Chevy Chase Trust Holdings LLC Sells 935 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Chevy Chase Trust Holdings LLC decreased its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 1.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,008 shares of the medical research company’s stock after selling 935 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.06% of Laboratory Co. of America worth $11,362,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Laboratory Co. of America in the 4th quarter valued at $291,045,000. Allspring Global Investments Holdings LLC lifted its position in shares of Laboratory Co. of America by 58.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,613,854 shares of the medical research company’s stock worth $352,563,000 after purchasing an additional 597,571 shares during the period. Wellington Management Group LLP boosted its stake in shares of Laboratory Co. of America by 20.6% in the 3rd quarter. Wellington Management Group LLP now owns 2,487,106 shares of the medical research company’s stock valued at $500,033,000 after purchasing an additional 424,684 shares during the last quarter. Veritas Investment Partners UK Ltd. boosted its stake in shares of Laboratory Co. of America by 32.5% in the 4th quarter. Veritas Investment Partners UK Ltd. now owns 1,140,300 shares of the medical research company’s stock valued at $259,133,000 after purchasing an additional 279,628 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its position in shares of Laboratory Co. of America by 2,750.2% during the fourth quarter. Public Sector Pension Investment Board now owns 270,483 shares of the medical research company’s stock worth $61,478,000 after buying an additional 260,993 shares during the period. 95.94% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 250 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $200.10, for a total transaction of $50,025.00. Following the completion of the sale, the director now directly owns 15,722 shares in the company, valued at $3,145,972.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Kerrii B. Anderson sold 250 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $200.10, for a total transaction of $50,025.00. Following the transaction, the director now directly owns 15,722 shares in the company, valued at approximately $3,145,972.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $210.83, for a total value of $421,660.00. Following the completion of the sale, the executive vice president now owns 5,637 shares of the company’s stock, valued at approximately $1,188,448.71. The disclosure for this sale can be found here. Insiders have sold a total of 4,939 shares of company stock worth $1,021,078 in the last 90 days. 0.85% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have commented on LH shares. Robert W. Baird upped their price target on shares of Laboratory Co. of America from $258.00 to $261.00 and gave the company an “outperform” rating in a research report on Monday. JPMorgan Chase & Co. cut their target price on Laboratory Co. of America from $261.00 to $243.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. StockNews.com downgraded Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Tuesday, June 4th. Argus upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 price target on the stock in a report on Monday, March 25th. Finally, Barclays dropped their price objective on shares of Laboratory Co. of America from $234.00 to $213.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $241.29.

Laboratory Co. of America Price Performance

NYSE:LH traded up $0.48 during trading hours on Wednesday, hitting $199.83. The stock had a trading volume of 158,377 shares, compared to its average volume of 728,027. The firm has a market capitalization of $16.85 billion, a price-to-earnings ratio of 40.31, a P/E/G ratio of 1.53 and a beta of 1.05. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year high of $234.09. The company has a 50 day simple moving average of $202.24 and a two-hundred day simple moving average of $211.94. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.88 and a quick ratio of 0.76.

Laboratory Co. of America (NYSE:LH) last announced its earnings results on Thursday, April 25th. The medical research company reported $3.68 earnings per share for the quarter, beating analysts’ consensus estimates of $3.48 by $0.20. Laboratory Co. of America had a net margin of 3.52% and a return on equity of 14.68%. The business had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same period last year, the firm posted $3.82 earnings per share. Laboratory Co. of America’s quarterly revenue was up 4.6% on a year-over-year basis. Research analysts forecast that Laboratory Co. of America Holdings will post 14.87 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Tuesday, May 28th were issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.44%. The ex-dividend date was Friday, May 24th. Laboratory Co. of America’s dividend payout ratio is currently 57.95%.

Laboratory Co. of America 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).