Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. lessened its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 62.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LH. BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Laboratory Co. of America by 28.7% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,298 shares of the medical research company’s stock valued at $502,000 after acquiring an additional 513 shares during the last quarter. Duality Advisers LP increased its position in shares of Laboratory Co. of America by 141.3% during the first quarter. Duality Advisers LP now owns 29,580 shares of the medical research company’s stock worth $6,462,000 after purchasing an additional 17,323 shares in the last quarter. Empirical Finance LLC raised its stake in Laboratory Co. of America by 3.2% in the 1st quarter. Empirical Finance LLC now owns 3,303 shares of the medical research company’s stock valued at $722,000 after purchasing an additional 103 shares during the last quarter. Quantbot Technologies LP purchased a new position in Laboratory Co. of America in the 1st quarter valued at $3,468,000. Finally, Empowered Funds LLC lifted its holdings in Laboratory Co. of America by 185.4% in the 1st quarter. Empowered Funds LLC now owns 4,453 shares of the medical research company’s stock valued at $973,000 after purchasing an additional 2,893 shares in the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Laboratory Co. of America Trading Up 2.3 %

Shares of LH stock opened at $234.38 on Thursday. The stock has a market capitalization of $19.60 billion, a P/E ratio of 45.33, a price-to-earnings-growth ratio of 1.87 and a beta of 1.05. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $239.50. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.44. The company has a 50 day moving average price of $222.59 and a 200 day moving average price of $213.85.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings data on Thursday, October 24th. The medical research company reported $3.50 earnings per share 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 return on equity of 15.27% and a net margin of 3.43%. The company’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.38 earnings per share. Equities research analysts predict that Laboratory Co. of America Holdings will post 14.53 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

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

Insider Transactions at Laboratory Co. of America

In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $223.99, for a total transaction of $3,359,850.00. Following the completion of the transaction, the chief financial officer now owns 31,289 shares in the company, valued at $7,008,423.11. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Kerrii B. Anderson sold 1,000 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $230.00, for a total value of $230,000.00. Following the completion of the transaction, the director now owns 13,722 shares in the company, valued at approximately $3,156,060. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Glenn A. Eisenberg sold 15,000 shares of Laboratory Co. of America stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $223.99, for a total transaction of $3,359,850.00. Following the sale, the chief financial officer now owns 31,289 shares in the company, valued at $7,008,423.11. This represents 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 18,000 shares of company stock valued at $4,043,950. 0.85% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

LH has been the topic of a number of recent research reports. HSBC upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Barclays upped their price target on 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. Hsbc Global Res upgraded Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Jefferies Financial Group upped their target price on Laboratory Co. of America from $245.00 to $265.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Finally, UBS Group boosted their price target on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Laboratory Co. of America presently has a consensus rating of “Moderate Buy” and an average target price of $255.92.

Laboratory Co. of America 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.