Natixis Advisors LLC Purchases 42,999 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Natixis Advisors LLC raised its position in Laboratory Co. of America Holdings (NYSE:LH) by 17.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 291,923 shares of the medical research company’s stock after purchasing an additional 42,999 shares during the period. Natixis Advisors LLC’s holdings in Laboratory Co. of America were worth $65,239,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Industrial Alliance Investment Management Inc. bought a new stake in Laboratory Co. of America during the second quarter valued at $27,000. Horizon Bancorp Inc. IN bought a new stake in shares of Laboratory Co. of America during the 3rd quarter valued at about $29,000. Pathway Financial Advisers LLC purchased a new position in shares of Laboratory Co. of America during the first quarter worth about $30,000. Innealta Capital LLC bought a new position in shares of Laboratory Co. of America in the second quarter worth approximately $32,000. Finally, Family Firm Inc. bought a new position in shares of Laboratory Co. of America in the second quarter worth approximately $37,000. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LH has been the subject of a number of research reports. Jefferies Financial Group boosted their price target on shares of Laboratory Co. of America from $245.00 to $265.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Robert W. Baird upped their target price on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. 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. Piper Sandler lifted their price target on Laboratory Co. of America from $235.00 to $240.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Finally, Barclays increased their price objective on 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. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $255.92.

Laboratory Co. of America Stock Performance

NYSE:LH opened at $235.21 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.44. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $247.99. The firm has a market cap of $19.67 billion, a PE ratio of 45.50, a price-to-earnings-growth ratio of 1.93 and a beta of 1.05. The business has a 50 day moving average price of $224.40 and a 200-day moving average price of $215.73.

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

Laboratory Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, November 26th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Tuesday, November 26th. Laboratory Co. of America’s dividend payout ratio (DPR) is currently 55.71%.

Insider Transactions at Laboratory Co. of America

In other news, Director Kerrii B. Anderson sold 1,000 shares of the firm’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 sale, the director now directly owns 13,722 shares of the company’s stock, valued at approximately $3,156,060. This trade represents a 6.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Adam H. Schechter sold 6,189 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $243.47, for a total transaction of $1,506,835.83. Following the transaction, the chief executive officer now owns 87,441 shares in the company, valued at $21,289,260.27. This represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,189 shares of company stock worth $2,190,936. 0.85% of the stock is currently owned by insiders.

About Laboratory Co. of America

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.