Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S lowered its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 39.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,785 shares of the medical research company’s stock after selling 1,140 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Laboratory Co. of America were worth $406,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Mendota Financial Group LLC purchased a new position in Laboratory Co. of America during the 4th quarter valued at about $29,000. Provence Wealth Management Group purchased a new position in Laboratory Co. of America in the third quarter valued at approximately $29,000. Bruce G. Allen Investments LLC purchased a new position in Laboratory Co. of America in the fourth quarter valued at approximately $60,000. Disciplined Equity Management Inc. purchased a new stake in shares of Laboratory Co. of America during the fourth quarter valued at approximately $68,000. Finally, Oakworth Capital Inc. increased its stake in shares of Laboratory Co. of America by 48.1% in the fourth quarter. Oakworth Capital Inc. now owns 308 shares of the medical research company’s stock worth $70,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Price Performance

Laboratory Co. of America stock opened at $199.65 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.76 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $16.83 billion, a PE ratio of 40.17, a P/E/G ratio of 1.48 and a beta of 1.02. Laboratory Co. of America Holdings has a 12 month low of $174.20 and a 12 month high of $234.09. The stock has a 50-day moving average price of $207.09 and a two-hundred day moving average price of $215.09.

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

Laboratory Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 28th will be paid a $0.72 dividend. The ex-dividend date is Friday, May 24th. This represents a $2.88 dividend on an annualized basis and a yield of 1.44%. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 57.95%.

Insider Buying and Selling at Laboratory Co. of America

In other news, CMO Amy B. Summy sold 227 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $218.45, for a total value of $49,588.15. Following the transaction, the chief marketing officer now owns 3,859 shares in the company, valued at $842,998.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Laboratory Co. of America news, CMO Amy B. Summy sold 227 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was 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 directly owns 3,859 shares of the company’s stock, valued at $842,998.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Mark S. Schroeder sold 5,048 shares of Laboratory Co. of America stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $218.45, for a total value of $1,102,735.60. Following the completion of the transaction, the chief operating officer now owns 5,036 shares of the company’s stock, valued at $1,100,114.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,744 shares of company stock valued at $5,111,382. Company insiders own 0.85% of the company’s stock.

Analysts Set New Price Targets

LH has been the subject of a number of research reports. Argus raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 price objective for the company in a report on Monday, March 25th. Evercore ISI started coverage on Laboratory Co. of America in a report on Friday, February 9th. They set an “in-line” rating and a $240.00 price objective on the stock. Leerink Partnrs reaffirmed an “outperform” rating on shares of Laboratory Co. of America in a research note on Monday, February 26th. SVB Leerink began coverage on Laboratory Co. of America in a research note on Monday, February 26th. They issued an “outperform” rating and a $260.00 price target for the company. Finally, Barclays cut their price target on Laboratory Co. of America from $234.00 to $213.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Laboratory Co. of America currently has an average rating of “Moderate Buy” and a consensus price target of $243.14.

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).