Toroso Investments LLC Sells 208 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Toroso Investments LLC reduced its stake in shares of Laboratory Co. of America Holdings (NYSE:LH – Get Rating) by 2.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 9,369 shares of the medical research company’s stock after selling 208 shares during the quarter. Toroso Investments LLC’s holdings in Laboratory Co. of America were worth $1,919,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Continental Investors Services Inc. bought a new position in Laboratory Co. of America during the third quarter valued at about $214,000. B. Riley Wealth Advisors Inc. grew its position in shares of Laboratory Co. of America by 60.3% in the third quarter. B. Riley Wealth Advisors Inc. now owns 3,923 shares of the medical research company’s stock valued at $805,000 after purchasing an additional 1,475 shares during the last quarter. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Laboratory Co. of America in the third quarter valued at about $1,828,000. Power Corp of Canada acquired a new stake in shares of Laboratory Co. of America in the third quarter valued at about $180,000. Finally, M&T Bank Corp grew its position in shares of Laboratory Co. of America by 8.1% in the third quarter. M&T Bank Corp now owns 34,994 shares of the medical research company’s stock valued at $7,168,000 after purchasing an additional 2,609 shares during the last quarter. 89.70% of the stock is currently owned by institutional investors.

Laboratory Co. of America Stock Down 0.1 %

NYSE LH opened at $219.10 on Friday. The company has a current ratio of 1.50, a quick ratio of 1.35 and a debt-to-equity ratio of 0.51. The stock’s 50 day moving average is $244.45 and its two-hundred day moving average is $232.90. The company has a market capitalization of $19.39 billion, a price-to-earnings ratio of 15.81 and a beta of 1.06. Laboratory Co. of America Holdings has a 1-year low of $200.32 and a 1-year high of $281.22.

Laboratory Co. of America (NYSE:LH – Get Rating) last released its quarterly earnings data on Thursday, February 16th. The medical research company reported $4.14 earnings per share for the quarter, beating analysts’ consensus estimates of $4.06 by $0.08. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.74 billion. Laboratory Co. of America had a return on equity of 17.68% and a net margin of 8.60%. The company’s quarterly revenue was down 9.5% on a year-over-year basis. During the same period in the previous year, the business earned $6.77 earnings per share. Equities analysts forecast that Laboratory Co. of America Holdings will post 17.18 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 13th. Shareholders of record on Thursday, February 23rd were issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date was Wednesday, February 22nd. Laboratory Co. of America’s payout ratio is 20.78%.

Insider Buying and Selling at Laboratory Co. of America

In other news, CEO Paul R. Kirchgraber sold 8,000 shares of Laboratory Co. of America stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $250.58, for a total value of $2,004,640.00. Following the completion of the transaction, the chief executive officer now owns 9,069 shares in the company, valued at $2,272,510.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Paul R. Kirchgraber sold 8,000 shares of Laboratory Co. of America stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $250.58, for a total value of $2,004,640.00. Following the completion of the transaction, the chief executive officer now owns 9,069 shares in the company, valued at $2,272,510.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 219 shares of Laboratory Co. of America stock in a transaction that occurred on Tuesday, February 7th. The shares were sold at an average price of $243.01, for a total transaction of $53,219.19. Following the completion of the transaction, the executive vice president now owns 5,341 shares of the company’s stock, valued at approximately $1,297,916.41. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,701 shares of company stock valued at $2,178,302. 0.31% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on LH shares. Mizuho raised their price target on Laboratory Co. of America from $250.00 to $277.00 and gave the company a “buy” rating in a research report on Friday, February 17th. Citigroup raised their price target on Laboratory Co. of America from $250.00 to $260.00 and gave the company a “neutral” rating in a research report on Friday, February 17th. Morgan Stanley raised their price target on Laboratory Co. of America from $290.00 to $303.00 and gave the company an “overweight” rating in a research report on Friday, January 6th. Robert W. Baird raised their price target on Laboratory Co. of America to $300.00 and gave the company an “outperform” rating in a research report on Friday, February 17th. Finally, Truist Financial lifted their target price on Laboratory Co. of America from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, February 17th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $283.50.

Laboratory Co. of America Profile

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Laboratory Corp. of America Holdings operates as a life sciences company, which engages in the provision of vital information to help health professionals make clear and confident decisions. It operates through the Drug Development and Diagnostics segments. The Drug Development segment consists of lead optimization, preclinical safety assessment, analytical services, clinical trials, central laboratories, biomarkers, and companion diagnostics, market access, and technology solutions.