Capital Investment Advisors LLC Sells 448 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Capital Investment Advisors LLC decreased its position in Laboratory Co. of America Holdings (NYSE:LHGet Rating) by 28.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,102 shares of the medical research company’s stock after selling 448 shares during the quarter. Capital Investment Advisors LLC’s holdings in Laboratory Co. of America were worth $258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Kentucky Retirement Systems boosted its holdings in shares of 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 worth $1,565,000 after purchasing an additional 350 shares during the period. Virtu Financial LLC boosted its holdings in shares of Laboratory Co. of America by 55.6% in the 4th quarter. Virtu Financial LLC now owns 3,060 shares of the medical research company’s stock worth $961,000 after purchasing an additional 1,093 shares during the period. Commonwealth Equity Services LLC boosted its holdings in shares of Laboratory Co. of America by 2.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 14,380 shares of the medical research company’s stock worth $3,791,000 after purchasing an additional 292 shares during the period. Veriti Management LLC boosted its holdings in shares of Laboratory Co. of America by 15.0% in the 1st quarter. Veriti Management LLC now owns 3,882 shares of the medical research company’s stock worth $1,024,000 after purchasing an additional 505 shares during the period. Finally, AlphaCrest Capital Management LLC boosted its holdings in shares of Laboratory Co. of America by 8.5% in the 1st quarter. AlphaCrest Capital Management LLC now owns 8,538 shares of the medical research company’s stock worth $2,251,000 after purchasing an additional 672 shares during the period. Institutional investors own 88.82% of the company’s stock.

Insider Transactions at Laboratory Co. of America

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Credit Suisse Group dropped their target price on Laboratory Co. of America to $308.00 in a report on Tuesday, August 9th. Robert W. Baird boosted their price objective on Laboratory Co. of America from $295.00 to $297.00 and gave the company an “outperform” rating in a report on Thursday, August 4th. Finally, Morgan Stanley restated an “overweight” rating and set a $300.00 price objective on shares of Laboratory Co. of America in a report on Monday, August 22nd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $299.75.

Laboratory Co. of America Price Performance

Shares of LH stock opened at $223.99 on Monday. Laboratory Co. of America Holdings has a twelve month low of $212.40 and a twelve month high of $317.17. The stock has a market capitalization of $20.76 billion, a price-to-earnings ratio of 10.72 and a beta of 1.06. The stock has a fifty day simple moving average of $242.80 and a two-hundred day simple moving average of $249.56. The company has a current ratio of 1.90, a quick ratio of 1.74 and a debt-to-equity ratio of 0.52.

Laboratory Co. of America (NYSE:LHGet Rating) last issued its earnings results on Thursday, July 28th. The medical research company reported $4.95 earnings per share for the quarter, topping the consensus estimate of $4.60 by $0.35. Laboratory Co. of America had a return on equity of 22.39% and a net margin of 12.67%. The business had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same period in the prior year, the business earned $6.13 EPS. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. On average, analysts predict that Laboratory Co. of America Holdings will post 20.26 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

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

Laboratory Co. of America Company Profile

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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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