National Bank of Canada FI Has $10.98 Million Holdings in Laboratory Co. of America Holdings (NYSE:LH)

National Bank of Canada FI trimmed its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 12.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,802 shares of the medical research company’s stock after selling 6,800 shares during the period. National Bank of Canada FI’s holdings in Laboratory Co. of America were worth $10,976,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of LH. Trust Investment Advisors lifted its position in Laboratory Co. of America by 1.8% during the 4th quarter. Trust Investment Advisors now owns 2,567 shares of the medical research company’s stock valued at $583,000 after purchasing an additional 46 shares during the period. Atria Wealth Solutions Inc. raised its position in shares of Laboratory Co. of America by 2.8% in the 4th quarter. Atria Wealth Solutions Inc. now owns 1,969 shares of the medical research company’s stock valued at $448,000 after acquiring an additional 53 shares during the period. Caprock Group LLC boosted its stake in Laboratory Co. of America by 1.8% during the 4th quarter. Caprock Group LLC now owns 3,084 shares of the medical research company’s stock worth $701,000 after acquiring an additional 56 shares during the last quarter. Arjuna Capital increased its stake in Laboratory Co. of America by 3.2% in the third quarter. Arjuna Capital now owns 1,819 shares of the medical research company’s stock valued at $366,000 after purchasing an additional 57 shares in the last quarter. Finally, Greenleaf Trust raised its holdings in Laboratory Co. of America by 2.5% in the third quarter. Greenleaf Trust now owns 2,559 shares of the medical research company’s stock worth $514,000 after purchasing an additional 62 shares during the period. 95.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, EVP Der Vaart Sandra D. Van sold 237 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $226.45, for a total transaction of $53,668.65. Following the sale, the executive vice president now owns 7,637 shares in the company, valued at approximately $1,729,398.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Kerrii B. Anderson sold 250 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $200.10, for a total value of $50,025.00. Following the completion of the transaction, the director now owns 15,722 shares of the company’s stock, valued at $3,145,972.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 shares were sold at an average price of $226.45, for a total transaction of $53,668.65. Following the sale, the executive vice president now directly owns 7,637 shares in the company, valued at $1,729,398.65. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,985 shares of company stock worth $12,302,964. Company insiders own 0.85% of the company’s stock.

Laboratory Co. of America Price Performance

Shares of NYSE LH opened at $201.61 on Thursday. The firm has a market cap of $17.00 billion, a P/E ratio of 40.57, a price-to-earnings-growth ratio of 1.51 and a beta of 1.02. The business’s 50 day moving average is $209.55 and its 200-day moving average is $214.89. The company has a current ratio of 0.88, a quick ratio of 0.76 and a debt-to-equity ratio of 0.39. 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 (EPS) 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 company had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same quarter in the previous year, the business posted $3.82 earnings per share. Laboratory Co. of America’s quarterly revenue was up 4.6% on a year-over-year basis. Equities research analysts predict that Laboratory Co. of America Holdings will post 14.87 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 28th will be given a dividend of $0.72 per share. The ex-dividend date is Tuesday, May 28th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.43%. Laboratory Co. of America’s payout ratio is 57.95%.

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).