Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC decreased its stake in shares of Laboratory Co. of America Holdings (NYSE:LHFree Report) by 4.4% during the fourth quarter, HoldingsChannel reports. The firm owned 51,735 shares of the medical research company’s stock after selling 2,375 shares during the quarter. Gabelli Funds LLC’s holdings in Laboratory Co. of America were worth $11,759,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of LH. Provence Wealth Management Group acquired a new stake in shares of Laboratory Co. of America in 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 worth $29,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Laboratory Co. of America in the fourth quarter worth $60,000. Disciplined Equity Management Inc. acquired a new stake in shares of Laboratory Co. of America in the fourth quarter worth $68,000. Finally, Oakworth Capital Inc. increased its stake in shares of 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 worth $70,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 95.94% of the company’s stock.

Laboratory Co. of America Stock Up 0.2 %

Shares of NYSE LH opened at $198.42 on Friday. The company’s 50-day simple moving average is $204.05 and its 200-day simple moving average is $214.38. Laboratory Co. of America Holdings has a 52-week low of $180.81 and a 52-week high of $234.09. The firm has a market cap of $16.73 billion, a price-to-earnings ratio of 39.92, a price-to-earnings-growth ratio of 1.49 and a beta of 1.04. 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:LHGet Free Report) last announced its earnings results on Thursday, April 25th. The medical research company reported $3.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.48 by $0.20. Laboratory Co. of America had a net margin of 3.52% and a return on equity of 14.68%. The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same quarter last year, the business earned $3.82 earnings per share. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. Equities analysts predict that Laboratory Co. of America Holdings will post 14.87 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The firm also recently declared 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 of this dividend is Friday, May 24th. This represents a $2.88 dividend on an annualized basis and a yield of 1.45%. Laboratory Co. of America’s payout ratio is presently 57.95%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on LH. Truist Financial cut their price objective on shares of Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. SVB Leerink initiated coverage on shares of Laboratory Co. of America in a research note on Monday, February 26th. They issued an “outperform” rating and a $260.00 price objective on the stock. Evercore ISI initiated coverage on shares of Laboratory Co. of America in a research report on Friday, February 9th. They set an “in-line” rating and a $240.00 price target on the stock. StockNews.com lowered shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, TheStreet lowered shares of Laboratory Co. of America from a “b-” rating to a “c+” rating in a research report on Thursday, February 15th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $241.86.

Read Our Latest Stock Report on LH

Insider Buying and Selling

In related 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 transaction of $421,660.00. Following the transaction, the executive vice president now directly owns 5,637 shares in the company, valued at $1,188,448.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 3,553 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $216.74, for a total value of $770,077.22. Following the transaction, the executive vice president now directly owns 7,637 shares in the company, valued at approximately $1,655,243.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 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. Over the last three months, insiders have sold 18,469 shares of company stock worth $3,959,058. 0.85% of the stock is owned by insiders.

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).

Further Reading

Want to see what other hedge funds are holding LH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Laboratory Co. of America Holdings (NYSE:LHFree Report).

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

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