Keeley Teton Advisors LLC Has $1.17 Million Stake in Laboratory Co. of America Holdings (NYSE:LH)

Keeley Teton Advisors LLC reduced its position in shares of Laboratory Co. of America Holdings (NYSE:LHGet Rating) by 2.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,986 shares of the medical research company’s stock after selling 102 shares during the period. Keeley Teton Advisors LLC’s holdings in Laboratory Co. of America were worth $1,169,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Kentucky Retirement Systems raised its stake in Laboratory Co. of America by 6.3% in the first quarter. Kentucky Retirement Systems now owns 5,934 shares of the medical research company’s stock valued at $1,565,000 after buying an additional 350 shares during the period. JPMorgan Chase & Co. raised its stake in Laboratory Co. of America by 45.9% in the second quarter. JPMorgan Chase & Co. now owns 1,904,199 shares of the medical research company’s stock valued at $446,269,000 after buying an additional 598,645 shares during the period. ACG Wealth bought a new stake in Laboratory Co. of America in the second quarter valued at approximately $108,000. Busey Wealth Management increased its stake in shares of Laboratory Co. of America by 3.0% during the second quarter. Busey Wealth Management now owns 47,893 shares of the medical research company’s stock worth $11,225,000 after purchasing an additional 1,400 shares during the period. Finally, Bank of America Corp DE grew its position in Laboratory Co. of America by 16.7% during the first quarter. Bank of America Corp DE now owns 1,778,329 shares of the medical research company’s stock worth $468,873,000 after buying an additional 253,972 shares in the last quarter. 88.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Glenn A. Eisenberg sold 25,000 shares of the company’s stock in a transaction dated 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 directly owns 27,158 shares of the company’s stock, valued at $5,720,017.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Mark S. Schroeder sold 1,116 shares of the stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $232.67, for a total value of $259,659.72. Following the completion of the transaction, the executive vice president now directly owns 6,687 shares of the company’s stock, valued at $1,555,864.29. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction, the chief financial officer now directly owns 27,158 shares of the company’s stock, valued at approximately $5,720,017.96. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on LH shares. Citigroup cut their price objective on Laboratory Co. of America from $300.00 to $275.00 in a report on Friday, October 28th. Argus downgraded Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Monday, September 19th. William Blair reiterated an “outperform” rating on shares of Laboratory Co. of America in a research note on Thursday, October 27th. Truist Financial cut their price target on 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. Finally, Robert W. Baird cut their price target on Laboratory Co. of America from $297.00 to $270.00 in a research note on Friday, October 28th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Laboratory Co. of America presently has a consensus rating of “Moderate Buy” and a consensus price target of $268.75.

Laboratory Co. of America Stock Performance

NYSE LH opened at $238.29 on Thursday. The company has a 50-day simple moving average of $220.80 and a two-hundred day simple moving average 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 Holdings has a 12-month low of $200.32 and a 12-month high of $317.17. The firm has a market cap of $21.11 billion, a price-to-earnings ratio of 12.71 and a beta of 1.06.

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, beating 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 business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same period in the prior year, the business posted $6.82 earnings per share. The company’s revenue was down 11.2% on a year-over-year basis. On average, equities analysts forecast that Laboratory Co. of America Holdings will post 19.87 EPS for the current year.

Laboratory Co. of America Announces Dividend

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

About Laboratory Co. of America

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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).

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

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