Chevy Chase Trust Holdings LLC Lowers Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Chevy Chase Trust Holdings LLC reduced its stake in shares of Laboratory Co. of America Holdings (NYSE:LHFree Report) by 1.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 52,008 shares of the medical research company’s stock after selling 935 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Laboratory Co. of America were worth $11,362,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Norges Bank purchased a new stake in Laboratory Co. of America during the fourth quarter worth $291,045,000. Allspring Global Investments Holdings LLC grew its position in shares of Laboratory Co. of America by 58.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,613,854 shares of the medical research company’s stock valued at $352,563,000 after acquiring an additional 597,571 shares during the period. Wellington Management Group LLP raised its holdings in Laboratory Co. of America by 20.6% in the 3rd quarter. Wellington Management Group LLP now owns 2,487,106 shares of the medical research company’s stock worth $500,033,000 after purchasing an additional 424,684 shares during the period. Veritas Investment Partners UK Ltd. grew its holdings in Laboratory Co. of America by 32.5% in the fourth quarter. Veritas Investment Partners UK Ltd. now owns 1,140,300 shares of the medical research company’s stock valued at $259,133,000 after purchasing an additional 279,628 shares during the period. Finally, Public Sector Pension Investment Board increased its position in shares of Laboratory Co. of America by 2,750.2% in the fourth quarter. Public Sector Pension Investment Board now owns 270,483 shares of the medical research company’s stock valued at $61,478,000 after buying an additional 260,993 shares in the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LH has been the topic of several research analyst reports. Barclays dropped their target price on shares of Laboratory Co. of America from $234.00 to $213.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Evercore ISI lifted their price objective on Laboratory Co. of America from $210.00 to $215.00 and gave the stock an “in-line” rating in a report on Tuesday. StockNews.com lowered Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Tuesday, June 4th. Truist Financial decreased their target price on Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. Finally, Robert W. Baird boosted their price target on Laboratory Co. of America from $258.00 to $261.00 and gave the stock an “outperform” rating in a research report on Monday. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $241.29.

Get Our Latest Research Report on LH

Insider Activity

In other news, CAO Peter J. Wilkinson sold 2,439 shares of the firm’s 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 sale, the chief accounting officer now directly owns 2,087 shares in the company, valued at approximately $426,436.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Laboratory Co. of America news, CAO Peter J. Wilkinson sold 2,439 shares of the stock in a transaction that occurred 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 $426,436.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Der Vaart Sandra D. Van sold 2,000 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $210.83, for a total transaction of $421,660.00. Following the completion of the transaction, the executive vice president now owns 5,637 shares of the company’s stock, valued at approximately $1,188,448.71. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,939 shares of company stock worth $1,021,078. 0.85% of the stock is currently owned by company insiders.

Laboratory Co. of America Stock Up 0.2 %

Shares of NYSE LH traded up $0.48 during midday trading on Wednesday, hitting $199.83. The company’s stock had a trading volume of 158,377 shares, compared to its average volume of 728,027. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.88 and a quick ratio of 0.76. The firm has a market capitalization of $16.85 billion, a price-to-earnings ratio of 40.31, a price-to-earnings-growth ratio of 1.53 and a beta of 1.05. The business’s fifty day simple moving average is $202.24 and its two-hundred day simple moving average is $211.94. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $234.09.

Laboratory Co. of America (NYSE:LHGet Free Report) last issued its quarterly earnings results on Thursday, April 25th. The medical research company reported $3.68 EPS for the quarter, beating the consensus estimate of $3.48 by $0.20. Laboratory Co. of America had a net margin of 3.52% and a return on equity of 14.68%. The company had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same quarter last year, the company posted $3.82 EPS. The firm’s revenue was up 4.6% compared to the same quarter last year. On average, equities analysts predict that Laboratory Co. of America Holdings will post 14.87 EPS for the current year.

Laboratory Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 28th were given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date was Friday, May 24th. Laboratory Co. of America’s dividend payout ratio is currently 57.95%.

Laboratory Co. of America Company Profile

(Free Report)

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).

Featured Stories

Want to see what other hedge funds are holding LH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Laboratory Co. of America Holdings (NYSE:LHFree Report).

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

Receive News & Ratings for Laboratory Co. of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laboratory Co. of America and related companies with MarketBeat.com's FREE daily email newsletter.