kerrii B. Anderson sold 250 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $204.13, for a total transaction of $51,032.50. Following the sale, the director now owns 15,972 shares in the company, valued at approximately $3,260,364.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Der Vaart Sandra D. Van sold 2,000 shares of Laboratory Co. of America stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $210.83, for a total transaction of $421,660.00. Following the transaction, the executive vice president now owns 5,637 shares in the company, valued at $1,188,448.71. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kerrii B. Anderson sold 250 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $204.13, for a total value of $51,032.50. Following the completion of the sale, the director now owns 15,972 shares of the company’s stock, valued at $3,260,364.36. The disclosure for this sale can be found here. Insiders have sold 2,500 shares of company stock worth $522,718 over the last quarter. Corporate insiders own 0.85% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on LH. StockNews.com cut Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Tuesday, June 4th. Robert W. Baird raised their target price on shares of Laboratory Co. of America from $258.00 to $261.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. JPMorgan Chase & Co. dropped their price target on shares of Laboratory Co. of America from $261.00 to $243.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Evercore ISI lifted their price objective on shares of Laboratory Co. of America from $210.00 to $215.00 and gave the company an “in-line” rating in a research report on Tuesday, July 9th. Finally, Truist Financial dropped their target price on shares of Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $241.29.

About Laboratory Co. of America

Laboratory Corporation of America Holdings operates as a life sciences company that provides vital information to help doctors, hospitals, pharmaceutical companies, researchers, and patients make clear and confident decisions. It operates in two segments, Labcorp Diagnostics (Dx) and Biopharma Laboratory Services (BLS).