Mutual of America Capital Management LLC Reduces Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

Mutual of America Capital Management LLC trimmed its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 8.6% in the 4th quarter, HoldingsChannel reports. The fund owned 13,474 shares of the medical research company’s stock after selling 1,262 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Laboratory Co. of America were worth $3,063,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in LH. Provence Wealth Management Group purchased a new position in Laboratory Co. of America in the third quarter worth approximately $29,000. Mendota Financial Group LLC purchased a new position in Laboratory Co. of America in the fourth quarter worth approximately $29,000. Eagle Bay Advisors LLC purchased a new position in shares of Laboratory Co. of America during the second quarter worth $29,000. Tradewinds Capital Management LLC purchased a new position in shares of Laboratory Co. of America during the third quarter worth $34,000. Finally, Exchange Traded Concepts LLC purchased a new position in shares of Laboratory Co. of America during the third quarter worth $37,000. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Laboratory Co. of America Stock Down 0.3 %

Laboratory Co. of America stock opened at $199.44 on Friday. Laboratory Co. of America Holdings has a 1-year low of $174.20 and a 1-year high of $234.09. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.17 and a quick ratio of 1.02. The stock has a market cap of $16.78 billion, a PE ratio of 42.71, a P/E/G ratio of 1.52 and a beta of 1.01. The stock’s fifty day moving average is $214.16 and its two-hundred day moving average is $214.58.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings results on Thursday, February 15th. The medical research company reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3.02 billion. During the same period last year, the firm earned $4.14 earnings per share. Laboratory Co. of America’s quarterly revenue was down 17.5% on a year-over-year basis. On average, sell-side analysts expect that Laboratory Co. of America Holdings will post 14.84 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 28th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Friday, May 24th. Laboratory Co. of America’s dividend payout ratio is presently 61.67%.

Insider Buying and Selling at Laboratory Co. of America

In other news, COO Mark S. Schroeder sold 5,048 shares of Laboratory Co. of America stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $218.45, for a total transaction of $1,102,735.60. Following the sale, the chief operating officer now owns 5,036 shares in the company, valued at $1,100,114.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Mark S. Schroeder sold 5,048 shares of Laboratory Co. of America stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $218.45, for a total transaction of $1,102,735.60. Following the sale, the chief operating officer now owns 5,036 shares in the company, valued at $1,100,114.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 sale, the executive vice president now owns 7,637 shares in the company, valued at approximately $1,729,398.65. The disclosure for this sale can be found here. Insiders have sold a total of 54,305 shares of company stock worth $11,761,059 over the last ninety days. Corporate insiders own 0.85% of the company’s stock.

Analyst Ratings Changes

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

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).