Parsons Capital Management Inc. RI Has $650,000 Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Parsons Capital Management Inc. RI trimmed its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 9.3% in the first quarter, Holdings Channel reports. The fund owned 2,975 shares of the medical research company’s stock after selling 306 shares during the period. Parsons Capital Management Inc. RI’s holdings in Laboratory Co. of America were worth $650,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Manchester Capital Management LLC raised its holdings in Laboratory Co. of America by 1.1% during the 4th quarter. Manchester Capital Management LLC now owns 4,159 shares of the medical research company’s stock worth $945,000 after buying an additional 45 shares during the period. Trust Investment Advisors raised its holdings in Laboratory Co. of America by 1.8% during the 4th quarter. Trust Investment Advisors now owns 2,567 shares of the medical research company’s stock worth $583,000 after buying an additional 46 shares during the period. SP Asset Management LLC raised its holdings in Laboratory Co. of America by 0.3% during the 4th quarter. SP Asset Management LLC now owns 14,992 shares of the medical research company’s stock worth $3,407,000 after buying an additional 46 shares during the period. Unison Advisors LLC raised its holdings in Laboratory Co. of America by 0.5% during the 1st quarter. Unison Advisors LLC now owns 11,053 shares of the medical research company’s stock worth $2,415,000 after buying an additional 51 shares during the period. Finally, Atria Wealth Solutions Inc. raised its holdings in Laboratory Co. of America by 2.8% during the 4th quarter. Atria Wealth Solutions Inc. now owns 1,969 shares of the medical research company’s stock worth $448,000 after buying an additional 53 shares during the period. 95.94% of the stock is currently owned by institutional investors.

Insider Transactions at Laboratory Co. of America

In other news, CMO Amy B. Summy sold 3,500 shares of Laboratory Co. of America stock in a transaction on Monday, April 1st. The stock was sold at an average price of $217.29, for a total transaction of $760,515.00. Following the completion of the sale, the chief marketing officer now owns 3,975 shares of the company’s stock, valued at $863,727.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 34,504 shares of Laboratory Co. of America stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $215.97, for a total value of $7,451,828.88. Following the transaction, the chief financial officer now owns 23,595 shares in the company, valued at $5,095,812.15. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO Amy B. Summy sold 3,500 shares of Laboratory Co. of America stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $217.29, for a total value of $760,515.00. Following the completion of the transaction, the chief marketing officer now owns 3,975 shares in the company, valued at approximately $863,727.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,305 shares of company stock valued at $11,761,059. 0.85% of the stock is currently owned by corporate insiders.

Laboratory Co. of America Stock Performance

LH stock traded up $0.05 during midday trading on Friday, reaching $198.40. 931,317 shares of the company were exchanged, compared to its average volume of 745,511. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.88 and a quick ratio of 1.02. The business has a 50-day moving average price of $211.70 and a two-hundred day moving average price of $214.85. Laboratory Co. of America Holdings has a one year low of $174.20 and a one year high of $234.09. The firm has a market capitalization of $16.69 billion, a price-to-earnings ratio of 39.92, a price-to-earnings-growth ratio of 1.49 and a beta of 1.01.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings data on Thursday, April 25th. The medical research company reported $3.68 EPS for the quarter, topping analysts’ consensus estimates of $3.46 by $0.22. Laboratory Co. of America had a net margin of 3.52% and a return on equity of 14.68%. The firm had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same period in the previous year, the business posted $3.82 earnings per share. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. Equities research analysts forecast that Laboratory Co. of America Holdings will post 14.85 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 28th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Friday, May 24th. Laboratory Co. of America’s dividend payout ratio is currently 57.95%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Barclays decreased their price target on shares of Laboratory Co. of America from $234.00 to $213.00 and set an “equal weight” rating for the company in a research note on Friday. Robert W. Baird decreased their price target on shares of Laboratory Co. of America from $255.00 to $244.00 and set an “outperform” rating for the company in a research note on Friday. Argus raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 price target for the company in a research note on Monday, March 25th. TheStreet cut shares of Laboratory Co. of America from a “b-” rating to a “c+” rating in a research note on Thursday, February 15th. Finally, Truist Financial decreased their price target on shares of Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating for the company in a research note on Friday. 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.com, Laboratory Co. of America presently has an average rating of “Moderate Buy” and an average price target of $243.14.

Laboratory Co. of America Profile

Laboratory Corporation of America Holdings operates as a life sciences company that provides vital information to help doctors, hospitals, pharmaceutical companies, researchers, and patients make clear and confident decisions. It operates in two segments, Labcorp Diagnostics (Dx) and Biopharma Laboratory Services (BLS).