Burney Co. Sells 417 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Burney Co. lessened its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 2.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,090 shares of the medical research company’s stock after selling 417 shares during the quarter. Burney Co.’s holdings in Laboratory Co. of America were worth $3,297,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. McClarren Financial Advisors Inc. grew its stake in Laboratory Co. of America by 313.2% in the 1st quarter. McClarren Financial Advisors Inc. now owns 219 shares of the medical research company’s stock valued at $48,000 after purchasing an additional 166 shares during the period. Concord Wealth Partners grew its stake in shares of Laboratory Co. of America by 50.3% during the 1st quarter. Concord Wealth Partners now owns 275 shares of the medical research company’s stock worth $60,000 after acquiring an additional 92 shares during the period. Disciplined Equity Management Inc. bought a new position in shares of Laboratory Co. of America during the 4th quarter worth $68,000. Oakworth Capital Inc. grew its stake in shares of Laboratory Co. of America by 48.1% during the 4th quarter. Oakworth Capital Inc. now owns 308 shares of the medical research company’s stock worth $70,000 after acquiring an additional 100 shares during the period. Finally, Headlands Technologies LLC bought a new position in shares of Laboratory Co. of America during the 4th quarter worth $80,000. Institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Price Performance

Shares of NYSE LH traded up $2.61 during trading hours on Friday, reaching $236.00. 1,194,681 shares of the stock traded hands, compared to its average volume of 600,207. The company has a market capitalization of $19.89 billion, a P/E ratio of 47.49, a price-to-earnings-growth ratio of 1.76 and a beta of 1.05. The company has a quick ratio of 0.76, a current ratio of 0.88 and a debt-to-equity ratio of 0.39. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $238.46. The company’s 50-day simple moving average is $205.23 and its two-hundred day simple moving average is $210.54.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings data on Thursday, August 1st. The medical research company reported $3.94 earnings per share for the quarter, beating analysts’ consensus estimates of $3.78 by $0.16. The company had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.19 billion. Laboratory Co. of America had a return on equity of 15.39% and a net margin of 3.60%. Laboratory Co. of America’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the firm posted $3.42 EPS. Equities research analysts forecast that Laboratory Co. of America Holdings will post 14.84 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Thursday, August 29th will be given a dividend of $0.72 per share. The ex-dividend date is Thursday, August 29th. This represents a $2.88 annualized dividend and a yield of 1.22%. Laboratory Co. of America’s payout ratio is 57.95%.

Insider Buying and Selling

In other news, EVP Der Vaart Sandra D. Van sold 2,000 shares of Laboratory Co. of America stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $210.83, for a total value of $421,660.00. Following the sale, the executive vice president now directly owns 5,637 shares in the company, valued at approximately $1,188,448.71. The sale was disclosed in a filing with the SEC, which is available through this link. 0.85% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LH. Truist Financial increased their price target on Laboratory Co. of America from $255.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday. Evercore ISI increased their price objective on Laboratory Co. of America from $210.00 to $215.00 and gave the stock an “in-line” rating in a report on Tuesday, July 9th. StockNews.com cut Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Tuesday, June 4th. Barclays increased their price objective on Laboratory Co. of America from $213.00 to $249.00 and gave the stock an “equal weight” rating in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Laboratory Co. of America from $220.00 to $230.00 and gave the stock a “hold” rating in a report on Friday. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Laboratory Co. of America currently has a consensus rating of “Moderate Buy” and a consensus price target of $247.79.

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).