Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC lowered its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 5.9% in the 4th quarter, Holdings Channel reports. The fund owned 3,019 shares of the medical research company’s stock after selling 190 shares during the period. Resonant Capital Advisors LLC’s holdings in Laboratory Co. of America were worth $686,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Eagle Bay Advisors LLC bought a new position in shares of Laboratory Co. of America during the second quarter worth about $29,000. Mendota Financial Group LLC bought a new position in Laboratory Co. of America in the 4th quarter valued at about $29,000. Provence Wealth Management Group bought a new position in Laboratory Co. of America in the 3rd quarter valued at about $29,000. Tradewinds Capital Management LLC bought a new position in Laboratory Co. of America in the 3rd quarter valued at about $34,000. Finally, Exchange Traded Concepts LLC bought a new position in Laboratory Co. of America in the 3rd quarter valued at about $37,000. Institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Stock Performance

Laboratory Co. of America stock opened at $201.48 on Friday. The firm’s 50 day simple moving average is $213.74 and its 200-day simple moving average is $214.60. The company has a market cap of $16.95 billion, a P/E ratio of 43.14, a price-to-earnings-growth ratio of 1.50 and a beta of 1.01. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.17 and a quick ratio of 1.02. Laboratory Co. of America Holdings has a fifty-two week low of $174.20 and a fifty-two week high of $234.09.

Laboratory Co. of America (NYSE:LH) last released its earnings results on Thursday, February 15th. The medical research company reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.29 by $0.01. The business had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.02 billion. Laboratory Co. of America had a net margin of 3.24% and a return on equity of 13.99%. The firm’s quarterly revenue was down 17.5% compared to the same quarter last year. During the same period last year, the firm posted $4.14 earnings per share. As a group, equities research analysts predict that Laboratory Co. of America Holdings will post 14.84 EPS for the current year.

Laboratory Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Tuesday, May 28th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend is Friday, May 24th. Laboratory Co. of America’s dividend payout ratio is currently 61.67%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on LH shares. TheStreet lowered shares of Laboratory Co. of America from a “b-” rating to a “c+” rating in a research report on Thursday, February 15th. Leerink Partnrs reiterated an “outperform” rating on shares of Laboratory Co. of America in a research report on Monday, February 26th. SVB Leerink began coverage on shares of Laboratory Co. of America in a research report on Monday, February 26th. They issued an “outperform” rating and a $260.00 target price for the company. Argus upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 price objective for the company in a research report on Monday, March 25th. Finally, Evercore ISI began coverage on shares of Laboratory Co. of America in a research note on Friday, February 9th. They issued an “in-line” rating and a $240.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Laboratory Co. of America has an average rating of “Moderate Buy” and an average price target of $243.50.

Insider Buying and Selling

In related news, COO Mark S. Schroeder sold 5,048 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $218.45, for a total transaction of $1,102,735.60. Following the completion of the sale, the chief operating officer now directly owns 5,036 shares in the company, valued at $1,100,114.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Laboratory Co. of America news, COO Mark S. Schroeder sold 5,048 shares of Laboratory Co. of America stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $218.45, for a total value of $1,102,735.60. Following the completion of the sale, the chief operating officer now directly owns 5,036 shares in the company, valued at $1,100,114.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 259 shares of Laboratory Co. of America stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $222.06, for a total transaction of $57,513.54. Following the completion of the sale, the executive vice president now owns 7,637 shares of the company’s stock, valued at $1,695,872.22. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,305 shares of company stock worth $11,761,059. 0.85% of the stock is owned by company insiders.

Laboratory Co. of America Company Profile

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).