Xponance Inc. Lowers Stake in Laboratory Co. of America Holdings (NYSE:LH)

Xponance Inc. reduced its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 6.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,452 shares of the medical research company’s stock after selling 803 shares during the period. Xponance Inc.’s holdings in Laboratory Co. of America were worth $2,603,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. SFE Investment Counsel lifted its position in Laboratory Co. of America by 2.3% during the 4th quarter. SFE Investment Counsel now owns 10,527 shares of the medical research company’s stock valued at $2,393,000 after acquiring an additional 240 shares during the period. Daiwa Securities Group Inc. increased its stake in Laboratory Co. of America by 7.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 9,163 shares of the medical research company’s stock valued at $2,083,000 after purchasing an additional 654 shares in the last quarter. Oakworth Capital Inc. increased its stake in Laboratory Co. of America by 48.1% during the 4th quarter. Oakworth Capital Inc. now owns 308 shares of the medical research company’s stock valued at $70,000 after purchasing an additional 100 shares in the last quarter. Everence Capital Management Inc. increased its stake in Laboratory Co. of America by 82.0% during the 4th quarter. Everence Capital Management Inc. now owns 7,300 shares of the medical research company’s stock valued at $1,659,000 after purchasing an additional 3,290 shares in the last quarter. Finally, Desjardins Global Asset Management Inc. increased its stake in Laboratory Co. of America by 85.0% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 7,587 shares of the medical research company’s stock valued at $1,724,000 after purchasing an additional 3,487 shares in the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 259 shares of Laboratory Co. of America stock in a transaction that occurred on Thursday, February 8th. The shares were 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 of the company’s stock, valued at $1,695,872.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Glenn A. Eisenberg sold 34,504 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $215.97, for a total value of $7,451,828.88. Following the transaction, the chief financial officer now owns 23,595 shares of the company’s stock, valued at $5,095,812.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Der Vaart Sandra D. Van sold 259 shares of the business’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 completion of the transaction, the executive vice president now directly owns 7,637 shares in the company, valued at approximately $1,695,872.22. The disclosure for this sale can be found here. Insiders have sold 54,305 shares of company stock valued at $11,761,059 over the last 90 days. 0.85% of the stock is currently owned by corporate insiders.

Laboratory Co. of America Stock Performance

LH opened at $203.07 on Tuesday. The company has a current ratio of 1.17, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52. The company has a market cap of $17.08 billion, a price-to-earnings ratio of 43.48, a PEG ratio of 1.51 and a beta of 1.01. The company’s 50 day moving average is $213.25 and its 200 day moving average is $214.81. Laboratory Co. of America Holdings has a 12-month low of $174.20 and a 12-month high of $234.09.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings data on Thursday, February 15th. The medical research company reported $3.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.29 by $0.01. Laboratory Co. of America had a net margin of 3.24% and a return on equity of 13.99%. The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.02 billion. During the same quarter last year, the firm posted $4.14 earnings per share. The firm’s revenue was down 17.5% compared to the same quarter last year. On average, equities research analysts predict that Laboratory Co. of America Holdings will post 14.84 EPS for the current year.

Laboratory Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 28th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Friday, May 24th. Laboratory Co. of America’s dividend payout ratio is currently 61.67%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on LH shares. Evercore ISI started coverage on shares of Laboratory Co. of America in a research note on Friday, February 9th. They set an “in-line” rating and a $240.00 price objective for the company. Argus upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 price objective for the company in a research note on Monday, March 25th. Barclays initiated coverage on shares of Laboratory Co. of America in a research note on Wednesday, January 3rd. They set an “equal weight” rating and a $222.00 price objective for the company. Leerink Partnrs reiterated an “outperform” rating on shares of Laboratory Co. of America in a research note on Monday, February 26th. Finally, TheStreet lowered shares of Laboratory Co. of America from a “b-” rating to a “c+” rating in a research note on Thursday, February 15th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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).