OLD National Bancorp IN Sells 1,178 Shares of Laboratory Co. of America Holdings (NYSE:LH)

OLD National Bancorp IN lessened its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 41.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,631 shares of the medical research company’s stock after selling 1,178 shares during the period. OLD National Bancorp IN’s holdings in Laboratory Co. of America were worth $371,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Provence Wealth Management Group bought a new stake in shares of Laboratory Co. of America during the third quarter worth $29,000. Mendota Financial Group LLC bought a new stake in shares of Laboratory Co. of America during the fourth quarter worth $29,000. Tradewinds Capital Management LLC bought a new stake in shares of Laboratory Co. of America during the third quarter worth $34,000. Exchange Traded Concepts LLC bought a new stake in shares of Laboratory Co. of America during the third quarter worth $37,000. Finally, Bruce G. Allen Investments LLC bought a new position in Laboratory Co. of America in the fourth quarter valued at about $60,000. Institutional investors own 95.94% of the company’s stock.

Analysts Set New Price Targets

LH has been the topic of several recent research reports. Evercore ISI initiated coverage on Laboratory Co. of America in a report on Friday, February 9th. They issued an “in-line” rating and a $240.00 price target on the stock. Barclays initiated coverage on Laboratory Co. of America in a report on Wednesday, January 3rd. They issued an “equal weight” rating and a $222.00 price target on the stock. Leerink Partnrs reiterated an “outperform” rating on shares of Laboratory Co. of America in a report on Monday, February 26th. TheStreet cut Laboratory Co. of America from a “b-” rating to a “c+” rating in a report on Thursday, February 15th. Finally, Argus upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 price target on the stock in a report on Monday, March 25th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $243.50.

Laboratory Co. of America Trading Down 0.0 %

NYSE LH opened at $207.94 on Thursday. The firm has a market cap of $17.49 billion, a P/E ratio of 44.53, a P/E/G ratio of 1.56 and a beta of 1.01. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.17 and a quick ratio of 1.02. The stock’s 50-day moving average is $212.54 and its 200-day moving average is $214.80. Laboratory Co. of America Holdings has a one year low of $174.20 and a one year high of $234.09.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings results on Thursday, February 15th. The medical research company reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.29 by $0.01. The company had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.02 billion. Laboratory Co. of America had a return on equity of 13.99% and a net margin of 3.24%. Laboratory Co. of America’s revenue was down 17.5% compared to the same quarter last year. During the same quarter last year, the firm posted $4.14 earnings per share. Sell-side analysts anticipate that Laboratory Co. of America Holdings will post 14.84 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Tuesday, May 28th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, May 24th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.39%. Laboratory Co. of America’s payout ratio is presently 61.67%.

Insider Buying and Selling

In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 237 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $226.45, for a total value of $53,668.65. Following the completion of the transaction, the executive vice president now directly owns 7,637 shares in the company, valued at $1,729,398.65. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Der Vaart Sandra D. Van sold 237 shares of Laboratory Co. of America stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $226.45, for a total transaction of $53,668.65. Following the completion of the transaction, the executive vice president now directly owns 7,637 shares in the company, valued at approximately $1,729,398.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Mark S. Schroeder sold 5,048 shares of Laboratory Co. of America stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $218.45, for a total value of $1,102,735.60. Following the transaction, the chief operating officer now owns 5,036 shares of the company’s stock, valued at $1,100,114.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,305 shares of company stock worth $11,761,059. 0.85% of the stock is owned by corporate insiders.

About Laboratory Co. of America

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).