OLD National Bancorp IN Sells 1,178 Shares of Laboratory Co. of America Holdings (NYSE:LH)

OLD National Bancorp IN decreased its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 41.9% in the fourth quarter, Holdings Channel reports. The fund owned 1,631 shares of the medical research company’s stock after selling 1,178 shares during the quarter. OLD National Bancorp IN’s holdings in Laboratory Co. of America were worth $371,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Provence Wealth Management Group bought a new position in shares of Laboratory Co. of America in the 3rd quarter valued at about $29,000. Mendota Financial Group LLC bought a new position in shares of Laboratory Co. of America in the 4th quarter valued at about $29,000. Tradewinds Capital Management LLC bought a new position in shares of Laboratory Co. of America in the 3rd quarter valued at about $34,000. Exchange Traded Concepts LLC bought a new stake in Laboratory Co. of America in the third quarter worth about $37,000. Finally, Bruce G. Allen Investments LLC bought a new stake in Laboratory Co. of America in the fourth quarter worth about $60,000. Institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Price Performance

Laboratory Co. of America stock opened at $207.94 on Thursday. The firm has a market cap of $17.49 billion, a PE ratio of 44.53, a price-to-earnings-growth ratio of 1.56 and a beta of 1.01. Laboratory Co. of America Holdings has a 52-week low of $174.20 and a 52-week high of $234.09. The company has a quick ratio of 1.02, a current ratio of 1.17 and a debt-to-equity ratio of 0.52. The company’s 50 day moving average is $212.54 and its two-hundred day moving average is $214.80.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings data on Thursday, February 15th. The medical research company reported $3.30 EPS for the quarter, beating analysts’ consensus estimates of $3.29 by $0.01. Laboratory Co. of America had a net margin of 3.24% and a return on equity of 13.99%. The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.02 billion. During the same period in the prior year, the firm posted $4.14 EPS. The company’s quarterly revenue was down 17.5% compared to the same quarter last year. On average, research analysts expect that Laboratory Co. of America Holdings will post 14.84 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Tuesday, May 28th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend is Friday, May 24th. Laboratory Co. of America’s dividend payout ratio (DPR) is 61.67%.

Insider Activity at Laboratory Co. of America

In related news, EVP Der Vaart Sandra D. Van sold 237 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $226.45, for a total value of $53,668.65. Following the transaction, the executive vice president now directly owns 7,637 shares of the company’s stock, valued at approximately $1,729,398.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 237 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $226.45, for a total transaction of $53,668.65. Following the transaction, the executive vice president now directly owns 7,637 shares of the company’s stock, valued at approximately $1,729,398.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Amy B. Summy sold 3,500 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $217.29, for a total transaction of $760,515.00. Following the completion of the sale, the chief marketing officer now owns 3,975 shares of the company’s stock, valued at approximately $863,727.75. The disclosure for this sale can be found here. Insiders have sold 54,305 shares of company stock valued at $11,761,059 in the last ninety days. Insiders own 0.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LH. Argus raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 price objective for the company in a research note on Monday, March 25th. Barclays began coverage on shares of Laboratory Co. of America in a research note on Wednesday, January 3rd. They issued an “equal weight” rating and a $222.00 price objective for the company. TheStreet downgraded shares of Laboratory Co. of America from a “b-” rating to a “c+” rating in a research note on Thursday, February 15th. SVB Leerink initiated coverage on shares of Laboratory Co. of America in a research note on Monday, February 26th. They issued an “outperform” rating and a $260.00 price objective for the company. Finally, Leerink Partnrs reaffirmed an “outperform” rating on shares of Laboratory Co. of America in a research note on Monday, February 26th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $243.50.

Laboratory Co. of America Company Profile

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).