Quantinno Capital Management LP Grows Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

Quantinno Capital Management LP lifted its stake in Laboratory Co. of America Holdings (NYSE:LH) by 6.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,194 shares of the medical research company’s stock after buying an additional 206 shares during the period. Quantinno Capital Management LP’s holdings in Laboratory Co. of America were worth $714,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. OneDigital Investment Advisors LLC increased its holdings in shares of Laboratory Co. of America by 115.7% in the third quarter. OneDigital Investment Advisors LLC now owns 6,088 shares of the medical research company’s stock worth $1,361,000 after buying an additional 3,265 shares during the period. Alexander Randolph Advisory Inc. purchased a new position in shares of Laboratory Co. of America in the third quarter worth about $955,000. Marietta Wealth Management LLC increased its holdings in shares of Laboratory Co. of America by 50.7% in the second quarter. Marietta Wealth Management LLC now owns 19,540 shares of the medical research company’s stock worth $3,977,000 after buying an additional 6,575 shares during the period. Mutual of America Capital Management LLC purchased a new position in Laboratory Co. of America during the 3rd quarter valued at about $2,316,000. Finally, Banyan Capital Management Inc. increased its holdings in Laboratory Co. of America by 8.4% during the 2nd quarter. Banyan Capital Management Inc. now owns 37,781 shares of the medical research company’s stock valued at $7,689,000 after purchasing an additional 2,925 shares during the period. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on LH. Piper Sandler boosted their price target on Laboratory Co. of America from $235.00 to $240.00 and gave the company a “neutral” rating in a report on Monday, October 28th. HSBC upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. Bank of America boosted their price target on Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a report on Friday. Jefferies Financial Group restated a “buy” rating and set a $275.00 price target (up previously from $265.00) on shares of Laboratory Co. of America in a report on Tuesday. Finally, Hsbc Global Res raised Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $257.67.

Laboratory Co. of America Stock Performance

Shares of LH opened at $232.01 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.66. The business’s 50 day moving average price is $230.72 and its 200-day moving average price is $220.19. Laboratory Co. of America Holdings has a 52 week low of $191.97 and a 52 week high of $247.99. The stock has a market cap of $19.41 billion, a P/E ratio of 44.88, a P/E/G ratio of 1.89 and a beta of 1.05.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings results on Thursday, October 24th. The medical research company reported $3.50 EPS for the quarter, topping analysts’ consensus estimates of $3.48 by $0.02. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same period in the previous year, the firm posted $3.38 EPS. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. Equities research analysts anticipate 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Tuesday, November 26th were given a $0.72 dividend. The ex-dividend date was Tuesday, November 26th. This represents a $2.88 annualized dividend and a yield of 1.24%. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 55.71%.

Insider Activity at Laboratory Co. of America

In related news, EVP Der Vaart Sandra D. Van sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $239.42, for a total value of $239,420.00. Following the transaction, the executive vice president now directly owns 2,670 shares of the company’s stock, valued at approximately $639,251.40. This represents a 27.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Adam H. Schechter sold 6,189 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $243.47, for a total value of $1,506,835.83. Following the completion of the transaction, the chief executive officer now directly owns 87,441 shares in the company, valued at $21,289,260.27. This trade represents a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,572 shares of company stock valued at $5,910,209. 0.85% of the stock is owned by corporate insiders.

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.