Laboratory Co. of America Holdings (NYSE:LH) Stake Reduced by Hahn Capital Management LLC

Hahn Capital Management LLC reduced its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 33.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,225 shares of the medical research company’s stock after selling 13,319 shares during the quarter. Laboratory Co. of America comprises approximately 3.8% of Hahn Capital Management LLC’s holdings, making the stock its 16th largest position. Hahn Capital Management LLC’s holdings in Laboratory Co. of America were worth $5,861,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. bought a new position in Laboratory Co. of America during the 3rd quarter worth $854,000. International Assets Investment Management LLC grew its stake in shares of Laboratory Co. of America by 59,626.5% in the third quarter. International Assets Investment Management LLC now owns 67,491 shares of the medical research company’s stock worth $15,083,000 after purchasing an additional 67,378 shares in the last quarter. Greenleaf Trust grew its stake in shares of Laboratory Co. of America by 117.5% in the third quarter. Greenleaf Trust now owns 5,596 shares of the medical research company’s stock worth $1,251,000 after purchasing an additional 3,023 shares in the last quarter. Marietta Wealth Management LLC grew its stake in shares of Laboratory Co. of America by 5.5% in the third quarter. Marietta Wealth Management LLC now owns 20,613 shares of the medical research company’s stock worth $4,607,000 after purchasing an additional 1,073 shares in the last quarter. Finally, Private Advisor Group LLC grew its stake in shares of Laboratory Co. of America by 55.2% in the third quarter. Private Advisor Group LLC now owns 8,410 shares of the medical research company’s stock worth $1,879,000 after purchasing an additional 2,990 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors.

Laboratory Co. of America Stock Performance

Shares of LH opened at $230.07 on Friday. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year high of $239.50. The company has a 50-day moving average of $222.47 and a two-hundred day moving average of $212.14. The stock has a market cap of $19.32 billion, a price-to-earnings ratio of 43.57, a PEG ratio of 1.70 and a beta of 1.05. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.88 and a quick ratio of 0.77.

Laboratory Co. of America (NYSE:LH) last announced its earnings results on Thursday, October 24th. The medical research company reported $3.50 EPS for the quarter, topping the consensus estimate of $3.48 by $0.02. Laboratory Co. of America had a net margin of 3.60% and a return on equity of 15.39%. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same period last year, the company posted $3.38 earnings per share. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, equities research analysts expect that Laboratory Co. of America Holdings will post 14.55 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Jefferies Financial Group increased their price target 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 increased their price target on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Barclays decreased their price target on Laboratory Co. of America from $249.00 to $234.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 16th. Robert W. Baird lifted their target price on Laboratory Co. of America from $282.00 to $289.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Truist Financial boosted their price target on shares of Laboratory Co. of America from $255.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. 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.com, Laboratory Co. of America presently has an average rating of “Moderate Buy” and a consensus price target of $252.38.

Insiders Place Their Bets

In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 15,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $223.99, for a total value of $3,359,850.00. Following the completion of the transaction, the chief financial officer now directly owns 31,289 shares in the company, valued at $7,008,423.11. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Lance Berberian sold 12,093 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $229.10, for a total value of $2,770,506.30. Following the completion of the sale, the executive vice president now directly owns 15,921 shares of the company’s stock, valued at $3,647,501.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Glenn A. Eisenberg sold 15,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was 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 $7,008,423.11. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,679 shares of company stock worth $6,716,306 over the last ninety days. 0.85% of the stock is currently owned by company 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.