Wealth Alliance Has $271,000 Stake in Laboratory Co. of America Holdings (NYSE:LH)

Wealth Alliance trimmed its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 14.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,191 shares of the medical research company’s stock after selling 194 shares during the quarter. Wealth Alliance’s holdings in Laboratory Co. of America were worth $271,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Provence Wealth Management Group acquired a new position in Laboratory Co. of America during the third quarter worth $29,000. Mendota Financial Group LLC acquired a new stake in shares of Laboratory Co. of America in the fourth quarter valued at about $29,000. Eagle Bay Advisors LLC acquired a new stake in shares of Laboratory Co. of America in the second quarter valued at about $29,000. Tradewinds Capital Management LLC acquired a new stake in shares of Laboratory Co. of America in the third quarter valued at about $34,000. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Laboratory Co. of America in the third quarter valued at about $37,000. 95.94% of the stock is owned by institutional investors and hedge funds.

Laboratory Co. of America Stock Down 0.3 %

Shares of LH opened at $199.44 on Friday. The stock has a market cap of $16.78 billion, a price-to-earnings ratio of 42.71, a P/E/G ratio of 1.50 and a beta of 1.01. The company has a quick ratio of 1.02, a current ratio of 1.17 and a debt-to-equity ratio of 0.52. Laboratory Co. of America Holdings has a 12 month low of $174.20 and a 12 month high of $234.09. The company has a 50-day moving average price of $214.16 and a two-hundred day moving average price of $214.58.

Laboratory Co. of America (NYSE:LH) last posted its earnings results on Thursday, February 15th. The medical research company reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.29 by $0.01. Laboratory Co. of America had a net margin of 3.24% and a return on equity of 13.99%. The company had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3.02 billion. During the same quarter in the previous year, the company posted $4.14 earnings per share. Laboratory Co. of America’s quarterly revenue was down 17.5% compared to the same quarter last year. Equities analysts predict that Laboratory Co. of America Holdings will post 14.84 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 28th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend is Friday, May 24th. Laboratory Co. of America’s dividend payout ratio (DPR) is currently 61.67%.

Wall Street Analyst Weigh In

LH has been the topic of several research analyst reports. Barclays initiated coverage on Laboratory Co. of America in a research report on Wednesday, January 3rd. They issued an “equal weight” rating and a $222.00 price target on the stock. Evercore ISI initiated coverage on Laboratory Co. of America in a research report on Friday, February 9th. They issued an “in-line” rating and a $240.00 price target on the stock. Leerink Partnrs reaffirmed an “outperform” rating on shares of Laboratory Co. of America in a research report on Monday, February 26th. TheStreet downgraded Laboratory Co. of America from a “b-” rating to a “c+” rating in a research report on Thursday, February 15th. Finally, Argus raised Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 target price on the stock in a research report on Monday, March 25th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $243.50.

Insider Activity

In other news, EVP Der Vaart Sandra D. Van sold 237 shares of Laboratory Co. of America stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $226.45, for a total value of $53,668.65. Following the completion of the transaction, the executive vice president now owns 7,637 shares in the company, valued at $1,729,398.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Mark S. Schroeder sold 5,048 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $218.45, for a total value of $1,102,735.60. Following the completion of the sale, the chief operating officer now owns 5,036 shares of the company’s stock, valued at $1,100,114.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Der Vaart Sandra D. Van sold 237 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $226.45, for a total transaction of $53,668.65. Following the completion of the sale, the executive vice president now directly owns 7,637 shares of the company’s stock, valued at approximately $1,729,398.65. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,305 shares of company stock worth $11,761,059. Insiders own 0.85% of the company’s stock.

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 (Dx) and Biopharma Laboratory Services (BLS).