Rockefeller Capital Management L.P. Has $3 Million Stock Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Rockefeller Capital Management L.P. decreased its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 35.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 13,437 shares of the medical research company’s stock after selling 7,306 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Laboratory Co. of America were worth $3,003,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Public Sector Pension Investment Board increased its position in shares of Laboratory Co. of America by 9.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 3,572 shares of the medical research company’s stock valued at $798,000 after buying an additional 300 shares in the last quarter. Financial Counselors Inc. acquired a new position in shares of Laboratory Co. of America during the 3rd quarter worth about $12,862,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Laboratory Co. of America by 5.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 914,019 shares of the medical research company’s stock worth $204,265,000 after buying an additional 49,203 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Laboratory Co. of America by 14.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,689 shares of the medical research company’s stock valued at $3,953,000 after purchasing an additional 2,234 shares during the last quarter. Finally, CreativeOne Wealth LLC lifted its position in Laboratory Co. of America by 19.7% during the third quarter. CreativeOne Wealth LLC now owns 1,488 shares of the medical research company’s stock worth $332,000 after acquiring an additional 245 shares during the last quarter. Institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Price Performance

LH stock opened at $234.96 on Friday. The firm has a market cap of $19.65 billion, a price-to-earnings ratio of 45.45, a PEG ratio of 1.98 and a beta of 1.05. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.66. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $247.99. The company’s fifty day simple moving average is $229.08 and its 200 day simple moving average is $218.90.

Laboratory Co. of America (NYSE:LH) last released its 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 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%. Laboratory Co. of America’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.38 earnings per share. On average, analysts expect that Laboratory Co. of America Holdings will post 14.53 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 Friday, December 13th. Shareholders of record on Tuesday, November 26th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.23%. The ex-dividend date is Tuesday, November 26th. Laboratory Co. of America’s dividend payout ratio (DPR) is currently 55.71%.

Wall Street Analyst Weigh In

LH has been the topic of several recent research reports. Piper Sandler raised their target price on shares of Laboratory Co. of America from $235.00 to $240.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. StockNews.com cut shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Evercore ISI lowered their target price 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. Barclays raised their target price on shares of Laboratory Co. of America from $234.00 to $249.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Finally, Robert W. Baird raised their target price on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $255.92.

Insider Buying and Selling at Laboratory Co. of America

In other news, CEO Adam H. Schechter sold 6,189 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $243.47, for a total transaction of $1,506,835.83. Following the completion of the sale, the chief executive officer now directly owns 87,441 shares of the company’s stock, valued at $21,289,260.27. The trade was a 6.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kerrii B. Anderson sold 1,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The stock was 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 directly owns 13,722 shares of the company’s stock, valued at $3,156,060. The trade was a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,572 shares of company stock valued at $5,910,209. Corporate insiders own 0.85% of the company’s stock.

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.