Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lessened its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 6.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,711 shares of the medical research company’s stock after selling 1,323 shares during the quarter. Retirement Systems of Alabama’s holdings in Laboratory Co. of America were worth $4,253,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Provence Wealth Management Group purchased a new position in shares of Laboratory Co. of America in the third quarter valued at approximately $29,000. Mendota Financial Group LLC purchased a new position in shares of Laboratory Co. of America in the fourth quarter valued at approximately $29,000. Tradewinds Capital Management LLC purchased a new position in shares of Laboratory Co. of America in the third quarter valued at approximately $34,000. Bruce G. Allen Investments LLC purchased a new position in shares of Laboratory Co. of America in the fourth quarter valued at approximately $60,000. Finally, Disciplined Equity Management Inc. purchased a new position in shares of Laboratory Co. of America in the fourth quarter valued at approximately $68,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Insider Activity

In other news, Director Kerrii B. Anderson sold 250 shares of Laboratory Co. of America stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $200.10, for a total value of $50,025.00. Following the transaction, the director now directly owns 15,722 shares of the company’s stock, valued at approximately $3,145,972.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Peter J. Wilkinson sold 2,439 shares of Laboratory Co. of America stock in a transaction on Monday, April 29th. The shares were sold at an average price of $204.33, for a total value of $498,360.87. Following the transaction, the chief accounting officer now directly owns 2,087 shares in the company, valued at approximately $426,436.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kerrii B. Anderson sold 250 shares of Laboratory Co. of America stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $200.10, for a total transaction of $50,025.00. Following the completion of the transaction, the director now owns 15,722 shares in the company, valued at $3,145,972.20. The disclosure for this sale can be found here. Insiders have sold 57,244 shares of company stock valued at $12,360,478 in the last ninety days. 0.85% of the stock is currently owned by company insiders.

Laboratory Co. of America Stock Down 0.1 %

LH stock opened at $201.04 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.76 and a debt-to-equity ratio of 0.39. Laboratory Co. of America Holdings has a twelve month low of $174.20 and a twelve month high of $234.09. The company’s 50 day moving average is $209.84 and its two-hundred day moving average is $214.88. The stock has a market cap of $16.95 billion, a P/E ratio of 40.45, a PEG ratio of 1.51 and a beta of 1.02.

Laboratory Co. of America (NYSE:LH) last announced its earnings results on Thursday, April 25th. The medical research company reported $3.68 EPS for the quarter, beating analysts’ consensus estimates of $3.48 by $0.20. The business had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.12 billion. Laboratory Co. of America had a net margin of 3.52% and a return on equity of 14.68%. The company’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $3.82 EPS. Research analysts expect that Laboratory Co. of America Holdings will post 14.87 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

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 issued a $0.72 dividend. The ex-dividend date is Tuesday, May 28th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.43%. Laboratory Co. of America’s payout ratio is 57.95%.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Leerink Partnrs reissued an “outperform” rating on shares of Laboratory Co. of America in a research note on Monday, February 26th. Barclays lowered their price objective on shares of Laboratory Co. of America from $234.00 to $213.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Robert W. Baird lowered their price objective on shares of Laboratory Co. of America from $255.00 to $244.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. Argus raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 target price on the stock in a report on Monday, March 25th. Finally, Evercore ISI started 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 on the stock. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $243.14.

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).