Cary Street Partners Investment Advisory LLC Has $3.17 Million Position in Laboratory Co. of America Holdings (NYSE:LH)

Cary Street Partners Investment Advisory LLC trimmed its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 13.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 13,931 shares of the medical research company’s stock after selling 2,109 shares during the period. Cary Street Partners Investment Advisory LLC’s holdings in Laboratory Co. of America were worth $3,166,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in LH. Provence Wealth Management Group acquired a new position in Laboratory Co. of America during the third quarter worth $29,000. Mendota Financial Group LLC acquired a new position in Laboratory Co. of America in the fourth quarter valued at about $29,000. Tradewinds Capital Management LLC bought a new stake in Laboratory Co. of America during the third quarter worth about $34,000. Exchange Traded Concepts LLC acquired a new stake in shares of Laboratory Co. of America during the third quarter worth approximately $37,000. Finally, Bruce G. Allen Investments LLC bought a new position in shares of Laboratory Co. of America in the fourth quarter valued at approximately $60,000. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LH has been the topic of a number of research analyst reports. Barclays decreased their price target on Laboratory Co. of America from $234.00 to $213.00 and set an “equal weight” rating on the stock in a research report on Friday. Evercore ISI started coverage on Laboratory Co. of America in a research note on Friday, February 9th. They issued an “in-line” rating and a $240.00 target price for the company. Robert W. Baird reduced their price target on shares of Laboratory Co. of America from $255.00 to $244.00 and set an “outperform” rating on the stock in a research report on Friday. Leerink Partnrs reissued an “outperform” rating on shares of Laboratory Co. of America in a report on Monday, February 26th. Finally, Truist Financial dropped their target price on shares of Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating for the company in a research note on Friday. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Laboratory Co. of America has an average rating of “Moderate Buy” and a consensus target price of $243.14.

Insider Activity at Laboratory Co. of America

In other news, CMO Amy B. Summy sold 227 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 transaction of $49,588.15. Following the transaction, the chief marketing officer now directly owns 3,859 shares of the company’s stock, valued at $842,998.55. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 34,504 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $215.97, for a total transaction of $7,451,828.88. Following the sale, the chief financial officer now directly owns 23,595 shares in the company, valued at approximately $5,095,812.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Amy B. Summy sold 227 shares of Laboratory Co. of America stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $218.45, for a total transaction of $49,588.15. Following the completion of the transaction, 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 have sold 54,305 shares of company stock worth $11,761,059 in the last ninety days. Company insiders own 0.85% of the company’s stock.

Laboratory Co. of America Trading Down 0.4 %

NYSE LH traded down $0.76 during trading hours on Tuesday, hitting $203.41. The company’s stock had a trading volume of 248,494 shares, compared to its average volume of 759,849. The stock has a fifty day moving average of $211.45 and a 200 day moving average of $214.90. 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 Holdings has a twelve month low of $174.20 and a twelve month high of $234.09. The firm has a market capitalization of $17.11 billion, a P/E ratio of 41.08, a PEG ratio of 1.49 and a beta of 1.01.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings results on Thursday, April 25th. The medical research company reported $3.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.48 by $0.20. The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.12 billion. Laboratory Co. of America had a return on equity of 14.68% and a net margin of 3.52%. The firm’s revenue was up 4.6% on a year-over-year basis. During the same period last year, the company earned $3.82 EPS. Equities research analysts forecast that Laboratory Co. of America Holdings will post 14.85 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The business also recently declared 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 is Tuesday, May 28th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.42%. Laboratory Co. of America’s dividend payout ratio (DPR) 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).