Laboratory Co. of America Holdings (NYSE:LH) Holdings Trimmed by Burgundy Asset Management Ltd.

Burgundy Asset Management Ltd. decreased its position in shares of Laboratory Co. of America Holdings (NYSE:LHFree Report) by 1.6% in the third quarter, Holdings Channel.com reports. The firm owned 108,454 shares of the medical research company’s stock after selling 1,771 shares during the period. Burgundy Asset Management Ltd.’s holdings in Laboratory Co. of America were worth $21,805,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of LH. Lazard Asset Management LLC raised its holdings in Laboratory Co. of America by 532.2% in the 4th quarter. Lazard Asset Management LLC now owns 1,530,675 shares of the medical research company’s stock worth $360,441,000 after acquiring an additional 1,288,574 shares during the period. Diamond Hill Capital Management Inc. increased its stake in shares of Laboratory Co. of America by 644.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 1,280,884 shares of the medical research company’s stock worth $257,522,000 after purchasing an additional 1,108,776 shares during the period. Norges Bank acquired a new position in shares of Laboratory Co. of America during the 4th quarter worth about $219,236,000. Allspring Global Investments Holdings LLC lifted its position in shares of Laboratory Co. of America by 3,836.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 806,975 shares of the medical research company’s stock worth $162,243,000 after purchasing an additional 786,477 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in Laboratory Co. of America by 6.2% in the 2nd quarter. BlackRock Inc. now owns 12,703,935 shares of the medical research company’s stock valued at $3,065,841,000 after buying an additional 743,824 shares during the last quarter. 89.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. upped their price target on Laboratory Co. of America from $259.00 to $261.00 and gave the stock an “overweight” rating in a report on Friday, November 17th. Barclays began coverage on shares of Laboratory Co. of America in a research note on Wednesday, January 3rd. They set an “equal weight” rating and a $222.00 target price for the company. Evercore ISI started coverage on shares of Laboratory Co. of America in a research report on Friday. They issued an “in-line” rating and a $240.00 price target on the stock. Mizuho cut their price objective on shares of Laboratory Co. of America from $257.00 to $230.00 and set a “buy” rating for the company in a research report on Tuesday, October 31st. Finally, TheStreet raised Laboratory Co. of America from a “c+” rating to a “b-” rating in a research report on Thursday, January 18th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $241.86.

View Our Latest Stock Analysis on LH

Insider Transactions at Laboratory Co. of America

In other news, CAO Peter J. Wilkinson sold 1,384 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $210.71, for a total transaction of $291,622.64. Following the sale, the chief accounting officer now owns 2,087 shares in the company, valued at $439,751.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Der Vaart Sandra D. Van sold 259 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $222.06, for a total value of $57,513.54. Following the completion of the sale, the executive vice president now owns 7,637 shares of the company’s stock, valued at $1,695,872.22. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Peter J. Wilkinson sold 1,384 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $210.71, for a total value of $291,622.64. Following the transaction, the chief accounting officer now directly owns 2,087 shares in the company, valued at approximately $439,751.77. The disclosure for this sale can be found here. 0.65% of the stock is owned by company insiders.

Laboratory Co. of America Price Performance

Shares of Laboratory Co. of America stock traded up $1.91 during mid-day trading on Monday, reaching $224.50. 83,109 shares of the stock were exchanged, compared to its average volume of 633,407. Laboratory Co. of America Holdings has a fifty-two week low of $174.20 and a fifty-two week high of $234.09. The company has a market cap of $19.06 billion, a price-to-earnings ratio of 29.76 and a beta of 1.04. The firm has a 50-day simple moving average of $223.49 and a 200 day simple moving average of $213.20. The company has a current ratio of 1.36, a quick ratio of 1.20 and a debt-to-equity ratio of 0.57.

Laboratory Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 13th. Stockholders of record on Tuesday, February 27th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date is Monday, February 26th. Laboratory Co. of America’s dividend payout ratio (DPR) is currently 38.50%.

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 and Labcorp Drug Development.

Further Reading

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Institutional Ownership by Quarter for Laboratory Co. of America (NYSE:LH)

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