Sequoia Financial Advisors LLC Has $30.26 Million Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

22 Oct 2024, 12:52 by Amy Steele · The Cerbat Gem

Sequoia Financial Advisors LLC reduced its stake in shares of Laboratory Co. of America Holdings (NYSE:LH – Free Report) by 0.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 135,413 shares of the medical research company’s stock after selling 94 shares during the quarter. Sequoia Financial Advisors LLC owned 0.16% of Laboratory Co. of America worth $30,262,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its stake in Laboratory Co. of America by 135.0% during the second quarter. Bank of New York Mellon Corp now owns 1,609,826 shares of the medical research company’s stock valued at $327,616,000 after acquiring an additional 924,881 shares during the period. Diamond Hill Capital Management Inc. grew its holdings in shares of Laboratory Co. of America by 25.4% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,949,640 shares of the medical research company’s stock worth $396,771,000 after purchasing an additional 395,197 shares in the last quarter. Select Equity Group L.P. bought a new stake in shares of Laboratory Co. of America during the second quarter valued at approximately $73,928,000. Allspring Global Investments Holdings LLC raised its stake in shares of Laboratory Co. of America by 16.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,865,460 shares of the medical research company’s stock valued at $416,893,000 after purchasing an additional 263,105 shares in the last quarter. Finally, Magnetar Financial LLC bought a new position in Laboratory Co. of America in the first quarter worth $45,567,000. 95.94% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $227.05, for a total transaction of $454,100.00. Following the completion of the transaction, the executive vice president now directly owns 3,670 shares in the company, valued at approximately $833,273.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Der Vaart Sandra D. Van sold 2,000 shares of Laboratory Co. of America stock in a transaction on Monday, August 19th. The shares were sold at an average price of $227.05, for a total transaction of $454,100.00. Following the transaction, the executive vice president now directly owns 3,670 shares of the company’s stock, valued at $833,273.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Glenn A. Eisenberg sold 15,000 shares of the company’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 owns 31,289 shares of the company’s stock, valued at approximately $7,008,423.11. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,679 shares of company stock valued at $6,716,306 in the last 90 days. 0.85% of the stock is owned by company insiders.

Laboratory Co. of America Trading Up 2.8 %

NYSE:LH traded up $5.92 during trading hours on Tuesday, hitting $220.05. 322,141 shares of the stock were exchanged, compared to its average volume of 657,341. The company has a quick ratio of 0.77, a current ratio of 0.88 and a debt-to-equity ratio of 0.39. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $238.46. The company has a market capitalization of $18.55 billion, a P/E ratio of 43.08, a price-to-earnings-growth ratio of 1.67 and a beta of 1.05. The company’s 50 day moving average is $222.58 and its two-hundred day moving average is $212.02.

Laboratory Co. of America (NYSE:LH – Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The medical research company reported $3.94 EPS for the quarter, topping analysts’ consensus estimates of $3.78 by $0.16. Laboratory Co. of America had a return on equity of 15.39% and a net margin of 3.60%. The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.19 billion. During the same period last year, the company earned $3.42 earnings per share. The company’s revenue was up 6.2% on a year-over-year basis. On average, sell-side analysts anticipate that Laboratory Co. of America Holdings will post 14.56 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, November 26th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Tuesday, November 26th. Laboratory Co. of America’s payout ratio is 57.95%.

Analysts Set New Price Targets

Several brokerages have issued reports on LH. StockNews.com raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Piper Sandler started coverage on 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. Jefferies Financial Group increased 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. Robert W. Baird lifted their price objective on Laboratory Co. of America from $278.00 to $282.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Finally, Barclays dropped their target price 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 report on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $251.85.

Get Our Latest Analysis on Laboratory Co. of America

Laboratory Co. of America Profile

(Free Report)