Envestnet Portfolio Solutions Inc. Has $2.30 Million Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

Envestnet Portfolio Solutions Inc. lessened its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 4.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,132 shares of the medical research company’s stock after selling 430 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Laboratory Co. of America were worth $2,303,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Provence Wealth Management Group purchased a new position in Laboratory Co. of America during the third quarter worth about $29,000. Mendota Financial Group LLC purchased a new position in shares of Laboratory Co. of America in the 4th quarter worth approximately $29,000. Bruce G. Allen Investments LLC bought a new position in shares of Laboratory Co. of America in the fourth quarter valued at approximately $60,000. Disciplined Equity Management Inc. purchased a new stake in shares of Laboratory Co. of America during the fourth quarter valued at approximately $68,000. Finally, Oakworth Capital Inc. lifted its holdings in Laboratory Co. of America by 48.1% during the fourth quarter. Oakworth Capital Inc. now owns 308 shares of the medical research company’s stock worth $70,000 after acquiring an additional 100 shares during the period. Institutional investors own 95.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Truist Financial reduced their price objective on Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating for the company in a research note on Friday, April 26th. Argus upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 price objective for the company in a report on Monday, March 25th. Leerink Partnrs reaffirmed 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 shares of Laboratory Co. of America from $255.00 to $244.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. Finally, SVB Leerink assumed coverage on shares of Laboratory Co. of America in a report on Monday, February 26th. They issued an “outperform” rating and a $260.00 price target on the stock. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Laboratory Co. of America presently has an average rating of “Moderate Buy” and a consensus target price of $243.14.

Insider Activity

In other news, CAO Peter J. Wilkinson sold 2,439 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $204.33, for a total value of $498,360.87. Following the completion of the sale, the chief accounting officer now owns 2,087 shares of the company’s stock, valued at approximately $426,436.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Peter J. Wilkinson sold 2,439 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $204.33, for a total transaction of $498,360.87. Following the transaction, the chief accounting officer now directly owns 2,087 shares in the company, valued at approximately $426,436.71. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Glenn A. Eisenberg sold 34,504 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $215.97, for a total value of $7,451,828.88. Following the completion of the sale, the chief financial officer now owns 23,595 shares of the company’s stock, valued at approximately $5,095,812.15. The disclosure for this sale can be found here. In the last three months, insiders have sold 58,748 shares of company stock worth $12,670,956. 0.85% of the stock is currently owned by insiders.

Laboratory Co. of America Trading Down 0.0 %

Shares of LH opened at $213.13 on Friday. Laboratory Co. of America Holdings has a 1-year low of $174.20 and a 1-year high of $234.09. The company has a market capitalization of $17.97 billion, a P/E ratio of 42.88, a P/E/G ratio of 1.60 and a beta of 1.02. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.88 and a quick ratio of 0.76. The firm’s 50 day simple moving average is $208.42 and its 200 day simple moving average is $215.13.

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

Laboratory Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 28th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Friday, May 24th. Laboratory Co. of America’s payout ratio is currently 57.95%.

About Laboratory Co. of America

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).