Romano Brothers AND Company Sells 150 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Romano Brothers AND Company reduced its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 1.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,248 shares of the medical research company’s stock after selling 150 shares during the quarter. Romano Brothers AND Company’s holdings in Laboratory Co. of America were worth $3,673,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of LH. Lazard Asset Management LLC lifted its holdings in shares of Laboratory Co. of America by 532.2% during the fourth quarter. Lazard Asset Management LLC now owns 1,530,675 shares of the medical research company’s stock valued at $360,441,000 after purchasing an additional 1,288,574 shares in the last quarter. Norges Bank bought a new position in shares of Laboratory Co. of America during the fourth quarter valued at $219,236,000. American Century Companies Inc. lifted its holdings in Laboratory Co. of America by 5,366.9% in the fourth quarter. American Century Companies Inc. now owns 725,243 shares of the medical research company’s stock valued at $170,780,000 after acquiring an additional 711,977 shares during the period. Southpoint Capital Advisors LP bought a new position in Laboratory Co. of America in the first quarter valued at about $137,652,000. Finally, BlackRock Inc. lifted its holdings in Laboratory Co. of America by 4.2% in the first quarter. BlackRock Inc. now owns 11,960,111 shares of the medical research company’s stock valued at $2,743,888,000 after acquiring an additional 485,342 shares during the period. 89.37% of the stock is owned by institutional investors.

Laboratory Co. of America Trading Up 1.0 %

LH stock traded up $2.06 during mid-day trading on Tuesday, hitting $203.23. 177,550 shares of the company were exchanged, compared to its average volume of 738,773. The company has a quick ratio of 2.12, a current ratio of 2.35 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $18.01 billion, a P/E ratio of 21.70 and a beta of 1.08. The business has a fifty day simple moving average of $212.29 and a 200-day simple moving average of $220.17. Laboratory Co. of America Holdings has a 12-month low of $166.93 and a 12-month high of $222.33.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings results on Thursday, July 27th. The medical research company reported $3.42 earnings per share for the quarter, missing the consensus estimate of $3.47 by ($0.05). Laboratory Co. of America had a return on equity of 14.62% and a net margin of 5.89%. The company had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter last year, the company earned $4.96 EPS. Laboratory Co. of America’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities research analysts predict that Laboratory Co. of America Holdings will post 13.68 earnings per share 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 8th. Investors of record on Tuesday, August 8th were given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.42%. The ex-dividend date was Monday, August 7th. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 31.07%.

Insider Buying and Selling

In other news, EVP Der Vaart Sandra D. Van sold 212 shares of the firm’s stock in a transaction that occurred on Thursday, June 29th. The shares were sold at an average price of $240.00, for a total transaction of $50,880.00. Following the completion of the transaction, the executive vice president now directly owns 7,605 shares of the company’s stock, valued at approximately $1,825,200. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Der Vaart Sandra D. Van sold 212 shares of the company’s stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $240.00, for a total value of $50,880.00. Following the completion of the transaction, the executive vice president now directly owns 7,605 shares in the company, valued at $1,825,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kerrii B. Anderson sold 5,000 shares of the stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $211.57, for a total transaction of $1,057,850.00. Following the transaction, the director now owns 15,275 shares in the company, valued at $3,231,731.75. The disclosure for this sale can be found here. Corporate insiders own 0.65% of the company’s stock.

Wall Street Analyst Weigh In

LH has been the topic of a number of recent research reports. Credit Suisse Group lowered their target price on Laboratory Co. of America from $247.41 to $231.00 and set an “outperform” rating on the stock in a report on Wednesday, August 2nd. Morgan Stanley dropped their price objective on shares of Laboratory Co. of America from $285.00 to $260.00 and set an “overweight” rating for the company in a research note on Thursday, August 3rd. UBS Group lowered their target price on shares of Laboratory Co. of America from $255.00 to $250.00 in a report on Monday. HSBC assumed coverage on Laboratory Co. of America in a research note on Wednesday, September 6th. They issued a “hold” rating and a $210.00 target price on the stock. Finally, Truist Financial reiterated a “buy” rating and issued a $270.00 price target on shares of Laboratory Co. of America in a report on Friday. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $246.00.

Laboratory Co. of America 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 and Labcorp Drug Development.