Clear Harbor Asset Management LLC Grows Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

Clear Harbor Asset Management LLC lifted its position in Laboratory Co. of America Holdings (NYSE:LH) by 1.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,998 shares of the medical research company’s stock after acquiring an additional 65 shares during the period. Clear Harbor Asset Management LLC’s holdings in Laboratory Co. of America were worth $917,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in LH. State Street Corp boosted its holdings in shares of Laboratory Co. of America by 0.7% during the 3rd quarter. State Street Corp now owns 3,726,627 shares of the medical research company’s stock worth $832,827,000 after purchasing an additional 25,469 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its stake in Laboratory Co. of America by 1.5% during the third quarter. Diamond Hill Capital Management Inc. now owns 1,978,686 shares of the medical research company’s stock worth $442,197,000 after buying an additional 29,046 shares during the last quarter. Geode Capital Management LLC grew its holdings in Laboratory Co. of America by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,964,743 shares of the medical research company’s stock valued at $437,561,000 after buying an additional 13,298 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Laboratory Co. of America by 9.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company’s stock valued at $431,405,000 after buying an additional 167,137 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Laboratory Co. of America by 16.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,865,460 shares of the medical research company’s stock worth $416,893,000 after acquiring an additional 263,105 shares during the last quarter. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LH. Bank of America upped their price objective on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a report on Friday, December 13th. Barclays raised their price target on shares of Laboratory Co. of America from $234.00 to $249.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Morgan Stanley upped their price objective on Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Hsbc Global Res upgraded Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Finally, Robert W. Baird increased their price target on Laboratory Co. of America from $282.00 to $289.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Four investment analysts have rated the stock with a hold rating, twelve 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 has a consensus rating of “Moderate Buy” and an average target price of $260.54.

Insider Transactions at Laboratory Co. of America

In other news, Director Kerrii B. Anderson sold 1,000 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $235.00, for a total transaction of $235,000.00. Following the completion of the transaction, the director now directly owns 12,722 shares of the company’s stock, valued at approximately $2,989,670. This represents a 7.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Adam H. Schechter sold 6,189 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 87,441 shares in the company, valued at $21,289,260.27. This trade represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,572 shares of company stock valued at $6,145,209. 0.85% of the stock is currently owned by corporate insiders.

Laboratory Co. of America Trading Up 2.4 %

NYSE LH opened at $244.39 on Wednesday. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year high of $247.99. The firm has a 50 day simple moving average of $234.69 and a 200-day simple moving average of $226.15. The firm has a market cap of $20.44 billion, a price-to-earnings ratio of 47.27, a PEG ratio of 1.78 and a beta of 1.06. 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 (NYSE:LH) last posted its quarterly earnings results on Thursday, October 24th. The medical research company reported $3.50 EPS for the quarter, topping the consensus estimate of $3.48 by $0.02. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.38 earnings per share. Equities research analysts anticipate that Laboratory Co. of America Holdings will post 14.51 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.18%. Laboratory Co. of America’s dividend payout ratio is currently 55.71%.

Laboratory Co. of America Company Profile

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