Leeward Investments LLC MA Sells 1,967 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Leeward Investments LLC MA trimmed its position in Laboratory Co. of America Holdings (NYSE:LH) by 2.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 73,456 shares of the medical research company’s stock after selling 1,967 shares during the period. Leeward Investments LLC MA’s holdings in Laboratory Co. of America were worth $16,696,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP raised its stake in Laboratory Co. of America by 20.6% during the 3rd quarter. Wellington Management Group LLP now owns 2,487,106 shares of the medical research company’s stock worth $500,033,000 after buying an additional 424,684 shares during the period. Morgan Stanley raised its stake in shares of Laboratory Co. of America by 102.6% in the 3rd quarter. Morgan Stanley now owns 2,219,291 shares of the medical research company’s stock valued at $446,189,000 after purchasing an additional 1,123,755 shares during the period. Lazard Asset Management LLC raised its stake in shares of Laboratory Co. of America by 28.0% in the 3rd quarter. Lazard Asset Management LLC now owns 2,212,497 shares of the medical research company’s stock valued at $444,821,000 after purchasing an additional 483,878 shares during the period. Diamond Hill Capital Management Inc. increased its position in shares of Laboratory Co. of America by 644.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 1,280,884 shares of the medical research company’s stock valued at $257,522,000 after acquiring an additional 1,108,776 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Laboratory Co. of America by 12.6% in the third quarter. Northern Trust Corp now owns 1,129,759 shares of the medical research company’s stock valued at $227,138,000 after acquiring an additional 126,602 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Robert W. Baird lowered their target price on Laboratory Co. of America from $255.00 to $244.00 and set an “outperform” rating on the stock in a research report on Friday. SVB Leerink assumed coverage on Laboratory Co. of America in a report on Monday, February 26th. They set an “outperform” rating and a $260.00 price objective for the company. Barclays reduced their price objective on Laboratory Co. of America from $234.00 to $213.00 and set an “equal weight” rating for the company in a report on Friday. Truist Financial reduced their price objective on Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating for the company in a report on Friday. Finally, TheStreet cut Laboratory Co. of America from a “b-” rating to a “c+” rating in a research note on Thursday, February 15th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $243.14.

Insider Transactions at Laboratory Co. of America

In related news, CMO Amy B. Summy sold 227 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 $49,588.15. Following the completion of the transaction, the chief marketing officer now directly owns 3,859 shares of the company’s stock, valued at approximately $842,998.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Laboratory Co. of America news, CMO Amy B. Summy sold 3,500 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $217.29, for a total value of $760,515.00. Following the completion of the transaction, the chief marketing officer now directly owns 3,975 shares of the company’s stock, valued at approximately $863,727.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CMO Amy B. Summy sold 227 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $218.45, for a total transaction of $49,588.15. Following the sale, the chief marketing officer now owns 3,859 shares in the company, valued at approximately $842,998.55. The disclosure for this sale can be found here. Insiders sold a total of 54,305 shares of company stock worth $11,761,059 in the last quarter. Insiders own 0.85% of the company’s stock.

Laboratory Co. of America Trading Up 0.0 %

LH opened at $198.40 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.88 and a quick ratio of 1.02. Laboratory Co. of America Holdings has a fifty-two week low of $174.20 and a fifty-two week high of $234.09. The firm has a market capitalization of $16.69 billion, a PE ratio of 39.92, a P/E/G ratio of 1.49 and a beta of 1.01. The company’s 50-day moving average is $211.70 and its 200 day moving average is $214.66.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings data on Thursday, April 25th. The medical research company reported $3.68 EPS for the quarter, beating the consensus estimate of $3.46 by $0.22. Laboratory Co. of America had a net margin of 3.52% and a return on equity of 14.68%. The firm had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same quarter last year, the business posted $3.82 EPS. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. As a group, research analysts predict that Laboratory Co. of America Holdings will post 14.84 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 28th will be paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, May 24th. This represents a $2.88 annualized dividend and a dividend yield of 1.45%. Laboratory Co. of America’s payout ratio is currently 57.95%.

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).