Charles Schwab Investment Management Inc. Trims Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Charles Schwab Investment Management Inc. trimmed its position in Laboratory Co. of America Holdings (NYSE:LHFree Report) by 0.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 518,127 shares of the medical research company’s stock after selling 3,706 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.61% of Laboratory Co. of America worth $117,765,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of LH. Provence Wealth Management Group purchased a new position in Laboratory Co. of America during the third quarter valued at approximately $29,000. Mendota Financial Group LLC purchased a new position in Laboratory Co. of America during the fourth quarter valued at approximately $29,000. Bruce G. Allen Investments LLC acquired a new stake in Laboratory Co. of America in the fourth quarter valued at approximately $60,000. Disciplined Equity Management Inc. acquired a new stake in Laboratory Co. of America in the fourth quarter valued at approximately $68,000. Finally, Oakworth Capital Inc. grew its holdings in Laboratory Co. of America by 48.1% in the fourth quarter. Oakworth Capital Inc. now owns 308 shares of the medical research company’s stock valued at $70,000 after purchasing an additional 100 shares during the period. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Laboratory Co. of America news, CAO Peter J. Wilkinson sold 2,439 shares of Laboratory Co. of America stock in a transaction on Monday, April 29th. The stock was sold at an average price of $204.33, for a total value of $498,360.87. Following the sale, the chief accounting officer now owns 2,087 shares in the company, valued at $426,436.71. The transaction 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 Laboratory Co. of America stock in a transaction on Monday, April 29th. The stock was sold at an average price of $204.33, for a total value of $498,360.87. Following the sale, the chief accounting officer now owns 2,087 shares in the company, valued at $426,436.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Der Vaart Sandra D. Van sold 237 shares of Laboratory Co. of America stock in a transaction 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 sale, the executive vice president now owns 7,637 shares in the company, valued at approximately $1,729,398.65. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,985 shares of company stock worth $12,302,964. 0.85% of the stock is owned by corporate insiders.

Laboratory Co. of America Stock Performance

Shares of Laboratory Co. of America stock opened at $207.67 on Friday. Laboratory Co. of America Holdings has a one year low of $174.20 and a one year high of $234.09. The company has a market cap of $17.51 billion, a price-to-earnings ratio of 41.78, a PEG ratio of 1.56 and a beta of 1.02. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.76 and a current ratio of 0.88. The business’s 50 day moving average price is $208.89 and its 200 day moving average price is $214.81.

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

Laboratory Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Tuesday, May 28th will be given a dividend of $0.72 per share. The ex-dividend date is Friday, May 24th. This represents a $2.88 dividend on an annualized basis and a yield of 1.39%. Laboratory Co. of America’s payout ratio is 57.95%.

Wall Street Analysts Forecast Growth

LH has been the topic of several research analyst reports. TheStreet lowered Laboratory Co. of America from a “b-” rating to a “c+” rating in a report on Thursday, February 15th. Truist Financial dropped their price objective on Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Barclays dropped their price objective on Laboratory Co. of America from $234.00 to $213.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Evercore ISI initiated coverage on Laboratory Co. of America in a report on Friday, February 9th. They issued an “in-line” rating and a $240.00 price objective on the stock. Finally, Argus raised Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 price objective on the stock in a 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $243.14.

Check Out Our Latest Stock Report on Laboratory Co. of America

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).

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

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