American National Bank Trims Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

American National Bank reduced its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 14.2% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,978 shares of the medical research company’s stock after selling 3,628 shares during the quarter. American National Bank’s holdings in Laboratory Co. of America were worth $5,304,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. WealthPLAN Partners LLC purchased a new stake in shares of Laboratory Co. of America in the 1st quarter valued at $25,000. Eagle Bay Advisors LLC bought a new position in Laboratory Co. of America during the 2nd quarter worth approximately $29,000. Zions Bancorporation N.A. grew its position in Laboratory Co. of America by 45.6% during the 4th quarter. Zions Bancorporation N.A. now owns 131 shares of the medical research company’s stock worth $31,000 after acquiring an additional 41 shares during the last quarter. Compagnie Lombard Odier SCmA bought a new position in Laboratory Co. of America during the 4th quarter worth approximately $33,000. Finally, ST Germain D J Co. Inc. bought a new position in Laboratory Co. of America during the 4th quarter worth approximately $38,000. 89.37% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Laboratory Co. of America

In other news, EVP Der Vaart Sandra D. Van sold 212 shares of the company’s stock in a transaction dated Thursday, June 29th. The shares were sold at an average price of $240.00, for a total transaction of $50,880.00. Following the completion of the sale, the executive vice president now owns 7,605 shares of the company’s stock, valued at approximately $1,825,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 212 shares of the firm’s stock in a transaction dated Thursday, June 29th. The stock was sold at an average price of $240.00, for a total transaction of $50,880.00. Following 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 legal filing with the SEC, which is available through this hyperlink. Also, Director Kerrii B. Anderson sold 5,000 shares of Laboratory Co. of America stock in a transaction that occurred on 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 approximately $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 Stock Performance

LH stock opened at $201.17 on Tuesday. The stock has a market capitalization of $17.82 billion, a PE ratio of 21.70 and a beta of 1.08. Laboratory Co. of America Holdings has a 12-month low of $166.93 and a 12-month high of $222.33. The company has a current ratio of 2.35, a quick ratio of 2.12 and a debt-to-equity ratio of 0.58. The stock’s 50 day simple moving average is $212.29 and its 200 day simple moving average is $220.17.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings data on Thursday, July 27th. The medical research company reported $3.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.47 by ($0.05). Laboratory Co. of America had a net margin of 5.89% and a return on equity of 14.62%. The business had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same period last year, the company posted $4.96 earnings per share. The business’s revenue was up 3.8% compared to the same quarter last year. As a group, research analysts forecast 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 business also recently announced a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Tuesday, August 8th were paid a dividend of $0.72 per share. The ex-dividend date of this dividend 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 dividend payout ratio is presently 31.07%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Credit Suisse Group lowered 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 began coverage on Laboratory Co. of America in a report on Wednesday, September 6th. They issued a “hold” rating and a $210.00 price objective for the company. UBS Group decreased their target price on Laboratory Co. of America from $255.00 to $250.00 in a report on Monday. Morgan Stanley cut their price target on shares of Laboratory Co. of America from $285.00 to $260.00 and set an “overweight” rating on the stock in a report on Thursday, August 3rd. Finally, Wells Fargo & Company dropped their target price on shares of Laboratory Co. of America from $290.00 to $270.00 and set an “overweight” rating for the company in a research report on Monday, August 14th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Laboratory Co. of America currently has a consensus rating of “Moderate Buy” and a consensus price target of $246.00.

About Laboratory Co. of America

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.