Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Foster & Motley Inc.

Foster & Motley Inc. trimmed its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 4.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,022 shares of the medical research company’s stock after selling 339 shares during the period. Foster & Motley Inc.’s holdings in Laboratory Co. of America were worth $1,429,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Merit Financial Group LLC boosted its holdings in shares of Laboratory Co. of America by 10.1% in the fourth quarter. Merit Financial Group LLC now owns 1,148 shares of the medical research company’s stock worth $261,000 after buying an additional 105 shares during the period. Summit Trail Advisors LLC grew its position in Laboratory Co. of America by 7.3% during the 4th quarter. Summit Trail Advisors LLC now owns 1,081 shares of the medical research company’s stock worth $246,000 after purchasing an additional 74 shares in the last quarter. Private Advisor Group LLC raised its stake in Laboratory Co. of America by 10.1% during the 4th quarter. Private Advisor Group LLC now owns 6,782 shares of the medical research company’s stock valued at $1,541,000 after purchasing an additional 624 shares during the period. Lincoln National Corp purchased a new stake in shares of Laboratory Co. of America in the fourth quarter valued at $302,000. Finally, Everpar Advisors LLC acquired a new stake in shares of Laboratory Co. of America in the fourth quarter worth $212,000. Institutional investors and hedge funds own 95.94% of the company’s stock.

Laboratory Co. of America Stock Down 0.3 %

LH stock opened at $227.34 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39. The firm has a market cap of $19.16 billion, a PE ratio of 45.74, a PEG ratio of 1.77 and a beta of 1.05. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $238.46. The company has a fifty day simple moving average of $218.33 and a 200 day simple moving average of $211.08.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings results on Thursday, August 1st. The medical research company reported $3.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.78 by $0.16. Laboratory Co. of America had a return on equity of 15.39% and a net margin of 3.60%. The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same quarter in the prior year, the company posted $3.42 EPS. The firm’s revenue was up 6.2% on a year-over-year basis. Sell-side analysts anticipate that Laboratory Co. of America Holdings will post 14.67 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 29th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Thursday, August 29th. Laboratory Co. of America’s dividend payout ratio is 57.95%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. StockNews.com raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. UBS Group increased their price target on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Barclays boosted their price objective on shares of Laboratory Co. of America from $213.00 to $249.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Robert W. Baird upped their price objective on shares of Laboratory Co. of America from $261.00 to $277.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Laboratory Co. of America from $220.00 to $230.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $247.42.

Insider Transactions at Laboratory Co. of America

In related news, Director Kerrii B. Anderson sold 586 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $225.00, for a total value of $131,850.00. Following the transaction, the director now directly owns 14,722 shares in the company, valued at approximately $3,312,450. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Kerrii B. Anderson sold 586 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $225.00, for a total transaction of $131,850.00. Following the completion of the sale, the director now owns 14,722 shares in the company, valued at approximately $3,312,450. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Glenn A. Eisenberg sold 15,000 shares of Laboratory Co. of America stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $223.99, for a total value of $3,359,850.00. Following the completion of the transaction, the chief financial officer now directly owns 31,289 shares in the company, valued at $7,008,423.11. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,679 shares of company stock worth $6,716,306. 0.85% of the stock is owned by insiders.

Laboratory Co. of America Company 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 (Dx) and Biopharma Laboratory Services (BLS).