Valeo Financial Advisors LLC Trims Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

Valeo Financial Advisors LLC lowered its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 5.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,713 shares of the medical research company’s stock after selling 299 shares during the period. Valeo Financial Advisors LLC’s holdings in Laboratory Co. of America were worth $1,310,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mcrae Capital Management Inc. boosted its stake in shares of Laboratory Co. of America by 1.6% in the fourth quarter. Mcrae Capital Management Inc. now owns 84,446 shares of the medical research company’s stock valued at $19,365,000 after purchasing an additional 1,295 shares during the period. Asset Management One Co. Ltd. lifted its position in shares of Laboratory Co. of America by 3.8% in the 4th quarter. Asset Management One Co. Ltd. now owns 32,799 shares of the medical research company’s stock worth $7,558,000 after buying an additional 1,205 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Laboratory Co. of America by 2.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,916,505 shares of the medical research company’s stock worth $437,357,000 after purchasing an additional 51,045 shares during the last quarter. Mill Creek Capital Advisors LLC bought a new position in shares of Laboratory Co. of America during the fourth quarter worth about $347,000. Finally, Kestra Private Wealth Services LLC boosted its position in shares of Laboratory Co. of America by 132.6% during the fourth quarter. Kestra Private Wealth Services LLC now owns 3,056 shares of the medical research company’s stock worth $701,000 after buying an additional 1,742 shares during the period. 95.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LH has been the subject of several research reports. Morgan Stanley raised their price objective on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Bank of America upped their price target on Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Hsbc Global Res upgraded shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Jefferies Financial Group lifted their price target on 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, Piper Sandler raised 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 research report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $265.31.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,121 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $244.62, for a total value of $1,497,319.02. Following the sale, the chief executive officer now owns 86,445 shares of the company’s stock, valued at $21,146,175.90. The trade was a 6.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kerrii B. Anderson sold 1,000 shares of Laboratory Co. of America stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total transaction of $235,000.00. Following the sale, the director now owns 12,722 shares in the company, valued at approximately $2,989,670. This trade represents a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,504 shares of company stock valued at $5,905,692 in the last quarter. Corporate insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Performance

Shares of NYSE LH opened at $246.74 on Friday. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $258.59. The company has a market cap of $20.64 billion, a P/E ratio of 27.98, a P/E/G ratio of 1.84 and a beta of 1.07. The business’s 50 day moving average is $237.42 and its two-hundred day moving average is $230.91. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67.

Laboratory Co. of America (NYSE:LH) last released its earnings results on Thursday, February 6th. The medical research company reported $3.45 EPS 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%. On average, equities analysts expect that Laboratory Co. of America Holdings will post 15.96 EPS for the current year.

Laboratory Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be paid a dividend of $0.72 per share. The ex-dividend date is Thursday, February 27th. This represents a $2.88 annualized dividend and a yield of 1.17%. Laboratory Co. of America’s dividend payout ratio is 32.65%.

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.