Calamos Advisors LLC Cuts Stake in Laboratory Co. of America Holdings (NYSE:LH)

Calamos Advisors LLC lowered its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 1.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 48,748 shares of the medical research company’s stock after selling 637 shares during the quarter. Calamos Advisors LLC owned 0.06% of Laboratory Co. of America worth $11,080,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. raised its position in Laboratory Co. of America by 5.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 25,354 shares of the medical research company’s stock worth $5,097,000 after buying an additional 1,237 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Laboratory Co. of America by 6.0% in the 3rd quarter. Daiwa Securities Group Inc. now owns 8,509 shares of the medical research company’s stock valued at $1,711,000 after purchasing an additional 484 shares in the last quarter. Handelsinvest Investeringsforvaltning purchased a new position in shares of Laboratory Co. of America in the 4th quarter valued at about $1,091,000. Cerity Partners LLC increased its holdings in shares of Laboratory Co. of America by 8.6% in the 4th quarter. Cerity Partners LLC now owns 64,435 shares of the medical research company’s stock valued at $14,645,000 after purchasing an additional 5,105 shares in the last quarter. Finally, Salem Investment Counselors Inc. increased its holdings in shares of Laboratory Co. of America by 202.4% in the 4th quarter. Salem Investment Counselors Inc. now owns 9,243 shares of the medical research company’s stock valued at $2,101,000 after purchasing an additional 6,186 shares in the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Insider Buying and Selling

In related news, CMO Amy B. Summy sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $217.29, for a total value of $760,515.00. Following the sale, the chief marketing officer now directly owns 3,975 shares of the company’s stock, valued at $863,727.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CMO Amy B. Summy sold 227 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $218.45, for a total value of $49,588.15. Following the transaction, the chief marketing officer now owns 3,859 shares in the company, valued at $842,998.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CMO Amy B. Summy sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $217.29, for a total transaction 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 three months, insiders have sold 54,305 shares of company stock valued at $11,761,059. Insiders own 0.85% of the company’s stock.

Laboratory Co. of America Price Performance

Laboratory Co. of America stock opened at $201.48 on Friday. Laboratory Co. of America Holdings has a 12-month low of $174.20 and a 12-month high of $234.09. The stock has a market capitalization of $16.95 billion, a P/E ratio of 43.14, a P/E/G ratio of 1.50 and a beta of 1.01. The firm’s 50-day moving average is $213.74 and its two-hundred day moving average is $214.60. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.17 and a quick ratio of 1.02.

Laboratory Co. of America (NYSE:LH) last released its earnings results on Thursday, February 15th. The medical research company reported $3.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.29 by $0.01. Laboratory Co. of America had a net margin of 3.24% and a return on equity of 13.99%. The business had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3.02 billion. During the same period last year, the company earned $4.14 earnings per share. The company’s quarterly revenue was down 17.5% on a year-over-year basis. Equities analysts predict that Laboratory Co. of America Holdings will post 14.84 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Tuesday, May 28th will be given a $0.72 dividend. The ex-dividend date is Friday, May 24th. This represents a $2.88 annualized dividend and a dividend yield of 1.43%. Laboratory Co. of America’s dividend payout ratio is presently 61.67%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Leerink Partnrs reiterated an “outperform” rating on shares of Laboratory Co. of America in a report on Monday, February 26th. TheStreet downgraded shares of Laboratory Co. of America from a “b-” rating to a “c+” rating in a report on Thursday, February 15th. Argus upgraded 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 report on Monday, March 25th. Barclays assumed coverage on shares of Laboratory Co. of America in a research note on Wednesday, January 3rd. They issued an “equal weight” rating and a $222.00 price objective on the stock. Finally, Evercore ISI assumed coverage on shares of Laboratory Co. of America in a research note on Friday, February 9th. They issued an “in-line” rating and a $240.00 price objective on the stock. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Laboratory Co. of America presently has an average rating of “Moderate Buy” and an average target price of $243.50.

Laboratory Co. of America Company 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).