Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lowered its position in shares of Laboratory Co. of America Holdings (NYSE:LHGet Rating) by 8.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 426,926 shares of the medical research company’s stock after selling 41,376 shares during the period. Franklin Resources Inc. owned 0.46% of Laboratory Co. of America worth $100,055,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. MCF Advisors LLC acquired a new position in Laboratory Co. of America in the first quarter valued at $25,000. Tcwp LLC acquired a new position in Laboratory Co. of America in the first quarter valued at $26,000. Jones Financial Companies Lllp boosted its stake in Laboratory Co. of America by 91.4% in the second quarter. Jones Financial Companies Lllp now owns 111 shares of the medical research company’s stock valued at $26,000 after acquiring an additional 53 shares in the last quarter. Washington Trust Advisors Inc. boosted its stake in Laboratory Co. of America by 352.2% in the first quarter. Washington Trust Advisors Inc. now owns 104 shares of the medical research company’s stock valued at $27,000 after acquiring an additional 81 shares in the last quarter. Finally, WFA of San Diego LLC acquired a new position in Laboratory Co. of America in the second quarter valued at $30,000. Institutional investors and hedge funds own 88.82% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on LH. Mizuho decreased their price objective on shares of Laboratory Co. of America from $296.00 to $250.00 and set a “buy” rating for the company in a research note on Thursday, November 3rd. Truist Financial decreased their target price on shares of Laboratory Co. of America from $275.00 to $260.00 and set a “buy” rating for the company in a research note on Friday, October 28th. Morgan Stanley decreased their target price on shares of Laboratory Co. of America from $300.00 to $290.00 and set an “overweight” rating for the company in a research note on Monday, October 31st. Citigroup decreased their target price on shares of Laboratory Co. of America from $300.00 to $275.00 in a research note on Friday, October 28th. Finally, Robert W. Baird decreased their target price on shares of Laboratory Co. of America from $297.00 to $270.00 in a research note on Friday, October 28th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $268.75.

Insider Buying and Selling

In related news, CFO Glenn A. Eisenberg sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $210.62, for a total transaction of $5,265,500.00. Following the sale, the chief financial officer now owns 27,158 shares in the company, valued at $5,720,017.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Laboratory Co. of America news, EVP Mark S. Schroeder sold 1,116 shares of Laboratory Co. of America stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $232.67, for a total value of $259,659.72. Following the transaction, the executive vice president now owns 6,687 shares in the company, valued at approximately $1,555,864.29. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Glenn A. Eisenberg sold 25,000 shares of Laboratory Co. of America stock in a transaction on Monday, September 26th. The shares were sold at an average price of $210.62, for a total transaction of $5,265,500.00. Following the completion of the transaction, the chief financial officer now owns 27,158 shares in the company, valued at approximately $5,720,017.96. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

Laboratory Co. of America Trading Up 0.7 %

NYSE LH opened at $238.29 on Thursday. The stock has a market capitalization of $21.11 billion, a P/E ratio of 12.71 and a beta of 1.06. Laboratory Co. of America Holdings has a 52-week low of $200.32 and a 52-week high of $317.17. The firm has a 50-day moving average price of $220.80 and a 200 day moving average price of $234.46. The company has a quick ratio of 1.55, a current ratio of 1.73 and a debt-to-equity ratio of 0.54.

Laboratory Co. of America (NYSE:LHGet Rating) last posted its quarterly earnings results on Thursday, October 27th. The medical research company reported $4.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.67 by $0.01. Laboratory Co. of America had a net margin of 11.51% and a return on equity of 20.33%. The firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same period in the prior year, the company posted $6.82 earnings per share. The firm’s revenue for the quarter was down 11.2% on a year-over-year basis. Equities research analysts expect that Laboratory Co. of America Holdings will post 19.87 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Thursday, November 17th will be given a dividend of $0.72 per share. The ex-dividend date is Wednesday, November 16th. This represents a $2.88 dividend on an annualized basis and a yield of 1.21%. Laboratory Co. of America’s dividend payout ratio (DPR) is currently 15.36%.

Laboratory Co. of America Company Profile

(Get Rating)

Laboratory Corporation of America Holdings operates as a global 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 Labcorp Drug Development (DD).

See Also

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

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