Verdence Capital Advisors LLC Sells 115 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Verdence Capital Advisors LLC reduced its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 6.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,724 shares of the medical research company’s stock after selling 115 shares during the period. Verdence Capital Advisors LLC’s holdings in Laboratory Co. of America were worth $392,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mendota Financial Group LLC purchased a new stake in Laboratory Co. of America during the 4th quarter valued at about $29,000. Provence Wealth Management Group purchased a new stake in shares of Laboratory Co. of America during the third quarter valued at approximately $29,000. Tradewinds Capital Management LLC bought a new position in shares of Laboratory Co. of America in the third quarter worth approximately $34,000. Exchange Traded Concepts LLC purchased a new position in shares of Laboratory Co. of America in the third quarter worth $37,000. Finally, Bruce G. Allen Investments LLC bought a new stake in Laboratory Co. of America during the 4th quarter valued at $60,000. 95.94% of the stock is currently owned by institutional investors.

Laboratory Co. of America Stock Up 0.8 %

Shares of Laboratory Co. of America stock opened at $203.07 on Tuesday. Laboratory Co. of America Holdings has a 1 year low of $174.20 and a 1 year high of $234.09. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.17 and a quick ratio of 1.02. The company has a 50-day moving average of $213.25 and a 200 day moving average of $214.81. The firm has a market cap of $17.08 billion, a price-to-earnings ratio of 43.48, a PEG ratio of 1.51 and a beta of 1.01.

Laboratory Co. of America (NYSE:LH) last announced its earnings results on Thursday, February 15th. The medical research company reported $3.30 earnings per share 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 business had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.02 billion. During the same quarter last year, the firm earned $4.14 earnings per share. The business’s revenue for the quarter was down 17.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Laboratory Co. of America Holdings will post 14.84 earnings per share 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. Stockholders of record on Tuesday, May 28th will be paid a $0.72 dividend. The ex-dividend date is Friday, May 24th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.42%. Laboratory Co. of America’s dividend payout ratio is currently 61.67%.

Analysts Set New Price Targets

A number of 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 target on the stock in a report on Monday, March 25th. TheStreet downgraded Laboratory Co. of America from a “b-” rating to a “c+” rating in a report on Thursday, February 15th. Barclays started coverage on Laboratory Co. of America in a report on Wednesday, January 3rd. They issued an “equal weight” rating and a $222.00 price objective for the company. Evercore ISI started coverage on Laboratory Co. of America in a research note on Friday, February 9th. They set an “in-line” rating and a $240.00 target price on the stock. Finally, SVB Leerink assumed coverage on Laboratory Co. of America in a research note on Monday, February 26th. They issued an “outperform” rating and a $260.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $243.50.

Insider Activity

In related news, EVP Der Vaart Sandra D. Van sold 259 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $222.06, for a total transaction of $57,513.54. Following the sale, the executive vice president now directly owns 7,637 shares of the company’s stock, valued at approximately $1,695,872.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CMO Amy B. Summy sold 227 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $218.45, for a total value of $49,588.15. Following the completion of the transaction, the chief marketing officer now owns 3,859 shares in the company, valued at $842,998.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Der Vaart Sandra D. Van sold 259 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $222.06, for a total value of $57,513.54. Following the sale, the executive vice president now directly owns 7,637 shares in the company, valued at $1,695,872.22. The disclosure for this sale can be found here. Insiders sold 54,305 shares of company stock worth $11,761,059 over the last three months. 0.85% of the stock is currently owned by corporate insiders.

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).