Cambiar Investors LLC Cuts Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Cambiar Investors LLC reduced its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 1.6% during the third quarter, Holdings Channel.com reports. The firm owned 275,642 shares of the medical research company’s stock after selling 4,521 shares during the period. Laboratory Co. of America accounts for about 2.4% of Cambiar Investors LLC’s portfolio, making the stock its 4th biggest position. Cambiar Investors LLC’s holdings in Laboratory Co. of America were worth $61,600,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of LH. Industrial Alliance Investment Management Inc. bought a new stake in shares of Laboratory Co. of America during the second quarter valued at about $27,000. Horizon Bancorp Inc. IN acquired a new position in Laboratory Co. of America during the third quarter worth about $29,000. Pathway Financial Advisers LLC acquired a new position in Laboratory Co. of America during the first quarter worth about $30,000. Innealta Capital LLC acquired a new position in Laboratory Co. of America during the second quarter worth about $32,000. Finally, Family Firm Inc. acquired a new position in Laboratory Co. of America during the second quarter worth about $37,000. 95.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

LH has been the topic of a number of research analyst reports. Evercore ISI lowered their target price on Laboratory Co. of America from $250.00 to $240.00 and set an “in-line” rating on the stock in a report on Tuesday, September 24th. Truist Financial lifted their target price on Laboratory Co. of America from $255.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Bank of America lifted their price target on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. StockNews.com cut Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Finally, Barclays lifted their price target on Laboratory Co. of America from $234.00 to $249.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $255.92.

Insider Activity

In other news, EVP Der Vaart Sandra D. Van sold 2,000 shares of Laboratory Co. of America stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $227.05, for a total transaction of $454,100.00. Following the completion of the sale, the executive vice president now directly owns 3,670 shares in the company, valued at $833,273.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 15,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $223.99, for a total transaction of $3,359,850.00. Following the completion of the transaction, the chief financial officer now owns 31,289 shares of the company’s stock, valued at $7,008,423.11. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Der Vaart Sandra D. Van sold 2,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $227.05, for a total value of $454,100.00. Following the completion of the sale, the executive vice president now directly owns 3,670 shares in the company, valued at approximately $833,273.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,679 shares of company stock worth $6,946,306 in the last three months. 0.85% of the stock is owned by insiders.

Laboratory Co. of America Trading Down 0.5 %

NYSE:LH opened at $227.10 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.44 and a quick ratio of 1.30. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $239.50. The stock’s 50-day moving average is $222.59 and its two-hundred day moving average is $213.14. The stock has a market cap of $18.99 billion, a PE ratio of 43.93, a price-to-earnings-growth ratio of 1.90 and a beta of 1.05.

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

Laboratory Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, November 26th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $2.88 annualized dividend and a dividend yield of 1.27%. Laboratory Co. of America’s dividend payout ratio is 55.71%.

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.