Weybosset Research & Management LLC Cuts Position in Laboratory Co. of America Holdings (NYSE:LH)

Weybosset Research & Management LLC lowered its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 1.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 39,149 shares of the medical research company’s stock after selling 613 shares during the quarter. Laboratory Co. of America accounts for about 3.2% of Weybosset Research & Management LLC’s holdings, making the stock its 15th biggest position. Weybosset Research & Management LLC’s holdings in Laboratory Co. of America were worth $8,552,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Provence Wealth Management Group acquired a new position in Laboratory Co. of America during the third quarter worth $29,000. Mendota Financial Group LLC acquired a new position in shares of Laboratory Co. of America during the 4th quarter worth $29,000. Tradewinds Capital Management LLC acquired a new position in shares of Laboratory Co. of America during the 3rd quarter worth $34,000. Exchange Traded Concepts LLC purchased a new stake in shares of Laboratory Co. of America in the 3rd quarter worth about $37,000. Finally, Bruce G. Allen Investments LLC acquired a new stake in Laboratory Co. of America in the 4th quarter valued at about $60,000. 95.94% of the stock is owned by institutional investors and hedge funds.

Laboratory Co. of America Trading Up 2.9 %

Laboratory Co. of America stock traded up $5.77 during trading on Monday, reaching $204.17. The company had a trading volume of 1,415,308 shares, compared to its average volume of 766,689. Laboratory Co. of America Holdings has a 12-month low of $174.20 and a 12-month high of $234.09. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.76 and a current ratio of 0.88. The stock’s 50 day moving average price is $211.45 and its two-hundred day moving average price is $214.90. The firm has a market capitalization of $17.18 billion, a price-to-earnings ratio of 41.08, a PEG ratio of 1.49 and a beta of 1.01.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings data on Thursday, April 25th. The medical research company reported $3.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.48 by $0.20. The company had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.12 billion. Laboratory Co. of America had a net margin of 3.52% and a return on equity of 14.68%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the company earned $3.82 EPS. As a group, equities analysts expect that Laboratory Co. of America Holdings will post 14.85 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 28th will be issued a $0.72 dividend. The ex-dividend date is Tuesday, May 28th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.41%. Laboratory Co. of America’s dividend payout ratio (DPR) is 57.95%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. SVB Leerink started coverage on shares of Laboratory Co. of America in a research report on Monday, February 26th. They set an “outperform” rating and a $260.00 target price for the company. Robert W. Baird cut their price objective on Laboratory Co. of America from $255.00 to $244.00 and set an “outperform” rating for the company in a research report on Friday. Evercore ISI assumed coverage on Laboratory Co. of America in a report on Friday, February 9th. They set an “in-line” rating and a $240.00 target price on the stock. TheStreet cut Laboratory Co. of America from a “b-” rating to a “c+” rating in a report on Thursday, February 15th. Finally, Leerink Partnrs reaffirmed an “outperform” rating on shares of Laboratory Co. of America in a research note on Monday, February 26th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $243.14.

Insider Transactions at Laboratory Co. of America

In other news, EVP Der Vaart Sandra D. Van sold 237 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $226.45, for a total value of $53,668.65. Following the completion of the sale, the executive vice president now owns 7,637 shares of the company’s stock, valued at $1,729,398.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CMO Amy B. Summy sold 3,500 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $217.29, for a total transaction of $760,515.00. Following the sale, the chief marketing officer now directly owns 3,975 shares in the company, valued at approximately $863,727.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 completion of the sale, the executive vice president now directly 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. Insiders have sold a total of 54,305 shares of company stock worth $11,761,059 in the last three months. 0.85% of the stock is currently owned by company insiders.

About Laboratory Co. of America

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).