Orion Portfolio Solutions LLC Raises Stake in Laboratory Co. of America Holdings (NYSE:LH)

Orion Portfolio Solutions LLC raised its position in Laboratory Co. of America Holdings (NYSE:LH) by 34.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,508 shares of the medical research company’s stock after acquiring an additional 3,708 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Laboratory Co. of America were worth $3,242,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in LH. SouthState Corp purchased a new stake in shares of Laboratory Co. of America during the 3rd quarter worth approximately $28,000. Horizon Bancorp Inc. IN purchased a new stake in shares of Laboratory Co. of America during the 3rd quarter worth approximately $29,000. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Laboratory Co. of America during the 2nd quarter worth approximately $27,000. Innealta Capital LLC purchased a new stake in shares of Laboratory Co. of America during the 2nd quarter worth approximately $32,000. Finally, Riverview Trust Co raised its position in Laboratory Co. of America by 172.6% in the 3rd quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock valued at $38,000 after purchasing an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. HSBC upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Jefferies Financial Group reiterated a “buy” rating and issued a $275.00 price target (up previously from $265.00) on shares of Laboratory Co. of America in a research report on Tuesday. Barclays upped their price target on shares of Laboratory Co. of America from $234.00 to $249.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Evercore ISI reduced their price target on shares of Laboratory Co. of America from $250.00 to $240.00 and set an “in-line” rating for the company in a research report on Tuesday, September 24th. Finally, Robert W. Baird upped their price target on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Laboratory Co. of America presently has a consensus rating of “Moderate Buy” and a consensus target price of $256.75.

Laboratory Co. of America Stock Performance

NYSE:LH opened at $234.52 on Wednesday. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.66. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $247.99. The stock has a market cap of $19.62 billion, a PE ratio of 45.36, a price-to-earnings-growth ratio of 1.91 and a beta of 1.05. The firm’s fifty day simple moving average is $229.54 and its 200-day simple moving average is $219.57.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $3.48 by $0.02. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. The business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same period in the prior year, the company posted $3.38 EPS. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. Analysts expect that Laboratory Co. of America Holdings will post 14.52 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, November 26th will be paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.23%. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 55.71%.

Insider Buying and Selling

In other Laboratory Co. of America news, EVP Glenn A. Eisenberg sold 11,711 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $240.43, for a total value of $2,815,675.73. Following the transaction, the executive vice president now directly owns 31,289 shares in the company, valued at approximately $7,522,814.27. This represents a 27.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kerrii B. Anderson sold 1,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $230.00, for a total transaction of $230,000.00. Following the completion of the transaction, the director now owns 13,722 shares in the company, valued at approximately $3,156,060. This trade represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,572 shares of company stock worth $5,910,209 in the last three months. Corporate insiders own 0.85% of the company’s stock.

Laboratory Co. of America Company Profile

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.