Everence Capital Management Inc. trimmed its position in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 61.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,110 shares of the medical research company's stock after selling 3,300 shares during the quarter. Everence Capital Management Inc.'s holdings in Laboratory Co. of America were worth $472,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Fisher Asset Management LLC raised its holdings in Laboratory Co. of America by 20.4% during the 4th quarter. Fisher Asset Management LLC now owns 1,465 shares of the medical research company's stock worth $333,000 after buying an additional 248 shares during the period. Global Assets Advisory LLC acquired a new position in Laboratory Co. of America in the 1st quarter worth $6,144,000. Harbor Investment Advisory LLC boosted its stake in Laboratory Co. of America by 9.9% in the 1st quarter. Harbor Investment Advisory LLC now owns 2,354 shares of the medical research company's stock worth $514,000 after purchasing an additional 213 shares during the period. Atlas Capital Advisors LLC increased its holdings in Laboratory Co. of America by 3.2% during the 1st quarter. Atlas Capital Advisors LLC now owns 4,085 shares of the medical research company's stock worth $892,000 after purchasing an additional 126 shares in the last quarter. Finally, Cardinal Capital Management raised its stake in shares of Laboratory Co. of America by 9.7% in the 1st quarter. Cardinal Capital Management now owns 33,552 shares of the medical research company's stock valued at $7,330,000 after purchasing an additional 2,969 shares during the period. Institutional investors own 95.94% of the company's stock.

A number of brokerages recently issued reports on LH. StockNews.com raised Laboratory Co. of America from a "hold" rating to a "buy" rating in a research report on Thursday, October 17th. Jefferies Financial Group lifted their price objective on shares of Laboratory Co. of America from $245.00 to $265.00 and gave the company a "buy" rating in a report on Monday, September 23rd. UBS Group increased their target price on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock a "buy" rating in a report on Friday, August 2nd. Piper Sandler started coverage on shares of Laboratory Co. of America in a research note on Tuesday, October 1st. They issued a "neutral" rating and a $235.00 price target on the stock. Finally, Barclays reduced their price objective on shares of 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. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Laboratory Co. of America currently has an average rating of "Moderate Buy" and a consensus target price of $251.85.

View Our Latest Stock Analysis on Laboratory Co. of America

Shares of Laboratory Co. of America stock opened at $214.13 on Tuesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.88 and a quick ratio of 0.77. The business has a fifty day simple moving average of $222.58 and a two-hundred day simple moving average of $212.02. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $238.46. The company has a market capitalization of $18.05 billion, a price-to-earnings ratio of 43.08, a P/E/G ratio of 1.67 and a beta of 1.05.

Laboratory Co. of America (NYSE:LH - Get Free Report) last posted its earnings results on Thursday, August 1st. The medical research company reported $3.94 earnings per share (EPS) 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 company had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.19 billion. During the same quarter last year, the company posted $3.42 EPS. Laboratory Co. of America's quarterly revenue was up 6.2% compared to the same quarter last year. Research analysts forecast that Laboratory Co. of America Holdings will post 14.56 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, November 26th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.34%. The ex-dividend date is Tuesday, November 26th. Laboratory Co. of America's payout ratio is 57.95%.

In related 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 sale, the chief financial officer now directly owns 31,289 shares in the company, valued at $7,008,423.11. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related 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 transaction of $3,359,850.00. Following the transaction, the chief financial officer now directly owns 31,289 shares of the company's stock, valued at approximately $7,008,423.11. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lance Berberian sold 12,093 shares of the business's stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $229.10, for a total transaction 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,679 shares of company stock worth $6,716,306. Company insiders own 0.85% of the company's stock.

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.

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