Geneos Wealth Management Inc. Trims Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Geneos Wealth Management Inc. trimmed its position in Laboratory Co. of America Holdings (NYSE:LH) by 75.6% in the 4th quarter, HoldingsChannel reports. The fund owned 141 shares of the medical research company’s stock after selling 438 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Laboratory Co. of America were worth $32,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LH. Eagle Bay Advisors LLC purchased a new stake in Laboratory Co. of America during the 2nd quarter valued at approximately $29,000. Mendota Financial Group LLC purchased a new stake in Laboratory Co. of America during the 4th quarter valued at approximately $29,000. Provence Wealth Management Group purchased a new stake in Laboratory Co. of America during the 3rd quarter valued at approximately $29,000. Tradewinds Capital Management LLC purchased a new stake in Laboratory Co. of America during the 3rd quarter valued at approximately $34,000. Finally, Exchange Traded Concepts LLC purchased a new stake in Laboratory Co. of America during the 3rd quarter valued at approximately $37,000. 95.94% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Der Vaart Sandra D. Van sold 259 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $222.06, for a total transaction of $57,513.54. Following the transaction, the executive vice president now owns 7,637 shares in the company, valued at $1,695,872.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 237 shares of Laboratory Co. of America stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $226.45, for a total value of $53,668.65. Following the transaction, the executive vice president now owns 7,637 shares in the company, valued at $1,729,398.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Der Vaart Sandra D. Van sold 259 shares of Laboratory Co. of America 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 completion of the transaction, the executive vice president now owns 7,637 shares in the company, valued at approximately $1,695,872.22. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,305 shares of company stock worth $11,761,059. Company insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Down 1.0 %

NYSE:LH opened at $199.97 on Thursday. Laboratory Co. of America Holdings has a twelve month low of $174.20 and a twelve month high of $234.09. The company has a market cap of $16.82 billion, a price-to-earnings ratio of 42.82, a price-to-earnings-growth ratio of 1.53 and a beta of 1.01. The stock has a fifty day simple moving average of $214.63 and a 200-day simple moving average of $214.69. The company has a current ratio of 1.17, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52.

Laboratory Co. of America (NYSE:LH) last released its earnings results on Thursday, February 15th. The medical research company reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.29 by $0.01. Laboratory Co. of America had a return on equity of 13.99% and a net margin of 3.24%. The business had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.02 billion. During the same period last year, the company earned $4.14 earnings per share. The business’s revenue for the quarter was down 17.5% compared to the same quarter last year. Analysts anticipate that Laboratory Co. of America Holdings will post 14.84 EPS for the current year.

Laboratory Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 28th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, May 24th. This represents a $2.88 annualized dividend and a dividend yield of 1.44%. Laboratory Co. of America’s dividend payout ratio (DPR) is 61.67%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Barclays assumed coverage on shares of Laboratory Co. of America in a report on Wednesday, January 3rd. They issued an “equal weight” rating and a $222.00 target price for the company. Argus raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 target price for the company in a report on Monday, March 25th. SVB Leerink assumed coverage on shares of Laboratory Co. of America in a report on Monday, February 26th. They issued an “outperform” rating and a $260.00 target price for the company. Evercore ISI assumed coverage on shares of Laboratory Co. of America in a report on Friday, February 9th. They issued an “in-line” rating and a $240.00 target price for the company. Finally, Leerink Partnrs reissued an “outperform” rating on shares of Laboratory Co. of America in a report on Monday, February 26th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Laboratory Co. of America presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.50.

Laboratory Co. of America Company Profile

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).