Laboratory Co. of America Holdings (NYSE:LH) Stock Holdings Decreased by MetLife Investment Management LLC

MetLife Investment Management LLC decreased its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 2.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,834 shares of the medical research company’s stock after selling 644 shares during the period. MetLife Investment Management LLC’s holdings in Laboratory Co. of America were worth $4,879,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of LH. Bank of New York Mellon Corp raised its holdings in shares of Laboratory Co. of America by 135.0% during the second quarter. Bank of New York Mellon Corp now owns 1,609,826 shares of the medical research company’s stock worth $327,616,000 after purchasing an additional 924,881 shares during the period. Diamond Hill Capital Management Inc. lifted its holdings in Laboratory Co. of America by 25.4% in the second quarter. Diamond Hill Capital Management Inc. now owns 1,949,640 shares of the medical research company’s stock worth $396,771,000 after acquiring an additional 395,197 shares during the last quarter. Select Equity Group L.P. acquired a new position in Laboratory Co. of America in the second quarter valued at approximately $73,928,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Laboratory Co. of America by 16.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,865,460 shares of the medical research company’s stock valued at $416,893,000 after purchasing an additional 263,105 shares during the last quarter. Finally, FMR LLC raised its position in shares of Laboratory Co. of America by 17.0% during the 3rd quarter. FMR LLC now owns 1,586,397 shares of the medical research company’s stock worth $354,528,000 after purchasing an additional 230,708 shares during the period. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Laboratory Co. of America Stock Performance

Shares of LH opened at $241.16 on Monday. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $247.99. The stock has a market capitalization of $20.17 billion, a P/E ratio of 46.65, a P/E/G ratio of 1.98 and a beta of 1.05. The firm’s 50 day moving average is $227.70 and its 200-day moving average is $218.25. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.44 and a quick ratio of 1.30.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.48 by $0.02. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.26 billion. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The firm’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.38 earnings per share. Equities research analysts anticipate that Laboratory Co. of America Holdings will post 14.53 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, November 26th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $2.88 dividend on an annualized basis and a yield of 1.19%. Laboratory Co. of America’s dividend payout ratio is currently 55.71%.

Insiders Place Their Bets

In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 1,000 shares of Laboratory Co. of America stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $230.00, for a total transaction of $230,000.00. Following the completion of the sale, the director now owns 13,722 shares of the company’s stock, valued at $3,156,060. This trade represents a 6.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Adam H. Schechter sold 6,189 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $243.47, for a total transaction of $1,506,835.83. Following the completion of the transaction, the chief executive officer now directly owns 87,441 shares in the company, valued at $21,289,260.27. This trade represents a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,861 shares of company stock worth $2,853,533. Company insiders own 0.85% of the company’s stock.

Wall Street Analyst Weigh In

LH has been the subject of a number of recent research reports. Jefferies Financial Group upped their price objective on Laboratory Co. of America from $245.00 to $265.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Evercore ISI dropped their price objective on shares of Laboratory Co. of America from $250.00 to $240.00 and set an “in-line” rating on the stock in a report on Tuesday, September 24th. Hsbc Global Res raised shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Robert W. Baird raised their price target on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, HSBC upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $255.92.

About Laboratory Co. of America

Labcorp Holdings Inc provides laboratory services. It operates through two segments, Diagnostics Laboratories and Biopharma Laboratory Services. The company offers various tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid, PAP, hemoglobin A1C and vitamin D, prostate-specific antigens, sexually transmitted diseases, hepatitis C, microbiology cultures and procedures, and alcohol and other substance-abuse tests.