Evermay Wealth Management LLC Reduces Stake in Laboratory Co. of America Holdings (NYSE:LH)

Evermay Wealth Management LLC lowered its position in Laboratory Co. of America Holdings (NYSE:LH) by 5.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,910 shares of the medical research company’s stock after selling 310 shares during the period. Evermay Wealth Management LLC’s holdings in Laboratory Co. of America were worth $1,097,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of LH. Price T Rowe Associates Inc. MD raised its position in shares of Laboratory Co. of America by 2.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 114,488 shares of the medical research company’s stock valued at $25,012,000 after buying an additional 2,934 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Laboratory Co. of America by 17.0% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 101,019 shares of the medical research company’s stock valued at $22,069,000 after purchasing an additional 14,708 shares in the last quarter. SG Americas Securities LLC grew its holdings 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 valued at $5,072,000 after buying an additional 17,156 shares in the last quarter. Duality Advisers LP grew its holdings 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 during the period. Finally, Great Valley Advisor Group Inc. acquired a new stake in Laboratory Co. of America in the 2nd quarter valued at about $473,000. Institutional investors and hedge funds own 95.94% of the company’s stock.

Insider Activity

In other news, Director Kerrii B. Anderson sold 586 shares of the stock in a transaction that occurred on 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 approximately $3,312,450. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 1,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $230.00, for a total value of $230,000.00. Following the completion of the transaction, the director now owns 13,722 shares in the company, valued at approximately $3,156,060. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kerrii B. Anderson sold 586 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $225.00, for a total value of $131,850.00. Following the transaction, the director now owns 14,722 shares of the company’s stock, valued at approximately $3,312,450. This 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 30,679 shares of company stock valued at $6,946,306 over the last quarter. Company insiders own 0.85% of the company’s stock.

Analysts Set New Price Targets

LH has been the subject of a number of research analyst reports. Truist Financial upped their target price on Laboratory Co. of America from $255.00 to $275.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Barclays lifted their target price on Laboratory Co. of America from $234.00 to $249.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. StockNews.com cut shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Piper Sandler boosted their price target on shares of Laboratory Co. of America from $235.00 to $240.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Robert W. Baird raised their price objective on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $253.92.

Laboratory Co. of America Price Performance

Shares of NYSE:LH traded up $1.56 during midday trading on Wednesday, hitting $229.65. 76,435 shares of the stock were exchanged, compared to its average volume of 666,170. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66. The company has a 50 day moving average price of $222.68 and a 200-day moving average price of $212.75. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $239.50. The stock has a market cap of $19.28 billion, a P/E ratio of 44.30, a PEG ratio of 1.77 and a beta of 1.05.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings results 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. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same period in the prior year, the business earned $3.38 earnings per share. The company’s quarterly revenue was up 7.4% on a year-over-year basis. On average, research analysts forecast that Laboratory Co. of America Holdings will post 14.53 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, November 26th will be paid a dividend of $0.72 per share. 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 55.71%.

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.