Evercore Wealth Management LLC Sells 183 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Evercore Wealth Management LLC reduced its position in Laboratory Co. of America Holdings (NYSE:LH) by 6.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,832 shares of the medical research company’s stock after selling 183 shares during the quarter. Evercore Wealth Management LLC’s holdings in Laboratory Co. of America were worth $722,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of LH. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Laboratory Co. of America by 1,250.0% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 108 shares of the medical research company’s stock valued at $28,000 after purchasing an additional 100 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its stake in Laboratory Co. of America by 44.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 146 shares of the medical research company’s stock valued at $30,000 after buying an additional 45 shares in the last quarter. Childress Capital Advisors LLC bought a new position in Laboratory Co. of America in the fourth quarter valued at about $32,000. Grant Street Asset Management Inc. raised its stake in Laboratory Co. of America by 101.3% during the first quarter. Grant Street Asset Management Inc. now owns 157 shares of the medical research company’s stock worth $40,000 after acquiring an additional 79 shares in the last quarter. Finally, Penserra Capital Management LLC bought a new position in shares of Laboratory Co. of America in the fourth quarter worth about $47,000. Institutional investors own 88.90% of the company’s stock.

In other news, EVP Der Vaart Sandra D. Van sold 4,500 shares of the firm’s stock in a transaction dated Monday, June 7th. The stock was sold at an average price of $266.56, for a total value of $1,199,520.00. Following the completion of the sale, the executive vice president now directly owns 9,737 shares in the company, valued at approximately $2,595,494.72. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Paul R. Kirchgraber sold 2,500 shares of the firm’s stock in a transaction dated Thursday, May 6th. The shares were sold at an average price of $276.55, for a total value of $691,375.00. Following the completion of the sale, the chief executive officer now owns 7,844 shares of the company’s stock, valued at $2,169,258.20. The disclosure for this sale can be found here. Insiders have sold a total of 9,600 shares of company stock worth $2,590,711 over the last 90 days. Company insiders own 0.31% of the company’s stock.

Shares of LH opened at $277.49 on Thursday. The company has a quick ratio of 1.55, a current ratio of 1.67 and a debt-to-equity ratio of 0.50. The firm’s fifty day moving average price is $270.65. Laboratory Co. of America Holdings has a 12 month low of $170.05 and a 12 month high of $284.17. The company has a market capitalization of $27.11 billion, a PE ratio of 9.13, a P/E/G ratio of 1.14 and a beta of 1.04.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings data on Wednesday, April 28th. The medical research company reported $8.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.32 by $1.47. Laboratory Co. of America had a return on equity of 34.07% and a net margin of 17.26%. The company had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $3.88 billion. As a group, research analysts forecast that Laboratory Co. of America Holdings will post 22.9 EPS for the current fiscal year.

A number of equities analysts recently issued reports on the stock. Argus upped their price objective on shares of Laboratory Co. of America from $270.00 to $295.00 and gave the stock a “buy” rating in a research report on Thursday, May 20th. Truist increased their price target on Laboratory Co. of America from $300.00 to $320.00 in a research note on Monday, May 3rd. Citigroup boosted their price objective on Laboratory Co. of America from $278.00 to $312.00 in a research report on Monday, May 3rd. Truist Securities increased their target price on Laboratory Co. of America from $280.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, April 14th. Finally, Mizuho lifted their price target on Laboratory Co. of America from $267.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, May 12th. Thirteen research analysts have rated the stock with a buy rating, Laboratory Co. of America presently has a consensus rating of “Buy” and a consensus price target of $281.75.

Laboratory Co. of America Profile

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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