Laboratory Co. of America Holdings (NYSE:LH) Shares Purchased by Allworth Financial LP

Allworth Financial LP lifted its position in Laboratory Co. of America Holdings (NYSE:LH) by 43.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 631 shares of the medical research company’s stock after purchasing an additional 190 shares during the period. Allworth Financial LP’s holdings in Laboratory Co. of America were worth $153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. SouthState Corp acquired a new position in Laboratory Co. of America during the third quarter worth $28,000. Fortitude Family Office LLC raised its position in Laboratory Co. of America by 312.5% during the fourth quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock worth $30,000 after acquiring an additional 100 shares during the period. Geneos Wealth Management Inc. raised its position in Laboratory Co. of America by 309.8% during the fourth quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock worth $39,000 after acquiring an additional 127 shares during the period. Concord Wealth Partners raised its position in Laboratory Co. of America by 43.3% during the third quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock worth $38,000 after acquiring an additional 52 shares during the period. Finally, Kennebec Savings Bank purchased a new stake in shares of Laboratory Co. of America during the third quarter worth $42,000. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on LH shares. Barclays dropped their target price on shares of Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating for the company in a report on Friday, February 7th. HSBC raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. Piper Sandler upped their price objective on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Jefferies Financial Group upped their price objective on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Finally, Hsbc Global Res raised shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Laboratory Co. of America currently has an average rating of “Moderate Buy” and a consensus price target of $265.31.

Laboratory Co. of America Stock Up 0.3 %

Shares of LH opened at $249.86 on Monday. The stock has a market capitalization of $20.90 billion, a PE ratio of 28.33, a P/E/G ratio of 1.71 and a beta of 1.07. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $258.59. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44. The company’s 50-day simple moving average is $238.93 and its 200-day simple moving average is $231.82.

Laboratory Co. of America (NYSE:LH) last issued its earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share for the quarter, beating the consensus estimate of $3.40 by $0.05. Laboratory Co. of America had a net margin of 5.73% and a return on equity of 15.29%. Analysts forecast that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $2.88 annualized dividend and a yield of 1.15%. Laboratory Co. of America’s dividend payout ratio (DPR) is 32.65%.

Insider Activity at Laboratory Co. of America

In other news, CEO Adam H. Schechter sold 6,121 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $244.62, for a total transaction of $1,497,319.02. Following the completion of the sale, the chief executive officer now owns 86,445 shares in the company, valued at approximately $21,146,175.90. The trade was a 6.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Glenn A. Eisenberg sold 11,711 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $240.43, for a total transaction of $2,815,675.73. Following the sale, the executive vice president now owns 31,289 shares of the company’s stock, valued at $7,522,814.27. This represents a 27.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,832 shares of company stock valued at $4,788,995 over the last 90 days. 0.85% of the stock is owned by corporate insiders.

Laboratory Co. of America Profile

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.