QRG Capital Management Inc. Trims Stock Holdings in Laboratory Co. of America Holdings (NYSE:LH)

QRG Capital Management Inc. cut its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 62.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,591 shares of the medical research company’s stock after selling 29,721 shares during the period. QRG Capital Management Inc.’s holdings in Laboratory Co. of America were worth $3,931,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. National Pension Service boosted its stake in Laboratory Co. of America by 1.5% during the 3rd quarter. National Pension Service now owns 159,040 shares of the medical research company’s stock worth $35,542,000 after purchasing an additional 2,404 shares during the period. Cohen Capital Management Inc. lifted its position in Laboratory Co. of America by 2.3% during the 3rd quarter. Cohen Capital Management Inc. now owns 14,896 shares of the medical research company’s stock worth $3,329,000 after acquiring an additional 330 shares during the period. Van ECK Associates Corp grew its stake in shares of Laboratory Co. of America by 5.3% in the 3rd quarter. Van ECK Associates Corp now owns 13,868 shares of the medical research company’s stock valued at $3,050,000 after purchasing an additional 694 shares during the last quarter. White Pine Investment CO lifted its holdings in shares of Laboratory Co. of America by 1.6% during the third quarter. White Pine Investment CO now owns 19,078 shares of the medical research company’s stock worth $4,264,000 after purchasing an additional 309 shares during the period. Finally, Farther Finance Advisors LLC raised its position in Laboratory Co. of America by 17.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,385 shares of the medical research company’s stock worth $310,000 after buying an additional 208 shares during the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on LH. Bank of America boosted their target price on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Evercore ISI lowered their price target on shares of Laboratory Co. of America from $250.00 to $240.00 and set an “in-line” rating on the stock in a research note on Tuesday, September 24th. Robert W. Baird increased 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 report on Friday, October 25th. StockNews.com downgraded shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Laboratory Co. of America from $220.00 to $230.00 and gave the company a “hold” rating in a report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $255.92.

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 15,000 shares of Laboratory Co. of America stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $223.99, for a total value of $3,359,850.00. Following the completion of the sale, the chief financial officer now directly owns 31,289 shares of the company’s stock, valued at approximately $7,008,423.11. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 15,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $223.99, for a total value of $3,359,850.00. Following the sale, the chief financial officer now directly owns 31,289 shares of the company’s stock, valued at approximately $7,008,423.11. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $454,100.00. Following the transaction, the executive vice president now directly owns 3,670 shares of the company’s stock, valued at approximately $833,273.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,000 shares of company stock valued at $4,043,950. Company insiders own 0.85% of the company’s stock.

Laboratory Co. of America Price Performance

Shares of NYSE:LH opened at $234.38 on Thursday. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year high of $239.50. The stock has a market cap of $19.60 billion, a PE ratio of 45.33, a price-to-earnings-growth ratio of 1.87 and a beta of 1.05. The business’s fifty day moving average price is $222.59 and its two-hundred day moving average price is $213.85. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.44.

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

Laboratory Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, November 26th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Tuesday, November 26th. Laboratory Co. of America’s dividend payout ratio is presently 55.71%.

Laboratory Co. of America Company Profile

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.