Spire Wealth Management Decreases Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

Spire Wealth Management reduced its stake in Laboratory Co. of America Holdings (NYSE:LHFree Report) by 8.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 897 shares of the medical research company’s stock after selling 87 shares during the quarter. Spire Wealth Management’s holdings in Laboratory Co. of America were worth $180,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Lazard Asset Management LLC boosted its stake in Laboratory Co. of America by 532.2% during the 4th quarter. Lazard Asset Management LLC now owns 1,530,675 shares of the medical research company’s stock valued at $360,441,000 after purchasing an additional 1,288,574 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its stake in Laboratory Co. of America by 644.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,280,884 shares of the medical research company’s stock valued at $257,522,000 after purchasing an additional 1,108,776 shares during the last quarter. Norges Bank purchased a new stake in Laboratory Co. of America during the 4th quarter valued at $219,236,000. Allspring Global Investments Holdings LLC boosted its stake in Laboratory Co. of America by 3,836.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 806,975 shares of the medical research company’s stock valued at $162,243,000 after purchasing an additional 786,477 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in Laboratory Co. of America by 6.2% during the 2nd quarter. BlackRock Inc. now owns 12,703,935 shares of the medical research company’s stock valued at $3,065,841,000 after purchasing an additional 743,824 shares during the last quarter. 89.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Evercore ISI assumed coverage on Laboratory Co. of America in a report on Friday. They set an “in-line” rating and a $240.00 price target on the stock. Mizuho lowered their price target on Laboratory Co. of America from $257.00 to $230.00 and set a “buy” rating on the stock in a report on Tuesday, October 31st. Barclays assumed coverage on Laboratory Co. of America in a report on Wednesday, January 3rd. They set an “equal weight” rating and a $222.00 price target on the stock. JPMorgan Chase & Co. increased their price target on Laboratory Co. of America from $259.00 to $261.00 and gave the company an “overweight” rating in a report on Friday, November 17th. Finally, TheStreet raised Laboratory Co. of America from a “c+” rating to a “b-” rating in a report on Thursday, January 18th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $241.86.

Check Out Our Latest Stock Report on Laboratory Co. of America

Laboratory Co. of America Price Performance

Shares of Laboratory Co. of America stock opened at $222.59 on Friday. Laboratory Co. of America Holdings has a one year low of $174.20 and a one year high of $234.09. The stock’s fifty day moving average is $223.49 and its 200 day moving average is $213.24. The stock has a market cap of $18.90 billion, a P/E ratio of 29.76 and a beta of 1.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.20 and a current ratio of 1.36.

Laboratory Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 13th. Shareholders of record on Tuesday, February 27th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Monday, February 26th. This represents a $2.88 dividend on an annualized basis and a yield of 1.29%. Laboratory Co. of America’s dividend payout ratio is presently 38.50%.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, CAO Peter J. Wilkinson sold 1,384 shares of the firm’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $210.71, for a total transaction of $291,622.64. Following the sale, the chief accounting officer now directly owns 2,087 shares of the company’s stock, valued at $439,751.77. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Laboratory Co. of America news, CAO Peter J. Wilkinson sold 1,384 shares of the firm’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $210.71, for a total transaction of $291,622.64. Following the sale, the chief accounting officer now directly owns 2,087 shares of the company’s stock, valued at $439,751.77. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 259 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $222.06, for a total value of $57,513.54. Following the sale, the executive vice president now directly owns 7,637 shares in the company, valued at $1,695,872.22. The disclosure for this sale can be found here. Insiders own 0.65% of the company’s stock.

About Laboratory Co. of America

(Free Report)

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 and Labcorp Drug Development.

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Institutional Ownership by Quarter for Laboratory Co. of America (NYSE:LH)

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