New York State Common Retirement Fund Sells 10,400 Shares of Laboratory Co. of America Holdings (NYSE:LH)

New York State Common Retirement Fund cut its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 6.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 156,046 shares of the medical research company’s stock after selling 10,400 shares during the period. New York State Common Retirement Fund’s holdings in Laboratory Co. of America were worth $34,873,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LH. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Laboratory Co. of America by 27.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 55,219 shares of the medical research company’s stock worth $12,172,000 after acquiring an additional 11,917 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Laboratory Co. of America by 10.1% during the 1st quarter. BNP Paribas Financial Markets now owns 158,188 shares of the medical research company’s stock worth $34,558,000 after purchasing an additional 14,527 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Laboratory Co. of America by 11.4% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,049 shares of the medical research company’s stock valued at $448,000 after purchasing an additional 209 shares during the period. Fidelis Capital Partners LLC bought a new stake in shares of Laboratory Co. of America in the first quarter valued at about $124,000. Finally, Nordea Investment Management AB lifted its holdings in shares of Laboratory Co. of America by 23.7% in the first quarter. Nordea Investment Management AB now owns 649,382 shares of the medical research company’s stock valued at $141,046,000 after purchasing an additional 124,277 shares in the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Laboratory Co. of America

In other news, Director Kerrii B. Anderson sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $230.00, for a total transaction of $230,000.00. Following the completion of the sale, the director now owns 13,722 shares in the company, valued at $3,156,060. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Kerrii B. Anderson sold 1,000 shares of Laboratory Co. of America stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $230.00, for a total transaction of $230,000.00. Following the completion of the sale, the director now directly owns 13,722 shares of the company’s stock, valued at approximately $3,156,060. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Glenn A. Eisenberg sold 15,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $223.99, for a total value of $3,359,850.00. Following the completion of the sale, the chief financial officer now owns 31,289 shares of the company’s stock, valued at $7,008,423.11. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,679 shares of company stock valued at $6,946,306 in the last three months. 0.85% of the stock is currently owned by company insiders.

Laboratory Co. of America Trading Down 0.5 %

Shares of NYSE:LH opened at $227.10 on Friday. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $239.50. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.44. The company has a market capitalization of $18.99 billion, a P/E ratio of 43.93, a price-to-earnings-growth ratio of 1.88 and a beta of 1.05. The company has a 50-day simple moving average of $222.59 and a 200 day simple moving average of $213.22.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings data 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 company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The business’s revenue was up 7.4% on a year-over-year basis. During the same period last year, the firm posted $3.38 earnings per share. Sell-side analysts forecast that Laboratory Co. of America Holdings will post 14.53 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, November 26th will be paid a $0.72 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $2.88 dividend on an annualized basis and a yield of 1.27%. Laboratory Co. of America’s dividend payout ratio (DPR) is currently 55.71%.

Analyst Ratings Changes

A number of brokerages recently issued reports on LH. UBS Group lifted their target price on Laboratory Co. of America from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Truist Financial lifted their price objective on shares of Laboratory Co. of America from $255.00 to $275.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft increased their target price on shares of Laboratory Co. of America from $220.00 to $230.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Bank of America lifted their price target on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Finally, Hsbc Global Res raised shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.