Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Sector Gamma AS

Sector Gamma AS decreased its holdings in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 21.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,686 shares of the medical research company's stock after selling 14,171 shares during the period. Laboratory Co. of America comprises approximately 2.8% of Sector Gamma AS's portfolio, making the stock its 17th largest position. Sector Gamma AS owned 0.06% of Laboratory Co. of America worth $11,520,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Lathrop Investment Management Corp lifted its position in shares of Laboratory Co. of America by 3.0% during the 4th quarter. Lathrop Investment Management Corp now owns 66,292 shares of the medical research company's stock worth $15,068,000 after purchasing an additional 1,907 shares during the last quarter. White Pine Capital LLC purchased a new stake in shares of Laboratory Co. of America during the 4th quarter worth $236,000. Alexander Randolph Advisory Inc. purchased a new stake in shares of Laboratory Co. of America during the 4th quarter worth $942,000. Headlands Technologies LLC purchased a new stake in shares of Laboratory Co. of America during the 4th quarter worth $80,000. Finally, Bryn Mawr Capital Management LLC lifted its position in shares of Laboratory Co. of America by 50.2% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 966 shares of the medical research company's stock worth $220,000 after purchasing an additional 323 shares during the last quarter. Institutional investors and hedge funds own 95.94% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Evercore ISI assumed coverage on shares of Laboratory Co. of America in a research report on Friday, February 9th. They issued an "in-line" rating and a $240.00 price target for the company. Leerink Partnrs reissued an "outperform" rating on shares of Laboratory Co. of America in a research report on Monday, February 26th. Robert W. Baird reduced their price target on shares of Laboratory Co. of America from $255.00 to $244.00 and set an "outperform" rating for the company in a research report on Friday. TheStreet cut shares of Laboratory Co. of America from a "b-" rating to a "c+" rating in a research report on Thursday, February 15th. Finally, Truist Financial reduced their price target on shares of Laboratory Co. of America from $270.00 to $255.00 and set a "buy" rating for the company in a research report on Friday. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $243.14.

Insider Transactions at Laboratory Co. of America

In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 259 shares of the company's stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $222.06, for a total transaction of $57,513.54. Following the transaction, the executive vice president now directly owns 7,637 shares in the company, valued at $1,695,872.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 259 shares of the company's stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $222.06, for a total transaction of $57,513.54. Following the transaction, the executive vice president now directly owns 7,637 shares in the company, valued at $1,695,872.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Mark S. Schroeder sold 5,048 shares of the company's stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $218.45, for a total transaction of $1,102,735.60. Following the transaction, the chief operating officer now owns 5,036 shares in the company, valued at $1,100,114.20. The disclosure for this sale can be found here. Insiders have sold a total of 54,305 shares of company stock worth $11,761,059 over the last ninety days. 0.85% of the stock is currently owned by company insiders.

Laboratory Co. of America Stock Performance

Shares of Laboratory Co. of America stock traded up $0.05 on Friday, reaching $198.40. 931,317 shares of the stock were exchanged, compared to its average volume of 745,511. Laboratory Co. of America Holdings has a 1-year low of $174.20 and a 1-year high of $234.09. The company has a current ratio of 0.88, a quick ratio of 1.02 and a debt-to-equity ratio of 0.39. The business has a fifty day moving average price of $211.70 and a two-hundred day moving average price of $214.75. The firm has a market capitalization of $16.69 billion, a PE ratio of 39.92, a PEG ratio of 1.49 and a beta of 1.01.

Laboratory Co. of America (NYSE:LH - Get Free Report) last issued its quarterly earnings results on Thursday, April 25th. The medical research company reported $3.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same period in the previous year, the business posted $3.82 earnings per share. The business's revenue was up 4.6% compared to the same quarter last year. As a group, research analysts anticipate that Laboratory Co. of America Holdings will post 14.84 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The company 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 is Friday, May 24th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.45%. Laboratory Co. of America's dividend payout ratio (DPR) is 57.95%.

About Laboratory Co. of America

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).