Metis Global Partners LLC Decreases Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Metis Global Partners LLC lowered its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 7.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 4,272 shares of the medical research company’s stock after selling 356 shares during the quarter. Metis Global Partners LLC’s holdings in Laboratory Co. of America were worth $971,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Morgan Stanley grew its holdings in shares of Laboratory Co. of America by 102.6% during the third quarter. Morgan Stanley now owns 2,219,291 shares of the medical research company’s stock worth $446,189,000 after purchasing an additional 1,123,755 shares during the last quarter. Diamond Hill Capital Management Inc. increased its position in Laboratory Co. of America by 644.2% during the third quarter. Diamond Hill Capital Management Inc. now owns 1,280,884 shares of the medical research company’s stock worth $257,522,000 after buying an additional 1,108,776 shares during the period. Lazard Asset Management LLC lifted its stake in Laboratory Co. of America by 28.0% in the third quarter. Lazard Asset Management LLC now owns 2,212,497 shares of the medical research company’s stock valued at $444,821,000 after buying an additional 483,878 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Laboratory Co. of America by 536.0% in the third quarter. Ameriprise Financial Inc. now owns 540,429 shares of the medical research company’s stock valued at $108,653,000 after acquiring an additional 455,462 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of Laboratory Co. of America by 20.6% during the third quarter. Wellington Management Group LLP now owns 2,487,106 shares of the medical research company’s stock worth $500,033,000 after acquiring an additional 424,684 shares during the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Barclays reduced their price target on shares of Laboratory Co. of America from $234.00 to $213.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Robert W. Baird decreased their target price on shares of Laboratory Co. of America from $255.00 to $244.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. Evercore ISI started coverage on Laboratory Co. of America in a research report on Friday, February 9th. They issued an “in-line” rating and a $240.00 price target on the stock. TheStreet cut Laboratory Co. of America from a “b-” rating to a “c+” rating in a research report on Thursday, February 15th. Finally, SVB Leerink began coverage on Laboratory Co. of America in a report on Monday, February 26th. They issued an “outperform” rating and a $260.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Laboratory Co. of America presently has an average rating of “Moderate Buy” and an average target price of $243.14.

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 34,504 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $215.97, for a total value of $7,451,828.88. Following the transaction, the chief financial officer now directly owns 23,595 shares in the company, valued at approximately $5,095,812.15. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Kerrii B. Anderson sold 250 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $200.10, for a total value of $50,025.00. Following the completion of the transaction, the director now directly owns 15,722 shares in the company, valued at $3,145,972.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Glenn A. Eisenberg sold 34,504 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $215.97, for a total value of $7,451,828.88. Following the completion of the sale, the chief financial officer now directly owns 23,595 shares in the company, valued at $5,095,812.15. The disclosure for this sale can be found here. Insiders have sold a total of 56,985 shares of company stock valued at $12,302,964 over the last quarter. Insiders own 0.85% of the company’s stock.

Laboratory Co. of America Price Performance

Shares of NYSE LH opened at $206.09 on Friday. The company’s fifty day moving average is $209.09 and its two-hundred day moving average is $214.74. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.76 and a current ratio of 0.88. The firm has a market capitalization of $17.37 billion, a P/E ratio of 41.47, a PEG ratio of 1.51 and a beta of 1.02. Laboratory Co. of America Holdings has a one year low of $174.20 and a one year high of $234.09.

Laboratory Co. of America (NYSE:LH) last posted its earnings results on Thursday, April 25th. The medical research company reported $3.68 earnings per share for the quarter, beating the consensus estimate of $3.48 by $0.20. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.12 billion. Laboratory Co. of America had a return on equity of 14.68% and a net margin of 3.52%. Laboratory Co. of America’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.82 earnings per share. Analysts forecast that Laboratory Co. of America Holdings will post 14.87 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 28th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.40%. The ex-dividend date is Tuesday, May 28th. Laboratory Co. of America’s payout ratio is 57.95%.

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 (Dx) and Biopharma Laboratory Services (BLS).