AMI Asset Management Corp Lowers Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

AMI Asset Management Corp trimmed its position in Laboratory Co. of America Holdings (NYSE:LH) by 2.3% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 209,179 shares of the medical research company’s stock after selling 4,818 shares during the period. Laboratory Co. of America comprises 2.5% of AMI Asset Management Corp’s investment portfolio, making the stock its 16th biggest position. AMI Asset Management Corp’s holdings in Laboratory Co. of America were worth $46,747,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Diamond Hill Capital Management Inc. grew its position in Laboratory Co. of America by 25.4% during the second 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 buying an additional 395,197 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Laboratory Co. of America by 16.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,865,460 shares of the medical research company’s stock worth $416,893,000 after purchasing an additional 263,105 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Laboratory Co. of America by 135.0% in the 2nd 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. Dimensional Fund Advisors LP lifted its position in shares of Laboratory Co. of America by 2.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,417,645 shares of the medical research company’s stock valued at $288,519,000 after buying an additional 33,497 shares during the last quarter. Finally, Cooke & Bieler LP increased its holdings in Laboratory Co. of America by 26.8% in the 2nd quarter. Cooke & Bieler LP now owns 928,250 shares of the medical research company’s stock worth $188,908,000 after acquiring an additional 196,119 shares during the last quarter. 95.94% of the stock is owned by institutional investors.

Laboratory Co. of America Trading Up 0.4 %

Shares of LH stock opened at $229.01 on Wednesday. The stock’s 50 day simple moving average is $222.68 and its two-hundred day simple moving average is $212.75. The company has a market cap of $19.23 billion, a PE ratio of 44.12, a price-to-earnings-growth ratio of 1.77 and a beta of 1.05. 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 Holdings has a 1 year low of $191.97 and a 1 year high of $239.50.

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

Laboratory Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, November 26th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Tuesday, November 26th. Laboratory Co. of America’s payout ratio is currently 55.71%.

Insider Buying and Selling at Laboratory Co. of America

In other news, EVP Lance Berberian sold 12,093 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $229.10, for a total value of $2,770,506.30. Following the completion of the sale, the executive vice president now owns 15,921 shares of the company’s stock, valued at $3,647,501.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Lance Berberian sold 12,093 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was 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 owns 15,921 shares in the company, valued at $3,647,501.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kerrii B. Anderson sold 586 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $225.00, for a total value of $131,850.00. Following the completion of the transaction, the director now owns 14,722 shares of the company’s stock, valued at approximately $3,312,450. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,679 shares of company stock valued at $6,946,306. 0.85% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LH. Robert W. Baird upped 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. Barclays raised their price objective on shares of Laboratory Co. of America from $234.00 to $249.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Laboratory Co. of America from $220.00 to $230.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Truist Financial increased their price target on shares of Laboratory Co. of America from $255.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Bank of America increased their target price on Laboratory Co. of America from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $253.92.

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.