Trust Co. of Vermont Cuts Stake in Laboratory Co. of America Holdings (NYSE:LH)

Trust Co. of Vermont reduced its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 45.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,551 shares of the medical research company’s stock after selling 2,113 shares during the period. Trust Co. of Vermont’s holdings in Laboratory Co. of America were worth $570,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in LH. Industrial Alliance Investment Management Inc. purchased a new position in Laboratory Co. of America in the 2nd quarter worth $27,000. Pathway Financial Advisers LLC purchased a new position in shares of Laboratory Co. of America in the first quarter worth about $30,000. Innealta Capital LLC bought a new stake in shares of Laboratory Co. of America in the 2nd quarter valued at about $32,000. Family Firm Inc. purchased a new stake in Laboratory Co. of America during the 2nd quarter valued at about $37,000. Finally, McClarren Financial Advisors Inc. grew its position in Laboratory Co. of America by 313.2% during the 1st quarter. McClarren Financial Advisors Inc. now owns 219 shares of the medical research company’s stock worth $48,000 after acquiring an additional 166 shares during the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Laboratory Co. of America Stock Performance

Shares of LH stock opened at $215.77 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39. The company’s fifty day moving average price is $222.76 and its 200-day moving average price is $212.00. The stock has a market cap of $18.19 billion, a PE ratio of 43.41, a price-to-earnings-growth ratio of 1.67 and a beta of 1.05. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $238.46.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings data on Thursday, August 1st. The medical research company reported $3.94 earnings per share for the quarter, topping analysts’ consensus estimates of $3.78 by $0.16. Laboratory Co. of America had a net margin of 3.60% and a return on equity of 15.39%. The business had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.19 billion. During the same quarter in the prior year, the company earned $3.42 earnings per share. The business’s revenue was up 6.2% compared to the same quarter last year. On average, equities analysts expect that Laboratory Co. of America Holdings will post 14.56 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The business 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 yield of 1.33%. The ex-dividend date is Tuesday, November 26th. Laboratory Co. of America’s dividend payout ratio (DPR) is 57.95%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Truist Financial increased their price objective on Laboratory Co. of America from $255.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Bank of America raised their price target on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, August 5th. UBS Group upped their price objective on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Jefferies Financial Group raised their target price 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. Finally, Piper Sandler started coverage on Laboratory Co. of America in a research report on Tuesday, October 1st. They set a “neutral” rating and a $235.00 price target for the company. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $251.85.

Insider Transactions at Laboratory Co. of America

In related news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $227.05, for a total transaction of $454,100.00. Following the sale, the executive vice president now directly owns 3,670 shares of the company’s stock, valued at approximately $833,273.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Glenn A. Eisenberg sold 15,000 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was 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 owns 31,289 shares in the company, valued at $7,008,423.11. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Der Vaart Sandra D. Van sold 2,000 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $227.05, for a total value of $454,100.00. Following the sale, the executive vice president now directly owns 3,670 shares in the company, valued at $833,273.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,679 shares of company stock valued at $6,716,306. Insiders own 0.85% of the company’s stock.

Laboratory Co. of America Company Profile

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.