Shikiar Asset Management Inc. Sells 2,590 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Shikiar Asset Management Inc. lessened its position in Laboratory Co. of America Holdings (NYSE:LH) by 56.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,990 shares of the medical research company’s stock after selling 2,590 shares during the quarter. Shikiar Asset Management Inc.’s holdings in Laboratory Co. of America were worth $452,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Provence Wealth Management Group bought a new position in Laboratory Co. of America in the third quarter valued at $29,000. Mendota Financial Group LLC purchased a new stake in Laboratory Co. of America during the fourth quarter valued at about $29,000. Eagle Bay Advisors LLC purchased a new stake in Laboratory Co. of America during the second quarter valued at about $29,000. Tradewinds Capital Management LLC purchased a new stake in Laboratory Co. of America during the third quarter valued at about $34,000. Finally, Exchange Traded Concepts LLC purchased a new stake in Laboratory Co. of America during the third quarter valued at about $37,000. Institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Stock Performance

NYSE LH traded up $2.03 during mid-day trading on Friday, reaching $201.48. 768,208 shares of the stock were exchanged, compared to its average volume of 628,179. The business’s 50 day moving average is $213.74 and its 200-day moving average is $214.70. Laboratory Co. of America Holdings has a 1 year low of $174.20 and a 1 year high of $234.09. The company has a market capitalization of $16.95 billion, a P/E ratio of 43.14, a P/E/G ratio of 1.51 and a beta of 1.01. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.02 and a current ratio of 1.17.

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

Laboratory Co. of America Dividend Announcement

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

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, CMO Amy B. Summy sold 227 shares of Laboratory Co. of America stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $218.45, for a total transaction of $49,588.15. Following the completion of the sale, the chief marketing officer now directly owns 3,859 shares in the company, valued at $842,998.55. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Glenn A. Eisenberg sold 34,504 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $215.97, for a total value of $7,451,828.88. Following the completion of the transaction, the chief financial officer now owns 23,595 shares of the company’s stock, valued at $5,095,812.15. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CMO Amy B. Summy sold 227 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 $49,588.15. Following the completion of the transaction, the chief marketing officer now directly owns 3,859 shares of the company’s stock, valued at approximately $842,998.55. The disclosure for this sale can be found here. Insiders sold a total of 54,305 shares of company stock worth $11,761,059 over the last three months. Insiders own 0.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on LH shares. Leerink Partnrs restated 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 set an “outperform” rating and a $260.00 price target for the company. Evercore ISI initiated coverage on shares of Laboratory Co. of America in a research report on Friday, February 9th. They set an “in-line” rating and a $240.00 price target 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 target on the stock in a research note on Monday, March 25th. Finally, Barclays began coverage on shares of Laboratory Co. of America in a report on Wednesday, January 3rd. They issued an “equal weight” rating and a $222.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.50.

Laboratory Co. of America 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).