Orser Capital Management LLC trimmed its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 7.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,225 shares of the medical research company’s stock after selling 950 shares during the quarter. Laboratory Co. of America comprises 1.9% of Orser Capital Management LLC’s portfolio, making the stock its 21st largest holding. Orser Capital Management LLC’s holdings in Laboratory Co. of America were worth $2,863,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the stock. Cigna Investments Inc. New grew its holdings in Laboratory Co. of America by 3.5% in the 1st quarter. Cigna Investments Inc. New now owns 3,568 shares of the medical research company’s stock worth $910,000 after buying an additional 122 shares in the last quarter. Rafferty Asset Management LLC grew its holdings in Laboratory Co. of America by 14.7% in the 1st quarter. Rafferty Asset Management LLC now owns 1,842 shares of the medical research company’s stock worth $470,000 after buying an additional 236 shares in the last quarter. Integral Health Asset Management LLC bought a new position in Laboratory Co. of America in the 1st quarter worth approximately $6,376,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in Laboratory Co. of America in the 1st quarter worth approximately $179,000. Finally, Diversified Trust Co boosted its stake in Laboratory Co. of America by 4.7% during the 1st quarter. Diversified Trust Co now owns 15,710 shares of the medical research company’s stock valued at $4,007,000 after purchasing an additional 705 shares in the last quarter. 88.98% of the stock is owned by institutional investors and hedge funds.
Shares of LH traded up $0.78 during mid-day trading on Thursday, reaching $275.93. The company’s stock had a trading volume of 6,810 shares, compared to its average volume of 640,237. The business has a fifty day moving average of $266.05 and a 200 day moving average of $233.21. The company has a market cap of $26.96 billion, a price-to-earnings ratio of 10.23, a price-to-earnings-growth ratio of 1.14 and a beta of 1.04. Laboratory Co. of America Holdings has a 1 year low of $155.65 and a 1 year high of $280.69. The company has a quick ratio of 1.55, a current ratio of 1.67 and a debt-to-equity ratio of 0.50.
Laboratory Co. of America (NYSE:LH) last released its earnings results on Wednesday, April 28th. The medical research company reported $8.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $7.32 by $1.47. The company had revenue of $4.16 billion during the quarter, compared to analyst estimates of $3.88 billion. Laboratory Co. of America had a return on equity of 34.07% and a net margin of 17.26%. On average, analysts predict that Laboratory Co. of America Holdings will post 22.5 earnings per share for the current year.
In related news, EVP Mark S. Schroeder sold 667 shares of the stock in a transaction on Tuesday, March 30th. The stock was sold at an average price of $251.88, for a total transaction of $168,003.96. Following the completion of the sale, the executive vice president now directly owns 5,006 shares in the company, valued at $1,260,911.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jean-Luc Belingard sold 2,600 shares of the stock in a transaction on Monday, May 3rd. The stock was sold at an average price of $269.16, for a total value of $699,816.00. Following the sale, the director now owns 18,169 shares of the company’s stock, valued at $4,890,368.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,767 shares of company stock valued at $1,559,195. 0.31% of the stock is owned by corporate insiders.
A number of brokerages have issued reports on LH. Truist increased their price target on Laboratory Co. of America from $300.00 to $320.00 in a research note on Monday, May 3rd. Citigroup increased their price target on Laboratory Co. of America from $278.00 to $312.00 in a research note on Monday, May 3rd. Argus increased their price target on Laboratory Co. of America from $270.00 to $295.00 and gave the company a “buy” rating in a research note on Wednesday. Truist Securities increased their price target on Laboratory Co. of America from $280.00 to $300.00 and gave the company a “buy” rating in a research note on Tuesday, April 20th. Finally, Mizuho increased their price target on Laboratory Co. of America from $267.00 to $310.00 and gave the company a “buy” rating in a research note on Tuesday, May 18th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Laboratory Co. of America has a consensus rating of “Buy” and a consensus price target of $267.00.
About Laboratory Co. of America
Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates in two segments, Labcorp Diagnostics (Dx) and Labcorp Drug Development (DD). It offers various tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C and vitamin D products, prostate-specific antigens, tests for sexually transmitted diseases, hepatitis C tests, microbiology cultures and procedures, and alcohol and other substance-abuse tests.
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