Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Moran Wealth Management LLC

Moran Wealth Management LLC decreased its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 4.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,032 shares of the medical research company’s stock after selling 543 shares during the period. Moran Wealth Management LLC’s holdings in Laboratory Co. of America were worth $3,145,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. WealthPLAN Partners LLC bought a new position in shares of Laboratory Co. of America in the first quarter valued at approximately $25,000. Eagle Bay Advisors LLC acquired a new stake in shares of Laboratory Co. of America in the second quarter worth $29,000. Clear Street Markets LLC grew its stake in shares of Laboratory Co. of America by 93.3% in the first quarter. Clear Street Markets LLC now owns 174 shares of the medical research company’s stock worth $40,000 after acquiring an additional 84 shares during the last quarter. Old North State Trust LLC grew its stake in shares of Laboratory Co. of America by 429.3% in the first quarter. Old North State Trust LLC now owns 921 shares of the medical research company’s stock worth $40,000 after acquiring an additional 747 shares during the last quarter. Finally, Raleigh Capital Management Inc. grew its stake in shares of Laboratory Co. of America by 38.7% in the first quarter. Raleigh Capital Management Inc. now owns 215 shares of the medical research company’s stock worth $49,000 after acquiring an additional 60 shares during the last quarter. Institutional investors and hedge funds own 89.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company lowered their price objective on shares of Laboratory Co. of America from $290.00 to $270.00 and set an “overweight” rating on the stock in a research note on Monday, August 14th. Bank of America decreased their price target on shares of Laboratory Co. of America from $238.00 to $230.00 and set a “buy” rating on the stock in a research note on Thursday, September 21st. Credit Suisse Group reduced their target price on shares of Laboratory Co. of America from $247.41 to $231.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 2nd. Robert W. Baird reduced their target price on shares of Laboratory Co. of America from $251.00 to $237.00 and set an “outperform” rating on the stock in a research note on Monday, September 18th. Finally, Mizuho reduced their target price on shares of Laboratory Co. of America from $257.00 to $230.00 and set a “buy” rating on the stock in a research note on Tuesday, October 31st. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $243.67.

Insiders Place Their Bets

In other Laboratory Co. of America news, CAO Peter J. Wilkinson sold 1,384 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $210.71, for a total transaction of $291,622.64. Following the completion of the sale, the chief accounting officer now directly owns 2,087 shares of the company’s stock, valued at approximately $439,751.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.65% of the company’s stock.

Laboratory Co. of America Stock Performance

Laboratory Co. of America stock opened at $211.10 on Tuesday. The stock has a 50-day simple moving average of $203.45 and a 200 day simple moving average of $212.67. The company has a quick ratio of 1.20, a current ratio of 1.36 and a debt-to-equity ratio of 0.57. Laboratory Co. of America Holdings has a 12-month low of $174.20 and a 12-month high of $222.33. The stock has a market capitalization of $17.92 billion, a price-to-earnings ratio of 28.22 and a beta of 1.07.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings data on Thursday, October 26th. The medical research company reported $3.38 earnings per share for the quarter, topping the consensus estimate of $3.37 by $0.01. The firm had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $2.99 billion. Laboratory Co. of America had a return on equity of 14.09% and a net margin of 4.88%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the business posted $4.68 EPS. On average, research analysts anticipate that Laboratory Co. of America Holdings will post 13.58 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Wednesday, November 8th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Tuesday, November 7th. This represents a $2.88 annualized dividend and a yield of 1.36%. Laboratory Co. of America’s dividend payout ratio is currently 38.50%.

Laboratory Co. of America 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 and Labcorp Drug Development.