Amalgamated Bank Sells 1,815 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Amalgamated Bank decreased its stake in Laboratory Co. of America Holdings (NYSE:LHGet Rating) by 7.0% in the 1st quarter, Holdings Channel.com reports. The firm owned 24,018 shares of the medical research company’s stock after selling 1,815 shares during the quarter. Amalgamated Bank’s holdings in Laboratory Co. of America were worth $6,333,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LH. Kentucky Retirement Systems increased its position in Laboratory Co. of America by 6.3% in the 1st quarter. Kentucky Retirement Systems now owns 5,934 shares of the medical research company’s stock valued at $1,565,000 after acquiring an additional 350 shares during the period. Virtu Financial LLC increased its position in shares of Laboratory Co. of America by 55.6% during the fourth quarter. Virtu Financial LLC now owns 3,060 shares of the medical research company’s stock worth $961,000 after buying an additional 1,093 shares during the period. Commonwealth Equity Services LLC increased its position in shares of Laboratory Co. of America by 2.1% during the first quarter. Commonwealth Equity Services LLC now owns 14,380 shares of the medical research company’s stock worth $3,791,000 after buying an additional 292 shares during the period. Veriti Management LLC increased its position in shares of Laboratory Co. of America by 15.0% during the first quarter. Veriti Management LLC now owns 3,882 shares of the medical research company’s stock worth $1,024,000 after buying an additional 505 shares during the period. Finally, AlphaCrest Capital Management LLC increased its position in shares of Laboratory Co. of America by 8.5% during the first quarter. AlphaCrest Capital Management LLC now owns 8,538 shares of the medical research company’s stock worth $2,251,000 after buying an additional 672 shares during the period. Institutional investors own 88.82% of the company’s stock.

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 32,100 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $253.94, for a total value of $8,151,474.00. Following the transaction, the chief financial officer now directly owns 52,158 shares in the company, valued at $13,245,002.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 32,100 shares of the stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $253.94, for a total transaction of $8,151,474.00. Following the completion of the transaction, the chief financial officer now directly owns 52,158 shares of the company’s stock, valued at $13,245,002.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Peter J. Wilkinson sold 2,576 shares of the stock in a transaction on Monday, August 1st. The shares were sold at an average price of $258.40, for a total value of $665,638.40. Following the transaction, the chief accounting officer now directly owns 1,887 shares of the company’s stock, valued at $487,600.80. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on LH shares. Robert W. Baird increased their price objective on shares of Laboratory Co. of America from $295.00 to $297.00 and gave the stock an “outperform” rating in a research report on Thursday, August 4th. Morgan Stanley reiterated an “overweight” rating and set a $300.00 price objective on shares of Laboratory Co. of America in a research report on Monday, August 22nd. Finally, Credit Suisse Group reduced their price target on shares of Laboratory Co. of America to $308.00 in a report on Tuesday, August 9th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $299.75.

Laboratory Co. of America Stock Down 0.1 %

LH opened at $223.99 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.90 and a quick ratio of 1.74. The company’s 50-day moving average is $242.80 and its 200 day moving average is $249.56. Laboratory Co. of America Holdings has a fifty-two week low of $212.40 and a fifty-two week high of $317.17. The firm has a market capitalization of $20.76 billion, a P/E ratio of 10.72 and a beta of 1.06.

Laboratory Co. of America (NYSE:LHGet Rating) last released its quarterly earnings results on Thursday, July 28th. The medical research company reported $4.95 earnings per share for the quarter, beating analysts’ consensus estimates of $4.60 by $0.35. Laboratory Co. of America had a net margin of 12.67% and a return on equity of 22.39%. The company had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same period last year, the firm earned $6.13 earnings per share. The firm’s revenue was down 3.7% on a year-over-year basis. Research analysts expect that Laboratory Co. of America Holdings will post 20.26 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Thursday, August 18th were given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend was Wednesday, August 17th. Laboratory Co. of America’s payout ratio is currently 13.78%.

Laboratory Co. of America Profile

(Get Rating)

Laboratory Corporation of America Holdings operates as a global 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 Labcorp Drug Development (DD).

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

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