Natixis Investment Managers International Trims Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

Natixis Investment Managers International lessened its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 78.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 596 shares of the medical research company’s stock after selling 2,145 shares during the period. Natixis Investment Managers International’s holdings in Laboratory Co. of America were worth $130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. CANADA LIFE ASSURANCE Co raised its holdings in shares of Laboratory Co. of America by 18.9% during the first quarter. CANADA LIFE ASSURANCE Co now owns 150,046 shares of the medical research company’s stock worth $32,802,000 after purchasing an additional 23,860 shares during the last quarter. Arjuna Capital increased its holdings in Laboratory Co. of America by 38.6% in the first quarter. Arjuna Capital now owns 3,347 shares of the medical research company’s stock valued at $731,000 after buying an additional 933 shares in the last quarter. UniSuper Management Pty Ltd increased its holdings in Laboratory Co. of America by 10.2% in the first quarter. UniSuper Management Pty Ltd now owns 46,060 shares of the medical research company’s stock valued at $10,062,000 after buying an additional 4,248 shares in the last quarter. Seven Eight Capital LP purchased a new position in Laboratory Co. of America in the first quarter valued at $1,293,000. Finally, O Shaughnessy Asset Management LLC increased its holdings in Laboratory Co. of America by 4.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 4,890 shares of the medical research company’s stock valued at $1,068,000 after buying an additional 203 shares in the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Price Performance

LH traded up $0.26 on Thursday, reaching $209.75. 470,543 shares of the company’s stock were exchanged, compared to its average volume of 716,030. The stock has a market cap of $17.68 billion, a PE ratio of 42.20, a P/E/G ratio of 1.56 and a beta of 1.05. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $234.09. The stock’s fifty day moving average price is $203.25 and its 200-day moving average price is $210.74. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.88 and a quick ratio of 0.76.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings results on Thursday, April 25th. The medical research company reported $3.68 earnings per share for the quarter, topping analysts’ consensus estimates of $3.48 by $0.20. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.12 billion. Laboratory Co. of America had a net margin of 3.52% and a return on equity of 14.68%. Laboratory Co. of America’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the business posted $3.82 earnings per share. Sell-side analysts expect that Laboratory Co. of America Holdings will post 14.84 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, August 29th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.37%. Laboratory Co. of America’s payout ratio is 57.95%.

Insider Buying and Selling at Laboratory Co. of America

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on LH shares. Evercore ISI lifted their price objective on shares of Laboratory Co. of America from $210.00 to $215.00 and gave the company an “in-line” rating in a report on Tuesday, July 9th. JPMorgan Chase & Co. cut their price objective on shares of Laboratory Co. of America from $261.00 to $243.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. Barclays cut 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 report on Friday, April 26th. Truist Financial cut their target price on shares of Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating for the company in a research note on Friday, April 26th. Finally, Robert W. Baird boosted their target price on shares of Laboratory Co. of America from $258.00 to $261.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $241.29.

About Laboratory Co. of America

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).