Amalgamated Bank Sells 638 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Amalgamated Bank trimmed its position in Laboratory Co. of America Holdings (NYSE:LH) by 3.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 16,501 shares of the medical research company’s stock after selling 638 shares during the quarter. Amalgamated Bank’s holdings in Laboratory Co. of America were worth $3,688,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of LH. Price T Rowe Associates Inc. MD increased its holdings in shares of Laboratory Co. of America by 2.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 114,488 shares of the medical research company’s stock valued at $25,012,000 after acquiring an additional 2,934 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Laboratory Co. of America by 17.0% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 101,019 shares of the medical research company’s stock worth $22,069,000 after buying an additional 14,708 shares during the period. SG Americas Securities LLC grew its holdings in shares of Laboratory Co. of America by 283.1% during the first quarter. SG Americas Securities LLC now owns 23,217 shares of the medical research company’s stock valued at $5,072,000 after buying an additional 17,156 shares during the last quarter. Great Valley Advisor Group Inc. acquired a new position in shares of Laboratory Co. of America in the 2nd quarter valued at $473,000. Finally, CANADA LIFE ASSURANCE Co raised its stake in Laboratory Co. of America by 18.9% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 150,046 shares of the medical research company’s stock worth $32,802,000 after acquiring an additional 23,860 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Laboratory Co. of America Stock Up 1.4 %

Shares of LH opened at $242.39 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66. The firm has a market cap of $20.27 billion, a P/E ratio of 46.88, a PEG ratio of 1.93 and a beta of 1.05. The stock’s 50 day moving average is $223.02 and its two-hundred day moving average is $214.30. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $243.78.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.48 by $0.02. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.26 billion. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter last year, the company earned $3.38 EPS. Analysts predict that Laboratory Co. of America Holdings will post 14.53 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, November 26th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend is Tuesday, November 26th. Laboratory Co. of America’s dividend payout ratio is presently 55.71%.

Insider Buying and Selling

In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $227.05, for a total transaction of $454,100.00. Following the transaction, the executive vice president now directly owns 3,670 shares in the company, valued at $833,273.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 15,000 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 31,289 shares in the company, valued at $7,008,423.11. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Der Vaart Sandra D. Van sold 2,000 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $227.05, for a total value of $454,100.00. Following the sale, the executive vice president now directly owns 3,670 shares in the company, valued at $833,273.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,000 shares of company stock valued at $4,043,950. Company insiders own 0.85% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. StockNews.com lowered Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Friday, October 25th. HSBC raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Piper Sandler upped their price objective on shares of Laboratory Co. of America from $235.00 to $240.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Barclays raised their target price on shares of Laboratory Co. of America from $234.00 to $249.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Finally, Evercore ISI lowered their price target on shares of 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. 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $255.92.

Laboratory Co. of America Company 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.