Metis Global Partners LLC Sells 356 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Metis Global Partners LLC decreased its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 7.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 4,272 shares of the medical research company’s stock after selling 356 shares during the quarter. Metis Global Partners LLC’s holdings in Laboratory Co. of America were worth $971,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Connecticut Wealth Management LLC acquired a new position in shares of Laboratory Co. of America during the fourth quarter valued at about $664,000. Sapient Capital LLC acquired a new position in Laboratory Co. of America in the 4th quarter valued at approximately $332,000. Merit Financial Group LLC lifted its position in shares of Laboratory Co. of America by 10.1% in the 4th quarter. Merit Financial Group LLC now owns 1,148 shares of the medical research company’s stock worth $261,000 after acquiring an additional 105 shares during the period. Amalgamated Bank grew its holdings in shares of Laboratory Co. of America by 2.6% during the 4th quarter. Amalgamated Bank now owns 23,743 shares of the medical research company’s stock worth $5,397,000 after purchasing an additional 612 shares in the last quarter. Finally, Wilbanks Smith & Thomas Asset Management LLC increased its position in shares of Laboratory Co. of America by 12.2% during the fourth quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 50,963 shares of the medical research company’s stock valued at $11,583,000 after purchasing an additional 5,548 shares during the period. 95.94% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on LH shares. TheStreet downgraded shares of Laboratory Co. of America from a “b-” rating to a “c+” rating in a research note on Thursday, February 15th. Evercore ISI assumed coverage on shares of Laboratory Co. of America in a research report on Friday, February 9th. They set an “in-line” rating and a $240.00 target price on the stock. Barclays dropped their price target on shares of Laboratory Co. of America from $234.00 to $213.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Argus upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 price objective on the stock in a research note on Monday, March 25th. Finally, Truist Financial cut their target price on Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating for the company in a research report on Friday, April 26th. Four equities 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.com, Laboratory Co. of America has a consensus rating of “Moderate Buy” and a consensus target price of $243.14.

Laboratory Co. of America Price Performance

Shares of LH stock opened at $206.09 on Friday. The stock’s fifty day moving average is $209.09 and its 200-day moving average is $214.74. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.76 and a current ratio of 0.88. Laboratory Co. of America Holdings has a 52 week low of $174.20 and a 52 week high of $234.09. The stock has a market capitalization of $17.37 billion, a PE ratio of 41.47, a PEG ratio of 1.51 and a beta of 1.02.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings data on Thursday, April 25th. The medical research company reported $3.68 EPS for the quarter, topping 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 prior year, the firm earned $3.82 EPS. The company’s revenue was up 4.6% on a year-over-year basis. Equities research analysts expect that Laboratory Co. of America Holdings will post 14.87 EPS 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. Shareholders of record on Tuesday, May 28th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Tuesday, May 28th. Laboratory Co. of America’s dividend payout ratio is 57.95%.

Insider Activity

In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 250 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $200.10, for a total transaction of $50,025.00. Following the completion of the sale, the director now directly owns 15,722 shares of the company’s stock, valued at approximately $3,145,972.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 250 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $200.10, for a total value of $50,025.00. Following the transaction, the director now directly owns 15,722 shares of the company’s stock, valued at $3,145,972.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 237 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $1,729,398.65. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,985 shares of company stock valued at $12,302,964. Company insiders own 0.85% of the company’s stock.

Laboratory Co. of America Company 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).