National Bank of Canada FI Reduces Stock Holdings in Laboratory Co. of America Holdings (NYSE:LH)

National Bank of Canada FI cut its stake in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 12.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,802 shares of the medical research company's stock after selling 6,800 shares during the quarter. National Bank of Canada FI owned 0.06% of Laboratory Co. of America worth $10,976,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Mendota Financial Group LLC bought a new stake in Laboratory Co. of America in the fourth quarter valued at $29,000. Provence Wealth Management Group bought a new stake in Laboratory Co. of America in the 3rd quarter valued at about $29,000. Tradewinds Capital Management LLC bought a new position in Laboratory Co. of America in the third quarter worth approximately $34,000. Bruce G. Allen Investments LLC bought a new stake in shares of Laboratory Co. of America during the fourth quarter valued at approximately $60,000. Finally, Disciplined Equity Management Inc. acquired a new position in shares of Laboratory Co. of America during the fourth quarter worth approximately $68,000. Institutional investors own 95.94% of the company's stock.

Laboratory Co. of America Stock Up 2.2 %

NYSE LH traded up $4.48 during trading hours on Thursday, reaching $206.09. 813,676 shares of the company's stock traded hands, compared to its average volume of 760,930. Laboratory Co. of America Holdings has a 52-week low of $174.20 and a 52-week high of $234.09. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.88 and a quick ratio of 0.76. The firm has a 50-day simple moving average of $209.09 and a 200 day simple moving average of $214.74. The firm has a market cap of $17.37 billion, a PE ratio of 41.47, a PEG ratio of 1.51 and a beta of 1.02.

Laboratory Co. of America (NYSE:LH - Get Free Report) last released its earnings results on Thursday, April 25th. The medical research company reported $3.68 EPS for the quarter, topping analysts' consensus estimates of $3.48 by $0.20. The firm had revenue of $3.18 billion for the quarter, compared to analysts' expectations of $3.12 billion. Laboratory Co. of America had a return on equity of 14.68% and a net margin of 3.52%. The company's quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm posted $3.82 earnings per share. Sell-side analysts anticipate that Laboratory Co. of America Holdings will post 14.87 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Tuesday, May 28th will be issued a $0.72 dividend. The ex-dividend date is Tuesday, May 28th. This represents a $2.88 annualized dividend and a yield of 1.40%. Laboratory Co. of America's payout ratio is 57.95%.

Analyst Ratings Changes

LH has been the subject of several analyst reports. Barclays decreased their price objective on shares of Laboratory Co. of America from $234.00 to $213.00 and set an "equal weight" rating for the company in a research note on Friday, April 26th. Leerink Partnrs reaffirmed an "outperform" rating on shares of Laboratory Co. of America in a research report on Monday, February 26th. Evercore ISI initiated 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 target price for the company. Truist Financial lowered their price target on shares of Laboratory Co. of America from $270.00 to $255.00 and set a "buy" rating on the stock in a report on Friday, April 26th. Finally, Robert W. Baird reduced their price objective on Laboratory Co. of America from $255.00 to $244.00 and set an "outperform" rating for the company in a report on Friday, April 26th. Four 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 presently has an average rating of "Moderate Buy" and an average target price of $243.14.

Insider Buying and Selling at Laboratory Co. of America

In related news, EVP Der Vaart Sandra D. Van sold 237 shares of the firm's stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $226.45, for a total value of $53,668.65. Following the sale, the executive vice president now owns 7,637 shares in the company, valued at $1,729,398.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Jonathan P. Divincenzo sold 500 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $215.49, for a total value of $107,745.00. Following the transaction, the executive vice president now owns 3,401 shares in the company, valued at approximately $732,881.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Der Vaart Sandra D. Van sold 237 shares of the business's stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $226.45, for a total transaction of $53,668.65. Following the sale, the executive vice president now owns 7,637 shares of the company's stock, valued at $1,729,398.65. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,985 shares of company stock worth $12,302,964. Company insiders own 0.85% of the company's stock.

Laboratory Co. of America Company 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).