Advisors Asset Management Inc. Sells 54 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Advisors Asset Management Inc. cut its position in Laboratory Co. of America Holdings (NYSE:LH) by 2.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,590 shares of the medical research company’s stock after selling 54 shares during the quarter. Advisors Asset Management Inc.’s holdings in Laboratory Co. of America were worth $579,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its stake in shares of Laboratory Co. of America by 2.6% during the 1st 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 purchasing an additional 2,934 shares during the period. B. Riley Wealth Advisors Inc. raised its stake in shares of Laboratory Co. of America by 13.7% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 3,433 shares of the medical research company’s stock valued at $690,000 after purchasing an additional 414 shares during the period. Tidal Investments LLC raised its stake in shares of Laboratory Co. of America by 10.4% during the 1st quarter. Tidal Investments LLC now owns 6,341 shares of the medical research company’s stock valued at $1,385,000 after purchasing an additional 596 shares during the period. Comerica Bank raised its stake in shares of Laboratory Co. of America by 2.8% during the 1st quarter. Comerica Bank now owns 47,384 shares of the medical research company’s stock valued at $10,352,000 after purchasing an additional 1,289 shares during the period. Finally, Wahed Invest LLC raised its stake in shares of Laboratory Co. of America by 14.1% during the 1st quarter. Wahed Invest LLC now owns 1,646 shares of the medical research company’s stock valued at $360,000 after purchasing an additional 203 shares during the period. 95.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, CMO Amy B. Summy sold 3,672 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $238.91, for a total transaction of $877,277.52. Following the completion of the transaction, the chief marketing officer now owns 4,318 shares of the company’s stock, valued at $1,031,613.38. This represents a 45.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Adam H. Schechter sold 6,189 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $243.47, for a total value of $1,506,835.83. Following the transaction, the chief executive officer now directly owns 87,441 shares of the company’s stock, valued at $21,289,260.27. The trade was a 6.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,861 shares of company stock valued at $2,853,533 in the last 90 days. Insiders own 0.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on LH. HSBC upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. UBS Group boosted their target price on Laboratory Co. of America from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Bank of America boosted their target price on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Piper Sandler boosted their target price on Laboratory Co. of America from $235.00 to $240.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Laboratory Co. of America from $220.00 to $230.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Laboratory Co. of America has a consensus rating of “Moderate Buy” and a consensus price target of $255.92.

Laboratory Co. of America Trading Up 1.4 %

NYSE LH opened at $242.18 on Thursday. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $247.99. 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 stock has a 50-day moving average of $226.97 and a 200-day moving average of $217.78. The firm has a market cap of $20.26 billion, a PE ratio of 46.84, a price-to-earnings-growth ratio of 1.99 and a beta of 1.05.

Laboratory Co. of America (NYSE:LH) last released its earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share for the quarter, beating analysts’ consensus estimates of $3.48 by $0.02. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same quarter in the previous year, the company posted $3.38 EPS. Laboratory Co. of America’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, sell-side analysts forecast that Laboratory Co. of America Holdings will post 14.53 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The firm 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 yield of 1.19%. The ex-dividend date is Tuesday, November 26th. Laboratory Co. of America’s payout ratio is 55.71%.

About Laboratory Co. of America

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.