Busey Bank Sells 66 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Busey Bank trimmed its position in Laboratory Co. of America Holdings (NYSE:LH) by 0.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 61,419 shares of the medical research company’s stock after selling 66 shares during the quarter. Busey Bank owned approximately 0.07% of Laboratory Co. of America worth $13,726,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Laboratory Co. of America by 2.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 114,488 shares of the medical research company’s stock worth $25,012,000 after acquiring an additional 2,934 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Laboratory Co. of America by 17.0% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 101,019 shares of the medical research company’s stock worth $22,069,000 after acquiring an additional 14,708 shares during the period. SG Americas Securities LLC raised its stake in Laboratory Co. of America by 283.1% in the 1st quarter. SG Americas Securities LLC now owns 23,217 shares of the medical research company’s stock worth $5,072,000 after purchasing an additional 17,156 shares in the last quarter. Duality Advisers LP grew its position in shares of Laboratory Co. of America by 141.3% during the 1st 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. Finally, Great Valley Advisor Group Inc. bought a new position in shares of Laboratory Co. of America during the second quarter worth approximately $473,000. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Laboratory Co. of America Stock Performance

NYSE:LH opened at $230.07 on Friday. The stock has a 50-day moving average price of $222.47 and a 200 day moving average price of $212.14. The company has a current ratio of 0.88, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $239.50. The stock has a market capitalization of $19.32 billion, a P/E ratio of 43.57, a P/E/G ratio of 1.70 and a beta of 1.05.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings data on Thursday, October 24th. The medical research company reported $3.50 EPS for the quarter, beating the consensus estimate of $3.48 by $0.02. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.26 billion. Laboratory Co. of America had a net margin of 3.60% and a return on equity of 15.39%. The business’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.38 EPS. Equities research analysts forecast that Laboratory Co. of America Holdings will post 14.55 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, November 26th will be paid a $0.72 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.25%. Laboratory Co. of America’s payout ratio is currently 54.55%.

Wall Street Analyst Weigh In

LH has been the topic of a number of recent research reports. Jefferies Financial Group raised their price objective on Laboratory Co. of America from $245.00 to $265.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Bank of America upped their price objective on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Robert W. Baird raised their target price on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a report on Friday. Deutsche Bank Aktiengesellschaft upped their price target on shares of Laboratory Co. of America from $220.00 to $230.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Finally, Barclays reduced their price objective on Laboratory Co. of America from $249.00 to $234.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $252.38.

Insiders Place Their Bets

In other news, Director Kerrii B. Anderson sold 586 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $225.00, for a total value of $131,850.00. Following the completion of the sale, the director now owns 14,722 shares in the company, valued at approximately $3,312,450. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Glenn A. Eisenberg sold 15,000 shares of the business’s stock in a transaction 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 sale, the chief financial officer now directly owns 31,289 shares of the company’s stock, valued at approximately $7,008,423.11. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kerrii B. Anderson sold 586 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $225.00, for a total transaction of $131,850.00. Following the completion of the transaction, the director now directly owns 14,722 shares in the company, valued at $3,312,450. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,679 shares of company stock valued at $6,716,306 over the last ninety days. 0.85% of the stock is owned by insiders.

About Laboratory Co. of America

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.