Level Four Advisory Services LLC Sells 187 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Level Four Advisory Services LLC reduced its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 13.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,188 shares of the medical research company’s stock after selling 187 shares during the period. Level Four Advisory Services LLC’s holdings in Laboratory Co. of America were worth $273,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LH. Roundview Capital LLC boosted its holdings in shares of Laboratory Co. of America by 1.6% in the 1st quarter. Roundview Capital LLC now owns 7,793 shares of the medical research company’s stock worth $2,055,000 after acquiring an additional 124 shares in the last quarter. LSV Asset Management raised its position in Laboratory Co. of America by 1.2% in the 1st quarter. LSV Asset Management now owns 34,800 shares of the medical research company’s stock valued at $9,175,000 after purchasing an additional 400 shares during the last quarter. Synovus Financial Corp boosted its stake in Laboratory Co. of America by 105.7% in the first quarter. Synovus Financial Corp now owns 1,654 shares of the medical research company’s stock worth $441,000 after purchasing an additional 850 shares in the last quarter. Cibc World Market Inc. bought a new stake in shares of Laboratory Co. of America during the first quarter worth $213,000. Finally, Sei Investments Co. increased its stake in shares of Laboratory Co. of America by 18.9% in the first quarter. Sei Investments Co. now owns 89,167 shares of the medical research company’s stock valued at $23,543,000 after buying an additional 14,186 shares in the last quarter. 89.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on LH shares. Robert W. Baird reduced their price target on shares of Laboratory Co. of America from $251.00 to $237.00 and set an “outperform” rating on the stock in a research report on Monday. Morgan Stanley decreased their price target on shares of Laboratory Co. of America from $285.00 to $260.00 and set an “overweight” rating on the stock in a research note on Thursday, August 3rd. Mizuho restated a “buy” rating and issued a $257.00 price objective on shares of Laboratory Co. of America in a research report on Friday. Credit Suisse Group decreased their price objective on Laboratory Co. of America from $247.41 to $231.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 2nd. Finally, Wells Fargo & Company cut their price target on Laboratory Co. of America from $290.00 to $270.00 and set an “overweight” rating on the stock in a research note on Monday, August 14th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $246.00.

Laboratory Co. of America Stock Performance

Shares of LH opened at $201.17 on Tuesday. The firm has a 50-day moving average of $212.29 and a 200-day moving average of $220.17. The company has a market cap of $17.82 billion, a PE ratio of 21.70 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.35 and a quick ratio of 2.12. Laboratory Co. of America Holdings has a one year low of $166.93 and a one year high of $222.33.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings data on Thursday, July 27th. The medical research company reported $3.42 earnings per share for the quarter, missing the consensus estimate of $3.47 by ($0.05). Laboratory Co. of America had a return on equity of 14.62% and a net margin of 5.89%. The business had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same quarter last year, the firm earned $4.96 EPS. Laboratory Co. of America’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, equities analysts forecast that Laboratory Co. of America Holdings will post 13.68 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Tuesday, August 8th were paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.43%. The ex-dividend date was Monday, August 7th. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 31.07%.

Insider Activity

In other news, Director Kerrii B. Anderson sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $211.57, for a total transaction of $1,057,850.00. Following the completion of the transaction, the director now directly owns 15,275 shares in the company, valued at $3,231,731.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Der Vaart Sandra D. Van sold 212 shares of the stock in a transaction dated Thursday, June 29th. The stock was sold at an average price of $240.00, for a total value of $50,880.00. Following the completion of the sale, the executive vice president now owns 7,605 shares of the company’s stock, valued at $1,825,200. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kerrii B. Anderson sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $211.57, for a total transaction of $1,057,850.00. Following the completion of the transaction, the director now owns 15,275 shares in the company, valued at approximately $3,231,731.75. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by corporate insiders.

About Laboratory Co. of America

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 and Labcorp Drug Development.