Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by WESCAP Management Group Inc.

WESCAP Management Group Inc. trimmed its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 4.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,104 shares of the medical research company’s stock after selling 106 shares during the period. WESCAP Management Group Inc.’s holdings in Laboratory Co. of America were worth $478,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Mendota Financial Group LLC acquired a new position in Laboratory Co. of America in the fourth quarter worth approximately $29,000. Provence Wealth Management Group acquired a new stake in shares of Laboratory Co. of America during the third quarter worth $29,000. Tradewinds Capital Management LLC purchased a new stake in shares of Laboratory Co. of America during the third quarter valued at $34,000. Exchange Traded Concepts LLC acquired a new position in shares of Laboratory Co. of America in the 3rd quarter valued at $37,000. Finally, Bruce G. Allen Investments LLC purchased a new position in Laboratory Co. of America in the 4th quarter worth about $60,000. 95.94% of the stock is currently owned by institutional investors.

Insider Transactions at Laboratory Co. of America

In other Laboratory Co. of America news, CMO Amy B. Summy sold 227 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $218.45, for a total value of $49,588.15. Following the completion of the sale, the chief marketing officer now owns 3,859 shares of the company’s stock, valued at approximately $842,998.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Peter J. Wilkinson sold 2,439 shares of the firm’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $204.33, for a total transaction of $498,360.87. Following the completion of the transaction, the chief accounting officer now owns 2,087 shares of the company’s stock, valued at $426,436.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Amy B. Summy sold 227 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $218.45, for a total transaction of $49,588.15. Following the completion of the sale, the chief marketing officer now directly owns 3,859 shares in the company, valued at approximately $842,998.55. The disclosure for this sale can be found here. Insiders sold a total of 57,244 shares of company stock worth $12,360,478 over the last quarter. Company insiders own 0.85% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Leerink Partnrs reissued an “outperform” rating on shares of Laboratory Co. of America in a research report on Monday, February 26th. TheStreet downgraded shares of Laboratory Co. of America from a “b-” rating to a “c+” rating in a research note on Thursday, February 15th. 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. Truist Financial dropped their price target on Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. Finally, Barclays decreased their price objective on Laboratory Co. of America from $234.00 to $213.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $243.14.

Laboratory Co. of America Stock Up 0.5 %

LH stock traded up $1.07 during trading hours on Friday, reaching $201.32. 555,654 shares of the stock were exchanged, compared to its average volume of 854,788. The firm’s 50-day moving average is $210.12 and its 200-day moving average is $214.70. Laboratory Co. of America Holdings has a 12 month low of $174.20 and a 12 month high of $234.09. The company has a market cap of $16.97 billion, a price-to-earnings ratio of 40.51, a PEG ratio of 1.51 and a beta of 1.02. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.88 and a quick ratio of 0.76.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings data on Thursday, April 25th. The medical research company reported $3.68 EPS for the quarter, topping analysts’ consensus estimates of $3.48 by $0.20. Laboratory Co. of America had a net margin of 3.52% and a return on equity of 14.68%. The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the previous year, the firm posted $3.82 earnings per share. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, equities research analysts expect that Laboratory Co. of America Holdings will post 14.87 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 28th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend is Tuesday, May 28th. Laboratory Co. of America’s payout ratio is presently 57.95%.

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).