Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Level Four Advisory Services LLC

Level Four Advisory Services LLC reduced its holdings in Laboratory Co. of America Holdings (NYSE:LH – Free Report) by 13.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,188 shares of the medical research company’s stock after selling 187 shares during the quarter. Level Four Advisory Services LLC’s holdings in Laboratory Co. of America were worth $273,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Blair William & Co. IL grew its holdings in shares of Laboratory Co. of America by 3.5% during the first quarter. Blair William & Co. IL now owns 9,288 shares of the medical research company’s stock worth $2,131,000 after buying an additional 311 shares in the last quarter. Gabelli Funds LLC raised its holdings in Laboratory Co. of America by 0.4% in the 4th quarter. Gabelli Funds LLC now owns 54,270 shares of the medical research company’s stock valued at $12,780,000 after acquiring an additional 200 shares during the last quarter. Hartford Investment Management Co. lifted its stake in shares of Laboratory Co. of America by 16.9% during the 1st quarter. Hartford Investment Management Co. now owns 7,490 shares of the medical research company’s stock worth $1,718,000 after purchasing an additional 1,081 shares during the period. SVB Wealth LLC acquired a new stake in shares of Laboratory Co. of America during the fourth quarter worth $253,000. Finally, State of Michigan Retirement System lifted its position in Laboratory Co. of America by 0.8% during the first quarter. State of Michigan Retirement System now owns 26,387 shares of the medical research company’s stock worth $6,054,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 89.37% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Der Vaart Sandra D. Van sold 212 shares of the stock in a transaction that occurred on Thursday, June 29th. The stock was sold at an average price of $240.00, for a total value of $50,880.00. Following the completion of the sale, the executive vice president now directly owns 7,605 shares of the company’s stock, valued at $1,825,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Der Vaart Sandra D. Van sold 212 shares of the stock in a transaction on Thursday, June 29th. The shares were sold at an average price of $240.00, for a total value of $50,880.00. Following the completion of the transaction, the executive vice president now owns 7,605 shares in the company, valued at approximately $1,825,200. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Kerrii B. Anderson sold 5,000 shares of Laboratory Co. of America stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $211.57, for a total transaction of $1,057,850.00. Following the sale, the director now owns 15,275 shares in the company, valued at $3,231,731.75. The disclosure for this sale can be found here. Company insiders own 0.65% of the company’s stock.

Laboratory Co. of America Price Performance

Shares of NYSE:LH opened at $201.17 on Tuesday. The business has a fifty day simple moving average of $212.29 and a 200 day simple moving average of $220.17. The company has a current ratio of 2.35, a quick ratio of 2.12 and a debt-to-equity ratio of 0.58. Laboratory Co. of America Holdings has a 1 year low of $166.93 and a 1 year high of $222.33. The firm has a market cap of $17.82 billion, a price-to-earnings ratio of 21.70 and a beta of 1.08.

Laboratory Co. of America (NYSE:LH – Get Free Report) last posted its earnings results on Thursday, July 27th. The medical research company reported $3.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.47 by ($0.05). The business had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.77 billion. Laboratory Co. of America had a net margin of 5.89% and a return on equity of 14.62%. Laboratory Co. of America’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $4.96 earnings per share. As a group, sell-side analysts predict that Laboratory Co. of America Holdings will post 13.68 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Tuesday, August 8th were paid a $0.72 dividend. The ex-dividend date was Monday, August 7th. This represents a $2.88 dividend on an annualized basis and a yield of 1.43%. Laboratory Co. of America’s payout ratio is presently 31.07%.

Analyst Ratings Changes

LH has been the subject of a number of research analyst reports. Credit Suisse Group dropped their price objective on shares of Laboratory Co. of America from $247.41 to $231.00 and set an “outperform” rating for the company in a research note on Wednesday, August 2nd. HSBC started coverage on shares of Laboratory Co. of America in a research note on Wednesday, September 6th. They set a “hold” rating and a $210.00 price target on the stock. Robert W. Baird dropped their price objective on Laboratory Co. of America from $251.00 to $237.00 and set an “outperform” rating for the company in a report on Monday. Truist Financial reiterated a “buy” rating and issued a $270.00 target price on shares of Laboratory Co. of America in a report on Friday. Finally, UBS Group dropped their price target on Laboratory Co. of America from $255.00 to $250.00 in a research note on Monday. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $246.00.

Read Our Latest Research Report on LH

Laboratory Co. of America Company Profile

(Free Report)

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 and Labcorp Drug Development.