Transcend Capital Advisors LLC Trims Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

Transcend Capital Advisors LLC lessened its stake in Laboratory Co. of America Holdings (NYSE:LH) by 14.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,307 shares of the medical research company’s stock after selling 213 shares during the period. Transcend Capital Advisors LLC’s holdings in Laboratory Co. of America were worth $297,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Provence Wealth Management Group purchased a new stake in Laboratory Co. of America in the 3rd quarter worth approximately $29,000. Mendota Financial Group LLC acquired a new stake in Laboratory Co. of America during the fourth quarter valued at $29,000. Tradewinds Capital Management LLC purchased a new position in Laboratory Co. of America in the third quarter valued at $34,000. Exchange Traded Concepts LLC acquired a new position in shares of Laboratory Co. of America in the third quarter worth about $37,000. Finally, Bruce G. Allen Investments LLC purchased a new stake in shares of Laboratory Co. of America during the 4th quarter worth about $60,000. 95.94% of the stock is owned by institutional investors and hedge funds.

Laboratory Co. of America Trading Up 2.9 %

Shares of LH stock opened at $204.17 on Tuesday. Laboratory Co. of America Holdings has a twelve month low of $174.20 and a twelve month high of $234.09. The stock has a market cap of $17.18 billion, a price-to-earnings ratio of 41.08, a PEG ratio of 1.49 and a beta of 1.01. The company’s 50-day moving average price is $211.45 and its 200-day moving average price is $214.90. The company has a current ratio of 0.88, a quick ratio of 0.76 and a debt-to-equity ratio of 0.39.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings results on Thursday, April 25th. The medical research company reported $3.68 EPS for the quarter, beating the consensus estimate of $3.48 by $0.20. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.12 billion. Laboratory Co. of America had a net margin of 3.52% and a return on equity of 14.68%. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.82 EPS. As a group, equities analysts predict that Laboratory Co. of America Holdings will post 14.85 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 28th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Tuesday, May 28th. Laboratory Co. of America’s dividend payout ratio is presently 57.95%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on LH shares. Argus raised Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 price target for the company in a report on Monday, March 25th. Evercore ISI began coverage on shares of Laboratory Co. of America in a report on Friday, February 9th. They issued an “in-line” rating and a $240.00 price target for the company. Leerink Partnrs reiterated an “outperform” rating on shares of Laboratory Co. of America in a research report on Monday, February 26th. Robert W. Baird decreased their price target on shares of Laboratory Co. of America from $255.00 to $244.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, SVB Leerink started coverage on Laboratory Co. of America in a research note on Monday, February 26th. They set an “outperform” rating and a $260.00 price objective for the company. 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $243.14.

Insider Activity

In other news, COO Mark S. Schroeder sold 5,048 shares of Laboratory Co. of America stock in a transaction on Thursday, March 7th. The stock was 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 of the company’s stock, valued at $1,100,114.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Laboratory Co. of America news, COO Mark S. Schroeder sold 6,477 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $217.29, for a total value of $1,407,387.33. Following the completion of the transaction, the chief operating officer now owns 5,036 shares of the company’s stock, valued at approximately $1,094,272.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Mark S. Schroeder sold 5,048 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $218.45, for a total value of $1,102,735.60. Following the sale, the chief operating officer now directly owns 5,036 shares in the company, valued at approximately $1,100,114.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,305 shares of company stock valued at $11,761,059. Company insiders own 0.85% of the company’s stock.

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).