Swiss National Bank Reduces Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Swiss National Bank lessened its stake in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 276,720 shares of the medical research company's stock after selling 8,300 shares during the period. Swiss National Bank owned approximately 0.33% of Laboratory Co. of America worth $62,896,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. grew its position in shares of Laboratory Co. of America by 5.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 25,354 shares of the medical research company's stock valued at $5,097,000 after acquiring an additional 1,237 shares during the period. Daiwa Securities Group Inc. grew its position in shares of Laboratory Co. of America by 6.0% during the 3rd quarter. Daiwa Securities Group Inc. now owns 8,509 shares of the medical research company's stock valued at $1,711,000 after acquiring an additional 484 shares during the period. Alexander Randolph Advisory Inc. bought a new stake in shares of Laboratory Co. of America during the 4th quarter valued at $942,000. Handelsinvest Investeringsforvaltning bought a new stake in shares of Laboratory Co. of America during the 4th quarter valued at $1,091,000. Finally, Cerity Partners LLC grew its position in shares of Laboratory Co. of America by 8.6% during the 4th quarter. Cerity Partners LLC now owns 64,435 shares of the medical research company's stock valued at $14,645,000 after acquiring an additional 5,105 shares during the period. Institutional investors own 95.94% of the company's stock.

Laboratory Co. of America Price Performance

LH stock traded down $0.28 during mid-day trading on Monday, hitting $201.04. The company had a trading volume of 802,517 shares, compared to its average volume of 764,281. The company has a market capitalization of $16.95 billion, a price-to-earnings ratio of 40.45, a P/E/G ratio of 1.51 and a beta of 1.02. Laboratory Co. of America Holdings has a 12-month low of $174.20 and a 12-month high of $234.09. The company has a quick ratio of 0.76, a current ratio of 0.88 and a debt-to-equity ratio of 0.39. The company has a 50-day moving average price of $209.84 and a 200 day moving average price of $214.88.

Laboratory Co. of America (NYSE:LH - Get Free Report) last announced its quarterly earnings results on Thursday, April 25th. The medical research company reported $3.68 EPS for the quarter, topping the consensus estimate of $3.48 by $0.20. The business had revenue of $3.18 billion for the quarter, compared to analysts' expectations of $3.12 billion. Laboratory Co. of America had a net margin of 3.52% and a return on equity of 14.68%. The business's quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.82 EPS. On average, research analysts anticipate that Laboratory Co. of America Holdings will post 14.87 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 Wednesday, June 12th. Stockholders of record on Tuesday, May 28th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Tuesday, May 28th. Laboratory Co. of America's dividend payout ratio is 57.95%.

Insider Activity

In other 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 sale, the executive vice president now directly owns 7,637 shares in the company, valued at approximately $1,695,872.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CMO Amy B. Summy sold 227 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $218.45, for a total value of $49,588.15. Following the sale, the chief marketing officer now directly owns 3,859 shares in the company, valued at $842,998.55. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Der Vaart Sandra D. Van sold 259 shares of the firm's stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $222.06, for a total value of $57,513.54. Following the sale, the executive vice president now directly owns 7,637 shares of the company's stock, valued at $1,695,872.22. The disclosure for this sale can be found here. In the last three months, insiders have sold 57,244 shares of company stock worth $12,360,478. 0.85% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LH. Evercore ISI began coverage on shares of Laboratory Co. of America in a research report on Friday, February 9th. They set an "in-line" rating and a $240.00 price objective for the company. Leerink Partnrs restated an "outperform" rating on shares of Laboratory Co. of America in a research note on Monday, February 26th. Robert W. Baird lowered their target price on shares of Laboratory Co. of America from $255.00 to $244.00 and set an "outperform" rating on the stock in a research note on Friday, April 26th. TheStreet cut shares of Laboratory Co. of America from a "b-" rating to a "c+" rating in a research note on Thursday, February 15th. Finally, Truist Financial lowered their target price on shares of Laboratory Co. of America from $270.00 to $255.00 and set a "buy" rating on the stock in a research note on Friday, April 26th. 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, Laboratory Co. of America currently has a consensus rating of "Moderate Buy" and an average target price of $243.14.

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).