Transcend Capital Advisors LLC Has $297,000 Stock Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Transcend Capital Advisors LLC cut its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 14.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,307 shares of the medical research company’s stock after selling 213 shares during the period. Transcend Capital Advisors LLC’s holdings in Laboratory Co. of America were worth $297,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of LH. Provence Wealth Management Group bought a new stake in shares of Laboratory Co. of America during the 3rd quarter valued at approximately $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 acquired a new position in shares of Laboratory Co. of America during the third quarter worth $34,000. Exchange Traded Concepts LLC bought a new position in shares of Laboratory Co. of America in the 3rd quarter valued at $37,000. Finally, Bruce G. Allen Investments LLC bought a new stake in Laboratory Co. of America during the 4th quarter worth $60,000. Institutional investors and hedge funds own 95.94% of the company’s stock.

Laboratory Co. of America Stock Up 2.9 %

NYSE LH opened at $204.17 on Tuesday. The business’s 50-day moving average is $211.45 and its 200 day moving average is $214.90. The stock has a market capitalization of $17.18 billion, a PE ratio of 41.08, a PEG ratio of 1.49 and a beta of 1.01. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.88 and a quick ratio of 0.76. Laboratory Co. of America Holdings has a 1 year low of $174.20 and a 1 year high of $234.09.

Laboratory Co. of America (NYSE:LH) last announced its earnings results on Thursday, April 25th. The medical research company reported $3.68 earnings per share for the quarter, beating analysts’ consensus estimates of $3.48 by $0.20. Laboratory Co. of America had a net margin of 3.52% and a return on equity of 14.68%. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the previous year, the firm posted $3.82 EPS. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. Sell-side analysts forecast that Laboratory Co. of America Holdings will post 14.85 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 28th will be issued a dividend of $0.72 per share. The ex-dividend date is Tuesday, May 28th. This represents a $2.88 annualized dividend and a dividend yield of 1.41%. Laboratory Co. of America’s payout ratio is 57.95%.

Insider Transactions at Laboratory Co. of America

In other news, CMO Amy B. Summy sold 227 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $218.45, for a total value of $49,588.15. Following the sale, the chief marketing officer now directly owns 3,859 shares of the company’s stock, valued at $842,998.55. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CMO Amy B. Summy sold 227 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $218.45, for a total transaction of $49,588.15. Following the completion of the sale, the chief marketing officer now owns 3,859 shares of the company’s stock, valued at $842,998.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Amy B. Summy sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $217.29, for a total value of $760,515.00. Following the completion of the transaction, the chief marketing officer now directly owns 3,975 shares in the company, valued at $863,727.75. The disclosure for this sale can be found here. Insiders have sold a total of 54,305 shares of company stock valued at $11,761,059 in the last ninety days. 0.85% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LH. Truist Financial decreased their price target on shares of Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating for the company in a research report on Friday. TheStreet downgraded Laboratory Co. of America from a “b-” rating to a “c+” rating in a research report on Thursday, February 15th. SVB Leerink assumed coverage on shares of Laboratory Co. of America in a research report on Monday, February 26th. They set an “outperform” rating and a $260.00 target price for the company. Leerink Partnrs restated an “outperform” rating on shares of Laboratory Co. of America in a report on Monday, February 26th. Finally, Barclays reduced their price objective on shares of Laboratory Co. of America from $234.00 to $213.00 and set an “equal weight” rating on the stock in a research note on Friday. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $243.14.

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 (Dx) and Biopharma Laboratory Services (BLS).