Iridian Asset Management LLC CT Sells 9,393 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Iridian Asset Management LLC CT lessened its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 29.7% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 22,216 shares of the medical research company’s stock after selling 9,393 shares during the period. Laboratory Co. of America comprises approximately 1.1% of Iridian Asset Management LLC CT’s holdings, making the stock its 27th biggest position. Iridian Asset Management LLC CT’s holdings in Laboratory Co. of America were worth $4,965,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its holdings in Laboratory Co. of America by 3.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 16,581 shares of the medical research company’s stock valued at $3,622,000 after purchasing an additional 550 shares during the period. First Trust Direct Indexing L.P. raised its stake in Laboratory Co. of America by 2.4% during the 1st quarter. First Trust Direct Indexing L.P. now owns 4,291 shares of the medical research company’s stock worth $937,000 after acquiring an additional 100 shares during the period. Tempus Wealth Planning LLC lifted its holdings in Laboratory Co. of America by 8.9% during the first quarter. Tempus Wealth Planning LLC now owns 1,616 shares of the medical research company’s stock valued at $353,000 after purchasing an additional 132 shares in the last quarter. American National Bank & Trust Co. VA bought a new position in shares of Laboratory Co. of America in the first quarter worth approximately $284,000. Finally, Sequoia Financial Advisors LLC increased its stake in shares of Laboratory Co. of America by 54.6% in the first quarter. Sequoia Financial Advisors LLC now owns 135,161 shares of the medical research company’s stock worth $29,527,000 after purchasing an additional 47,744 shares in the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Stock Performance

Laboratory Co. of America stock opened at $230.56 on Thursday. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $239.50. The company has a market capitalization of $19.36 billion, a PE ratio of 44.60, a P/E/G ratio of 1.77 and a beta of 1.05. The company has a 50 day moving average price of $222.71 and a 200-day moving average price of $212.87. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.44.

Laboratory Co. of America (NYSE:LH) last issued its earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share for the quarter, beating analysts’ consensus estimates of $3.48 by $0.02. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same period in the previous year, the company posted $3.38 EPS. Laboratory Co. of America’s revenue was up 7.4% on a year-over-year basis. As a group, equities analysts forecast that Laboratory Co. of America Holdings will post 14.53 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, November 26th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Tuesday, November 26th. Laboratory Co. of America’s payout ratio is 55.71%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Piper Sandler lifted their target price on shares of Laboratory Co. of America from $235.00 to $240.00 and gave the company a “neutral” rating in a research note on Monday. Bank of America boosted their price objective on Laboratory Co. of America from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Evercore ISI cut their target price on Laboratory Co. of America from $250.00 to $240.00 and set an “in-line” rating for the company in a research report on Tuesday, September 24th. StockNews.com cut Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Finally, Jefferies Financial Group increased their price objective on shares of Laboratory Co. of America from $245.00 to $265.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Five 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $253.92.

Insider Buying and Selling at Laboratory Co. of America

In other news, Director Kerrii B. Anderson sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $230.00, for a total value of $230,000.00. Following the completion of the sale, the director now owns 13,722 shares of the company’s stock, valued at approximately $3,156,060. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Kerrii B. Anderson sold 1,000 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $230.00, for a total value of $230,000.00. Following the completion of the transaction, the director now directly owns 13,722 shares of the company’s stock, valued at approximately $3,156,060. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Lance Berberian sold 12,093 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $229.10, for a total value of $2,770,506.30. Following the sale, the executive vice president now owns 15,921 shares of the company’s stock, valued at $3,647,501.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,679 shares of company stock valued at $6,946,306. Company insiders own 0.85% of the company’s stock.

Laboratory Co. of America Profile

Labcorp Holdings Inc provides laboratory services. It operates through two segments, Diagnostics Laboratories and Biopharma Laboratory Services. The company offers various tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid, PAP, hemoglobin A1C and vitamin D, prostate-specific antigens, sexually transmitted diseases, hepatitis C, microbiology cultures and procedures, and alcohol and other substance-abuse tests.