Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Connectus Wealth LLC

Connectus Wealth LLC cut its holdings in shares of Laboratory Co. of America Holdings (NYSE:LHGet Rating) by 13.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,983 shares of the medical research company’s stock after selling 296 shares during the period. Connectus Wealth LLC’s holdings in Laboratory Co. of America were worth $623,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of LH. Camden Capital LLC lifted its position in shares of Laboratory Co. of America by 12.4% during the first quarter. Camden Capital LLC now owns 2,089 shares of the medical research company’s stock worth $551,000 after purchasing an additional 230 shares during the last quarter. Balentine LLC lifted its position in shares of Laboratory Co. of America by 65.9% during the first quarter. Balentine LLC now owns 1,150 shares of the medical research company’s stock worth $303,000 after purchasing an additional 457 shares during the last quarter. Twin Capital Management Inc. lifted its position in shares of Laboratory Co. of America by 165.0% during the first quarter. Twin Capital Management Inc. now owns 5,845 shares of the medical research company’s stock worth $1,541,000 after purchasing an additional 3,639 shares during the last quarter. Smith Graham & Co. Investment Advisors LP lifted its position in shares of Laboratory Co. of America by 3.6% during the first quarter. Smith Graham & Co. Investment Advisors LP now owns 16,326 shares of the medical research company’s stock worth $4,305,000 after purchasing an additional 565 shares during the last quarter. Finally, AIA Group Ltd lifted its position in shares of Laboratory Co. of America by 596.9% during the first quarter. AIA Group Ltd now owns 6,864 shares of the medical research company’s stock worth $1,810,000 after purchasing an additional 5,879 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Laboratory Co. of America

In related news, CFO Glenn A. Eisenberg sold 32,100 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 52,158 shares in the company, valued at $13,245,002.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Glenn A. Eisenberg sold 32,100 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 52,158 shares in the company, valued at $13,245,002.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Peter J. Wilkinson sold 2,576 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $258.40, for a total transaction of $665,638.40. Following the transaction, the chief accounting officer now owns 1,887 shares in the company, valued at approximately $487,600.80. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

Laboratory Co. of America Price Performance

Shares of NYSE:LH opened at $254.67 on Friday. The firm’s 50 day moving average is $241.12 and its two-hundred day moving average is $256.43. Laboratory Co. of America Holdings has a 52 week low of $212.40 and a 52 week high of $317.17. The firm has a market capitalization of $23.61 billion, a P/E 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.

Laboratory Co. of America (NYSE:LHGet 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 company had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same quarter last year, the business earned $6.13 earnings per share. Laboratory Co. of America’s revenue was down 3.7% compared to the same quarter last year. Analysts anticipate that Laboratory Co. of America Holdings will post 20.21 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 paid a $0.72 dividend. The ex-dividend date is Wednesday, August 17th. This represents a $2.88 annualized dividend and a dividend yield of 1.13%. Laboratory Co. of America’s payout ratio is currently 13.78%.

Analyst Ratings Changes

LH has been the topic of several research analyst reports. Morgan Stanley reduced their price target on shares of Laboratory Co. of America from $360.00 to $300.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 25th. Wells Fargo & Company cut their target price on shares of Laboratory Co. of America from $290.00 to $235.00 and set an “equal weight” rating on the stock in a report on Monday, April 25th. Credit Suisse Group cut their target price on shares of Laboratory Co. of America from $312.00 to $308.00 and set an “outperform” rating on the stock in a report on Monday, August 1st. Mizuho cut their target price on shares of Laboratory Co. of America from $354.00 to $323.00 in a report on Wednesday, May 4th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Laboratory Co. of America from $294.00 to $265.00 in a report on Tuesday, May 3rd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $299.75.

Laboratory Co. of America Profile

(Get Rating)

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.

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Institutional Ownership by Quarter for Laboratory Co. of America (NYSE:LH)

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