Robeco Institutional Asset Management B.V. Sells 66,234 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Robeco Institutional Asset Management B.V. decreased its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH – Get Rating) by 44.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 81,654 shares of the medical research company’s stock after selling 66,234 shares during the period. Robeco Institutional Asset Management B.V. owned 0.09% of Laboratory Co. of America worth $16,720,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. increased its position in shares of Laboratory Co. of America by 45.9% during the second quarter. JPMorgan Chase & Co. now owns 1,904,199 shares of the medical research company’s stock valued at $446,269,000 after acquiring an additional 598,645 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Laboratory Co. of America by 1.6% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,416 shares of the medical research company’s stock valued at $1,314,000 after acquiring an additional 98 shares in the last quarter. Clarius Group LLC increased its position in shares of Laboratory Co. of America by 13.1% during the second quarter. Clarius Group LLC now owns 967 shares of the medical research company’s stock valued at $227,000 after acquiring an additional 112 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Laboratory Co. of America by 5.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,902 shares of the medical research company’s stock valued at $10,835,000 after acquiring an additional 2,762 shares in the last quarter. Finally, Synovus Financial Corp increased its position in shares of Laboratory Co. of America by 16.8% during the second quarter. Synovus Financial Corp now owns 1,932 shares of the medical research company’s stock valued at $448,000 after acquiring an additional 278 shares in the last quarter. Institutional investors own 89.70% of the company’s stock.

Laboratory Co. of America Trading Down 2.6 %

Shares of Laboratory Co. of America stock opened at $213.32 on Friday. The company’s fifty day simple moving average is $243.85 and its 200-day simple moving average is $232.79. The stock has a market capitalization of $18.88 billion, a PE ratio of 15.39 and a beta of 1.06. Laboratory Co. of America Holdings has a 1-year low of $200.32 and a 1-year high of $281.22. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.50 and a quick ratio of 1.35.

Laboratory Co. of America (NYSE:LH – Get Rating) last issued its quarterly earnings results on Thursday, February 16th. The medical research company reported $4.14 earnings per share for the quarter, topping the consensus estimate of $4.06 by $0.08. The business had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.74 billion. Laboratory Co. of America had a net margin of 8.60% and a return on equity of 17.68%. The company’s revenue was down 9.5% compared to the same quarter last year. During the same quarter last year, the company posted $6.77 EPS. As a group, equities analysts anticipate that Laboratory Co. of America Holdings will post 17.18 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 13th. Investors of record on Thursday, February 23rd were paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date was Wednesday, February 22nd. Laboratory Co. of America’s dividend payout ratio (DPR) is 20.78%.

Analyst Ratings Changes

LH has been the subject of several analyst reports. Robert W. Baird raised their price target on shares of Laboratory Co. of America to $300.00 and gave the company an “outperform” rating in a research report on Friday, February 17th. Credit Suisse Group cut their target price on shares of Laboratory Co. of America from $304.00 to $288.00 and set an “outperform” rating for the company in a research report on Monday, March 13th. Morgan Stanley lifted their target price on shares of Laboratory Co. of America from $290.00 to $303.00 and gave the stock an “overweight” rating in a research report on Friday, January 6th. Mizuho lifted their target price on shares of Laboratory Co. of America from $250.00 to $277.00 and gave the stock a “buy” rating in a research report on Friday, February 17th. Finally, Truist Financial lifted their target price on shares of Laboratory Co. of America from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, February 17th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $283.50.

Insider Activity at Laboratory Co. of America

In related news, EVP Der Vaart Sandra D. Van sold 173 shares of Laboratory Co. of America stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $253.90, for a total transaction of $43,924.70. Following the transaction, the executive vice president now owns 5,341 shares in the company, valued at approximately $1,356,079.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Der Vaart Sandra D. Van sold 173 shares of Laboratory Co. of America stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $253.90, for a total transaction of $43,924.70. Following the transaction, the executive vice president now owns 5,341 shares in the company, valued at approximately $1,356,079.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Paul R. Kirchgraber sold 8,000 shares of Laboratory Co. of America stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $250.58, for a total transaction of $2,004,640.00. Following the transaction, the chief executive officer now owns 9,069 shares in the company, valued at approximately $2,272,510.02. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,701 shares of company stock worth $2,178,302. 0.31% of the stock is owned by corporate insiders.

Laboratory Co. of America Profile

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Laboratory Corp. of America Holdings operates as a life sciences company, which engages in the provision of vital information to help health professionals make clear and confident decisions. It operates through the Drug Development and Diagnostics segments. The Drug Development segment consists of lead optimization, preclinical safety assessment, analytical services, clinical trials, central laboratories, biomarkers, and companion diagnostics, market access, and technology solutions.