Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Thematics Asset Management

by · The Cerbat Gem

Thematics Asset Management cut its position in shares of Laboratory Co. of America Holdings (NYSE:LH – Free Report) by 5.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 23,383 shares of the medical research company’s stock after selling 1,460 shares during the quarter. Thematics Asset Management’s holdings in Laboratory Co. of America were worth $5,315,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Veritas Investment Partners UK Ltd. grew its holdings 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 worth $259,133,000 after acquiring an additional 279,628 shares during the last quarter. Prudential PLC grew its holdings in shares of Laboratory Co. of America by 19.7% in the 4th quarter. Prudential PLC now owns 5,526 shares of the medical research company’s stock worth $1,256,000 after acquiring an additional 909 shares during the last quarter. Morningstar Investment Services LLC grew its holdings in shares of Laboratory Co. of America by 100.3% in the 4th quarter. Morningstar Investment Services LLC now owns 87,890 shares of the medical research company’s stock worth $19,956,000 after acquiring an additional 44,016 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Laboratory Co. of America by 2.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 391,268 shares of the medical research company’s stock worth $88,931,000 after acquiring an additional 8,975 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Laboratory Co. of America by 3.0% in the 4th quarter. Northern Trust Corp now owns 1,163,252 shares of the medical research company’s stock worth $264,396,000 after acquiring an additional 33,493 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Laboratory Co. of America

In other news, EVP Der Vaart Sandra D. Van sold 3,553 shares of Laboratory Co. of America stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $216.74, for a total value of $770,077.22. Following the transaction, the executive vice president now directly owns 7,637 shares in the company, valued at $1,655,243.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $210.83, for a total transaction of $421,660.00. Following the transaction, the executive vice president now directly owns 5,637 shares in the company, valued at $1,188,448.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 3,553 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $216.74, for a total value of $770,077.22. Following the transaction, the executive vice president now owns 7,637 shares in the company, valued at $1,655,243.38. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,469 shares of company stock worth $3,959,058. Company insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Down 0.9 %

Shares of NYSE:LH traded down $1.81 on Friday, reaching $196.60. The company had a trading volume of 471,229 shares, compared to its average volume of 705,458. Laboratory Co. of America Holdings has a twelve month low of $180.81 and a twelve month high of $234.09. The stock has a 50-day moving average price of $203.61 and a 200 day moving average price of $214.28. The stock has a market capitalization of $16.57 billion, a P/E ratio of 39.56, a P/E/G ratio of 1.49 and a beta of 1.04. 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 (NYSE:LH – Get Free Report) last announced its quarterly earnings results on Thursday, April 25th. The medical research company reported $3.68 earnings per share for the quarter, topping analysts’ consensus estimates of $3.48 by $0.20. The company had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.12 billion. Laboratory Co. of America had a return on equity of 14.68% and a net margin of 3.52%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.82 earnings per share. On average, equities analysts expect that Laboratory Co. of America Holdings will post 14.87 EPS for the current year.

Laboratory Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 28th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Friday, May 24th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.46%. Laboratory Co. of America’s payout ratio is presently 57.95%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Argus raised Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 target price for the company in a research report on Monday, March 25th. Robert W. Baird decreased their target price on Laboratory Co. of America from $255.00 to $244.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. Leerink Partnrs reaffirmed an “outperform” rating on shares of Laboratory Co. of America in a research report on Monday, February 26th. SVB Leerink assumed coverage on Laboratory Co. of America in a research report on Monday, February 26th. They issued an “outperform” rating and a $260.00 target price for the company. Finally, Evercore ISI started coverage on Laboratory Co. of America in a research report on Friday, February 9th. They issued an “in-line” rating and a $240.00 target price for the company. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $241.86.

Read Our Latest Report on LH

About Laboratory Co. of America

(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 (Dx) and Biopharma Laboratory Services (BLS).

See Also

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