M&T Bank Corp Has $6.45 Million Holdings in Laboratory Co. of America Holdings (NYSE:LH)

M&T Bank Corp cut its stake in Laboratory Co. of America Holdings (NYSE:LH) by 12.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,366 shares of the medical research company’s stock after selling 3,986 shares during the quarter. M&T Bank Corp’s holdings in Laboratory Co. of America were worth $6,447,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of LH. Morgan Stanley grew its stake in Laboratory Co. of America by 102.6% in the 3rd quarter. Morgan Stanley now owns 2,219,291 shares of the medical research company’s stock valued at $446,189,000 after purchasing an additional 1,123,755 shares during the period. Diamond Hill Capital Management Inc. increased its stake in shares of Laboratory Co. of America by 644.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,280,884 shares of the medical research company’s stock worth $257,522,000 after purchasing an additional 1,108,776 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Laboratory Co. of America by 3,836.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 806,975 shares of the medical research company’s stock worth $162,243,000 after purchasing an additional 786,477 shares during the period. Lazard Asset Management LLC increased its position in Laboratory Co. of America by 28.0% in the third quarter. Lazard Asset Management LLC now owns 2,212,497 shares of the medical research company’s stock worth $444,821,000 after buying an additional 483,878 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Laboratory Co. of America by 536.0% in the third quarter. Ameriprise Financial Inc. now owns 540,429 shares of the medical research company’s stock valued at $108,653,000 after buying an additional 455,462 shares during the period. Institutional investors own 95.94% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Barclays lowered their price objective on Laboratory Co. of America from $234.00 to $213.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Argus raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 target price on the stock in a report on Monday, March 25th. Leerink Partnrs reiterated an “outperform” rating on shares of Laboratory Co. of America in a research report on Monday, February 26th. Robert W. Baird reduced their target price on Laboratory Co. of America from $255.00 to $244.00 and set an “outperform” rating for the company in a report on Friday, April 26th. Finally, Evercore ISI began coverage on shares of Laboratory Co. of America in a research note on Friday, February 9th. They set an “in-line” rating and a $240.00 price objective for the company. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $243.14.

Insider Buying and Selling

In other news, EVP Der Vaart Sandra D. Van sold 259 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $222.06, for a total transaction of $57,513.54. Following the completion of the sale, the executive vice president now owns 7,637 shares of the company’s stock, valued at approximately $1,695,872.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 259 shares of Laboratory Co. of America stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $222.06, for a total value of $57,513.54. Following the sale, the executive vice president now directly owns 7,637 shares in the company, valued at approximately $1,695,872.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CMO Amy B. Summy sold 227 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $218.45, for a total transaction of $49,588.15. Following the completion of the transaction, the chief marketing officer now directly owns 3,859 shares of the company’s stock, valued at approximately $842,998.55. The disclosure for this sale can be found here. Insiders sold a total of 57,244 shares of company stock worth $12,360,478 in the last three months. 0.85% of the stock is owned by corporate insiders.

Laboratory Co. of America Stock Performance

Laboratory Co. of America stock opened at $201.04 on Tuesday. Laboratory Co. of America Holdings has a 1-year low of $174.20 and a 1-year high of $234.09. The firm has a market cap of $16.95 billion, a P/E ratio of 40.45, a P/E/G ratio of 1.51 and a beta of 1.02. The company has a current ratio of 0.88, a quick ratio of 0.76 and a debt-to-equity ratio of 0.39. The firm has a 50-day moving average of $209.84 and a 200-day moving average of $214.88.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings results on Thursday, April 25th. The medical research company reported $3.68 EPS for the quarter, topping analysts’ consensus estimates of $3.48 by $0.20. Laboratory Co. of America had a return on equity of 14.68% and a net margin of 3.52%. The company had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same quarter last year, the firm posted $3.82 earnings per share. The firm’s revenue was up 4.6% on a year-over-year basis. Sell-side analysts expect that Laboratory Co. of America Holdings will post 14.87 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The firm 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 1.43%. The ex-dividend date of this dividend is Tuesday, May 28th. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 57.95%.

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).