Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Calamos Advisors LLC

Calamos Advisors LLC reduced its position in Laboratory Co. of America Holdings (NYSE:LH) by 3.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,877 shares of the medical research company’s stock after selling 1,675 shares during the period. Calamos Advisors LLC owned approximately 0.05% of Laboratory Co. of America worth $9,336,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of LH. International Assets Investment Management LLC acquired a new stake in shares of Laboratory Co. of America in the fourth quarter valued at about $5,838,000. Signaturefd LLC lifted its position in shares of Laboratory Co. of America by 27.2% during the fourth quarter. Signaturefd LLC now owns 1,241 shares of the medical research company’s stock worth $282,000 after purchasing an additional 265 shares in the last quarter. CWM LLC boosted its stake in shares of Laboratory Co. of America by 4.9% in the fourth quarter. CWM LLC now owns 3,060 shares of the medical research company’s stock valued at $696,000 after purchasing an additional 144 shares during the period. GAMMA Investing LLC acquired a new stake in Laboratory Co. of America during the 4th quarter valued at $158,000. Finally, Yousif Capital Management LLC increased its stake in Laboratory Co. of America by 24.2% during the 4th quarter. Yousif Capital Management LLC now owns 15,318 shares of the medical research company’s stock worth $3,482,000 after buying an additional 2,980 shares during the period. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Insider Buying and Selling

In other news, EVP Lance Berberian sold 12,093 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $229.10, for a total transaction of $2,770,506.30. Following the sale, the executive vice president now directly owns 15,921 shares of the company’s stock, valued at $3,647,501.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Lance Berberian sold 12,093 shares of Laboratory Co. of America stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $229.10, for a total value of $2,770,506.30. Following the transaction, the executive vice president now directly owns 15,921 shares of the company’s stock, valued at $3,647,501.10. The transaction was disclosed in a legal filing 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 Monday, August 19th. The shares were sold at an average price of $227.05, for a total transaction of $454,100.00. Following the completion of the sale, the executive vice president now owns 3,670 shares of the company’s stock, valued at approximately $833,273.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,679 shares of company stock worth $6,716,306. Corporate insiders own 0.85% of the company’s stock.

Wall Street Analyst Weigh In

LH has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price objective on Laboratory Co. of America from $261.00 to $243.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. Evercore ISI lifted their price target on shares of Laboratory Co. of America from $210.00 to $215.00 and gave the stock an “in-line” rating in a research note on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Laboratory Co. of America from $220.00 to $230.00 and gave the company a “hold” rating in a report on Friday, August 2nd. Robert W. Baird raised their price objective on shares of Laboratory Co. of America from $261.00 to $277.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, StockNews.com upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Laboratory Co. of America has an average rating of “Moderate Buy” and a consensus target price of $247.42.

Laboratory Co. of America Stock Performance

LH stock traded up $0.71 during trading on Friday, reaching $230.89. 319,299 shares of the company’s stock were exchanged, compared to its average volume of 704,664. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $238.46. The firm has a market cap of $19.46 billion, a PE ratio of 46.46, a P/E/G ratio of 1.76 and a beta of 1.05. The company’s fifty day moving average price is $214.04 and its 200-day moving average price is $210.51. The company has a quick ratio of 0.76, a current ratio of 0.88 and a debt-to-equity ratio of 0.39.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings results on Thursday, August 1st. The medical research company reported $3.94 earnings per share for the quarter, topping analysts’ consensus estimates of $3.78 by $0.16. Laboratory Co. of America had a net margin of 3.60% and a return on equity of 15.39%. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.19 billion. During the same period in the prior year, the business posted $3.42 EPS. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, research analysts expect that Laboratory Co. of America Holdings will post 14.84 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Thursday, August 29th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.25%. The ex-dividend date is Thursday, August 29th. Laboratory Co. of America’s dividend payout ratio is presently 57.95%.

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).