OneDigital Investment Advisors LLC Has $1.36 Million Stake in Laboratory Co. of America Holdings (NYSE:LH)

OneDigital Investment Advisors LLC boosted its stake in Laboratory Co. of America Holdings (NYSE:LH) by 115.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 6,088 shares of the medical research company’s stock after buying an additional 3,265 shares during the period. OneDigital Investment Advisors LLC’s holdings in Laboratory Co. of America were worth $1,361,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Industrial Alliance Investment Management Inc. bought a new stake in shares of Laboratory Co. of America in the 2nd quarter valued at about $27,000. Horizon Bancorp Inc. IN bought a new position in shares of Laboratory Co. of America in the 3rd quarter worth $29,000. Pathway Financial Advisers LLC acquired a new position in Laboratory Co. of America during the first quarter worth $30,000. Innealta Capital LLC acquired a new position in shares of Laboratory Co. of America during the second quarter valued at about $32,000. Finally, Family Firm Inc. bought a new stake in shares of Laboratory Co. of America during the second quarter worth about $37,000. 95.94% of the stock is currently owned by institutional investors.

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,189 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $243.47, for a total value of $1,506,835.83. Following the completion of the sale, the chief executive officer now owns 87,441 shares in the company, valued at approximately $21,289,260.27. This represents a 6.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kerrii B. Anderson sold 1,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $230.00, for a total value of $230,000.00. Following the completion of the transaction, the director now owns 13,722 shares in the company, valued at $3,156,060. The trade was a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by corporate insiders.

Laboratory Co. of America Trading Up 1.5 %

Laboratory Co. of America stock opened at $238.64 on Tuesday. The business has a 50-day simple moving average of $224.64 and a two-hundred day simple moving average of $216.10. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $247.99. 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 company has a market cap of $19.96 billion, a P/E ratio of 46.16, a P/E/G ratio of 1.93 and a beta of 1.05.

Laboratory Co. of America (NYSE:LH) last announced its earnings results on Thursday, October 24th. The medical research company reported $3.50 EPS for the quarter, beating analysts’ consensus estimates of $3.48 by $0.02. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. The firm’s revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the company earned $3.38 earnings per share. Analysts predict that Laboratory Co. of America Holdings will post 14.53 EPS for the current year.

Laboratory Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, November 26th will be given 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 1.21%. Laboratory Co. of America’s payout ratio is currently 55.71%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on LH shares. Bank of America increased their price target on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Jefferies Financial Group raised their price objective on shares of Laboratory Co. of America from $245.00 to $265.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. HSBC upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Robert W. Baird lifted their price target on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Finally, Hsbc Global Res raised Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Laboratory Co. of America currently has an average rating of “Moderate Buy” and an average target price of $255.92.

Laboratory Co. of America 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.