State Board of Administration of Florida Retirement System Sells 6,181 Shares of Laboratory Co. of America Holdings (NYSE:LH)

State Board of Administration of Florida Retirement System trimmed its position in shares of Laboratory Co. of America Holdings (NYSE:LHGet Rating) by 5.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,892 shares of the medical research company’s stock after selling 6,181 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.12% of Laboratory Co. of America worth $29,238,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. MCF Advisors LLC bought a new stake in Laboratory Co. of America in the 1st quarter valued at $25,000. CarsonAllaria Wealth Management Ltd. bought a new stake in Laboratory Co. of America in the 4th quarter valued at $31,000. Washington Trust Advisors Inc. lifted its position in Laboratory Co. of America by 352.2% in the 1st quarter. Washington Trust Advisors Inc. now owns 104 shares of the medical research company’s stock valued at $27,000 after acquiring an additional 81 shares in the last quarter. Ellevest Inc. lifted its position in Laboratory Co. of America by 991.7% during the 1st quarter. Ellevest Inc. now owns 131 shares of the medical research company’s stock worth $35,000 after buying an additional 119 shares in the last quarter. Finally, Allegheny Financial Group LTD bought a new stake in Laboratory Co. of America during the 4th quarter worth about $50,000. 92.02% of the stock is owned by institutional investors.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 32,100 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $253.94, for a total value of $8,151,474.00. Following the completion of the sale, the chief financial officer now owns 52,158 shares of the company’s stock, valued at approximately $13,245,002.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Peter J. Wilkinson sold 2,576 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $258.40, for a total transaction of $665,638.40. Following the completion of the sale, the chief accounting officer now owns 1,887 shares of the company’s stock, valued at approximately $487,600.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Glenn A. Eisenberg sold 32,100 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $253.94, for a total transaction of $8,151,474.00. Following the sale, the chief financial officer now directly owns 52,158 shares of the company’s stock, valued at approximately $13,245,002.52. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Laboratory Co. of America Stock Up 0.9 %

Shares of LH opened at $254.67 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.74 and a current ratio of 1.90. The firm has a market cap of $23.61 billion, a P/E ratio of 12.19 and a beta of 1.03. Laboratory Co. of America Holdings has a 52 week low of $212.40 and a 52 week high of $317.17. The firm’s 50-day simple moving average is $241.12 and its 200 day simple moving average is $256.43.

Laboratory Co. of America (NYSE:LHGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The medical research company reported $4.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.60 by $0.35. The firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.76 billion. Laboratory Co. of America had a net margin of 12.67% and a return on equity of 22.39%. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.13 EPS. On average, analysts forecast that Laboratory Co. of America Holdings will post 20.21 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Thursday, August 18th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Wednesday, August 17th. Laboratory Co. of America’s dividend payout ratio is currently 13.78%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on LH. Truist Financial cut their price target on shares of Laboratory Co. of America from $350.00 to $320.00 in a research report on Friday, April 29th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Laboratory Co. of America from $294.00 to $265.00 in a research note on Tuesday, May 3rd. Mizuho lowered their price objective on shares of Laboratory Co. of America from $354.00 to $323.00 in a research note on Wednesday, May 4th. Morgan Stanley lowered their price objective on shares of Laboratory Co. of America from $360.00 to $300.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 25th. Finally, Wells Fargo & Company lowered their price objective on shares of Laboratory Co. of America from $290.00 to $235.00 and set an “equal weight” rating on the stock in a research note on Monday, April 25th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Laboratory Co. of America currently has an average rating of “Moderate Buy” and a consensus target price of $299.75.

Laboratory Co. of America Company Profile

(Get Rating)

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates in two segments, Labcorp Diagnostics (Dx) and Labcorp Drug Development (DD). It offers various tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C and vitamin D products, prostate-specific antigens, tests for sexually transmitted diseases, hepatitis C tests, microbiology cultures and procedures, and alcohol and other substance-abuse tests.

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

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