Orion Portfolio Solutions LLC Has $2.97 Million Position in Laboratory Co. of America Holdings (NYSE:LH)

Orion Portfolio Solutions LLC reduced its holdings in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 10.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,929 shares of the medical research company's stock after selling 1,579 shares during the period. Orion Portfolio Solutions LLC's holdings in Laboratory Co. of America were worth $2,965,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of LH. Quantbot Technologies LP bought a new position in Laboratory Co. of America during the 3rd quarter worth approximately $596,000. CreativeOne Wealth LLC raised its holdings in Laboratory Co. of America by 19.7% in the third quarter. CreativeOne Wealth LLC now owns 1,488 shares of the medical research company's stock worth $332,000 after purchasing an additional 245 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Laboratory Co. of America by 14.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,689 shares of the medical research company's stock worth $3,953,000 after purchasing an additional 2,234 shares in the last quarter. Public Sector Pension Investment Board grew its holdings in shares of Laboratory Co. of America by 9.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 3,572 shares of the medical research company's stock valued at $798,000 after buying an additional 300 shares during the period. Finally, True Wealth Design LLC increased its position in shares of Laboratory Co. of America by 3,660.0% in the 3rd quarter. True Wealth Design LLC now owns 188 shares of the medical research company's stock valued at $42,000 after buying an additional 183 shares in the last quarter. Institutional investors and hedge funds own 95.94% of the company's stock.

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Insider Activity

In other Laboratory Co. of America news, EVP Amy B. Summy sold 758 shares of Laboratory Co. of America stock in a transaction on Friday, March 28th. The shares were sold at an average price of $231.67, for a total transaction of $175,605.86. Following the completion of the transaction, the executive vice president now directly owns 5,302 shares of the company's stock, valued at $1,228,314.34. The trade was a 12.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Adam H. Schechter sold 6,121 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $244.62, for a total transaction of $1,497,319.02. Following the completion of the transaction, the chief executive officer now directly owns 86,445 shares in the company, valued at $21,146,175.90. The trade was a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,258 shares of company stock valued at $3,753,177 in the last quarter. Company insiders own 0.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on LH shares. Bank of America boosted their target price on Laboratory Co. of America from $262.00 to $271.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Evercore ISI upgraded Laboratory Co. of America from an "in-line" rating to an "outperform" rating and boosted their price objective for the company from $260.00 to $265.00 in a research report on Tuesday, January 7th. Jefferies Financial Group raised their target price on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. StockNews.com lowered shares of Laboratory Co. of America from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Finally, Redburn Atlantic began coverage on shares of Laboratory Co. of America in a research report on Wednesday. They set a "buy" rating and a $276.00 price objective for the company. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $270.38.

Laboratory Co. of America Stock Down 4.7 %

Shares of NYSE LH traded down $10.97 during mid-day trading on Friday, hitting $222.49. The company had a trading volume of 1,424,173 shares, compared to its average volume of 629,067. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year high of $258.59. The company has a market capitalization of $18.62 billion, a PE ratio of 25.23, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67. The firm has a 50-day simple moving average of $243.63 and a two-hundred day simple moving average of $234.90.

Laboratory Co. of America (NYSE:LH - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share for the quarter, topping the consensus estimate of $3.40 by $0.05. Laboratory Co. of America had a return on equity of 15.29% and a net margin of 5.73%. On average, equities analysts expect that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th were paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date was Thursday, February 27th. Laboratory Co. of America's dividend payout ratio is currently 32.65%.

Laboratory Co. of America Profile

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.