Independent Advisor Alliance Sells 4,957 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Independent Advisor Alliance decreased its holdings in Laboratory Co. of America Holdings (NYSE:LH – Get Rating) by 75.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,654 shares of the medical research company’s stock after selling 4,957 shares during the quarter. Independent Advisor Alliance’s holdings in Laboratory Co. of America were worth $436,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MCF Advisors LLC purchased a new stake in Laboratory Co. of America in the 1st quarter valued at about $25,000. CarsonAllaria Wealth Management Ltd. purchased a new stake in Laboratory Co. of America in the 4th quarter valued at about $31,000. Washington Trust Advisors Inc. increased its stake in Laboratory Co. of America by 352.2% in the 1st quarter. Washington Trust Advisors Inc. now owns 104 shares of the medical research company’s stock valued at $27,000 after buying an additional 81 shares during the last quarter. Ellevest Inc. increased its stake in Laboratory Co. of America by 991.7% in the 1st quarter. Ellevest Inc. now owns 131 shares of the medical research company’s stock valued at $35,000 after buying an additional 119 shares during the last quarter. Finally, Allegheny Financial Group LTD purchased a new stake in Laboratory Co. of America in the 4th quarter valued at about $50,000. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, CAO Peter J. Wilkinson sold 2,576 shares of the firm’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $258.40, for a total value of $665,638.40. Following the completion of the transaction, the chief accounting officer now directly owns 1,887 shares of the company’s stock, valued at approximately $487,600.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Glenn A. Eisenberg sold 32,100 shares of Laboratory Co. of America stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $253.94, for a total transaction of $8,151,474.00. Following the completion of the sale, the chief financial officer now directly owns 52,158 shares of the company’s stock, valued at approximately $13,245,002.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Peter J. Wilkinson sold 2,576 shares of Laboratory Co. of America stock in a transaction on Monday, August 1st. The stock was sold at an average price of $258.40, for a total transaction of $665,638.40. Following the sale, the chief accounting officer now directly owns 1,887 shares of the company’s stock, valued at $487,600.80. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Laboratory Co. of America Stock Up 0.9 %

Laboratory Co. of America stock opened at $254.67 on Friday. Laboratory Co. of America Holdings has a 1-year low of $212.40 and a 1-year high of $317.17. The firm has a market capitalization of $23.61 billion, a price-to-earnings ratio of 12.19 and a beta of 1.03. The company has a current ratio of 1.90, a quick ratio of 1.74 and a debt-to-equity ratio of 0.52. The firm has a 50 day simple moving average of $241.12 and a 200 day simple moving average of $256.43.

Laboratory Co. of America (NYSE:LH – Get Rating) last announced its quarterly earnings results on Thursday, July 28th. The medical research company reported $4.95 EPS for the quarter, beating the consensus estimate of $4.60 by $0.35. Laboratory Co. of America had a net margin of 12.67% and a return on equity of 22.39%. The firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same period last year, the firm earned $6.13 EPS. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. On average, analysts predict that Laboratory Co. of America Holdings will post 20.15 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Thursday, August 18th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.13%. The ex-dividend date is Wednesday, August 17th. Laboratory Co. of America’s payout ratio is 13.78%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Truist Financial decreased their price objective on shares of Laboratory Co. of America from $350.00 to $320.00 in a research note on Friday, April 29th. Credit Suisse Group decreased their price target on shares of Laboratory Co. of America from $312.00 to $308.00 and set an “outperform” rating for the company in a research note on Monday, August 1st. Robert W. Baird raised their price target on shares of Laboratory Co. of America from $295.00 to $297.00 and gave the stock an “outperform” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Laboratory Co. of America from $294.00 to $265.00 in a research note on Tuesday, May 3rd. Finally, Mizuho decreased their price target on shares of Laboratory Co. of America from $354.00 to $323.00 in a research note on Wednesday, May 4th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $299.75.

About Laboratory Co. of America

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Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates in two segments, Labcorp Diagnostics (Dx) and Labcorp Drug Development (DD). It offers various tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C and vitamin D products, prostate-specific antigens, tests for sexually transmitted diseases, hepatitis C tests, microbiology cultures and procedures, and alcohol and other substance-abuse tests.