Xponance Inc. Sells 850 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Xponance Inc. cut its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 6.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 12,153 shares of the medical research company’s stock after selling 850 shares during the period. Xponance Inc.’s holdings in Laboratory Co. of America were worth $2,473,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its position in 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 valued at $327,616,000 after buying an additional 924,881 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Laboratory Co. of America by 58.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,613,854 shares of the medical research company’s stock valued at $352,563,000 after acquiring an additional 597,571 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in Laboratory Co. of America by 25.4% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,949,640 shares of the medical research company’s stock valued at $396,771,000 after acquiring an additional 395,197 shares during the period. Veritas Investment Partners UK Ltd. grew its position in Laboratory Co. of America by 32.5% during the 4th quarter. Veritas Investment Partners UK Ltd. now owns 1,140,300 shares of the medical research company’s stock worth $259,133,000 after acquiring an additional 279,628 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its stake in Laboratory Co. of America by 2,750.2% in the 4th quarter. Public Sector Pension Investment Board now owns 270,483 shares of the medical research company’s stock worth $61,478,000 after purchasing an additional 260,993 shares during the period. 95.94% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Lance Berberian sold 12,093 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $229.10, for a total value of $2,770,506.30. Following the completion of the transaction, the executive vice president now directly owns 15,921 shares in the company, valued at approximately $3,647,501.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $227.05, for a total value of $454,100.00. Following the transaction, the executive vice president now owns 3,670 shares in the company, valued at approximately $833,273.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Lance Berberian sold 12,093 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $229.10, for a total transaction of $2,770,506.30. Following the sale, the executive vice president now owns 15,921 shares of the company’s stock, valued at $3,647,501.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,679 shares of company stock worth $6,716,306. Corporate insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Performance

Shares of LH opened at $220.28 on Friday. The company has a 50-day simple moving average of $223.22 and a two-hundred day simple moving average of $211.61. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.88 and a quick ratio of 0.77. The firm has a market capitalization of $18.57 billion, a PE ratio of 44.32, a price-to-earnings-growth ratio of 1.74 and a beta of 1.06. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year high of $238.46.

Laboratory Co. of America (NYSE:LH) last released its earnings results on Thursday, August 1st. The medical research company reported $3.94 EPS for the quarter, beating analysts’ consensus estimates of $3.78 by $0.16. Laboratory Co. of America had a return on equity of 15.39% and a net margin of 3.60%. The company had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.19 billion. During the same quarter last year, the business posted $3.42 EPS. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, analysts anticipate that Laboratory Co. of America Holdings will post 14.61 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 29th were given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.31%. The ex-dividend date was Thursday, August 29th. Laboratory Co. of America’s dividend payout ratio is currently 57.95%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on LH shares. UBS Group raised their target price on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Robert W. Baird raised their price target on shares of Laboratory Co. of America from $278.00 to $282.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. StockNews.com upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. Bank of America increased their target price on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, Barclays boosted their price target on Laboratory Co. of America from $213.00 to $249.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $254.50.

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).