Wedge Capital Management L L P NC Trims Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

Wedge Capital Management L L P NC cut its holdings in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 142,241 shares of the medical research company's stock after selling 6,627 shares during the period. Wedge Capital Management L L P NC owned approximately 0.17% of Laboratory Co. of America worth $32,330,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Foster & Motley Inc. boosted its holdings in Laboratory Co. of America by 4.5% during the fourth quarter. Foster & Motley Inc. now owns 7,184 shares of the medical research company's stock valued at $1,633,000 after acquiring an additional 309 shares during the period. RWA Wealth Partners LLC lifted its stake in shares of Laboratory Co. of America by 20.5% in the fourth quarter. RWA Wealth Partners LLC now owns 3,091 shares of the medical research company's stock valued at $703,000 after buying an additional 525 shares during the period. Duality Advisers LP bought a new stake in shares of Laboratory Co. of America in the fourth quarter valued at about $2,786,000. Handelsbanken Fonder AB lifted its stake in shares of Laboratory Co. of America by 25.1% in the fourth quarter. Handelsbanken Fonder AB now owns 54,553 shares of the medical research company's stock valued at $12,399,000 after buying an additional 10,933 shares during the period. Finally, CWM LLC lifted its stake in shares of Laboratory Co. of America by 4.9% in the fourth quarter. CWM LLC now owns 3,060 shares of the medical research company's stock valued at $696,000 after buying an additional 144 shares during the period. 95.94% of the stock is currently owned by institutional investors.

Insider Transactions at Laboratory Co. of America

In other news, EVP Der Vaart Sandra D. Van sold 237 shares of the business's stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $226.45, for a total transaction of $53,668.65. Following the transaction, the executive vice president now directly owns 7,637 shares in the company, valued at approximately $1,729,398.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Der Vaart Sandra D. Van sold 237 shares of the company's stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $226.45, for a total value of $53,668.65. Following the transaction, the executive vice president now owns 7,637 shares in the company, valued at approximately $1,729,398.65. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CMO Amy B. Summy sold 227 shares of the company's stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $218.45, for a total transaction of $49,588.15. Following the completion of the transaction, 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 have sold 54,305 shares of company stock worth $11,761,059 in the last ninety days. Insiders own 0.85% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on LH shares. SVB Leerink started coverage on shares of Laboratory Co. of America in a research report on Monday, February 26th. They issued an "outperform" rating and a $260.00 price target for the company. TheStreet lowered shares of Laboratory Co. of America from a "b-" rating to a "c+" rating in a report on Thursday, February 15th. Leerink Partnrs reaffirmed an "outperform" rating on shares of Laboratory Co. of America in a report on Monday, February 26th. Evercore ISI assumed coverage on shares of Laboratory Co. of America in a report on Friday, February 9th. They set an "in-line" rating and a $240.00 price objective for the company. Finally, Argus raised shares of Laboratory Co. of America from a "hold" rating to a "buy" rating and set a $250.00 price objective for the company in a report on Monday, March 25th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $243.50.

Laboratory Co. of America Stock Up 0.8 %

Shares of NYSE:LH traded up $1.59 during midday trading on Monday, reaching $203.07. 685,860 shares of the company were exchanged, compared to its average volume of 736,427. Laboratory Co. of America Holdings has a fifty-two week low of $174.20 and a fifty-two week high of $234.09. The company has a quick ratio of 1.02, a current ratio of 1.17 and a debt-to-equity ratio of 0.52. The stock has a fifty day simple moving average of $213.25 and a two-hundred day simple moving average of $214.81. The firm has a market cap of $17.08 billion, a PE ratio of 43.48, a P/E/G ratio of 1.51 and a beta of 1.01.

Laboratory Co. of America (NYSE:LH - Get Free Report) last issued its quarterly earnings results on Thursday, February 15th. The medical research company reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.29 by $0.01. Laboratory Co. of America had a net margin of 3.24% and a return on equity of 13.99%. The firm had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.02 billion. During the same period in the previous year, the business earned $4.14 EPS. The company's revenue was down 17.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Laboratory Co. of America Holdings will post 14.84 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The company also recently disclosed 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 1.42%. Laboratory Co. of America's dividend payout ratio is presently 61.67%.

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).