Martin & Co. Inc. TN Has $4.55 Million Position in Laboratory Co. of America Holdings (NYSE:LH)

Martin & Co. Inc. TN cut its stake in Laboratory Co. of America Holdings (NYSE:LH) by 4.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,847 shares of the medical research company’s stock after selling 838 shares during the period. Laboratory Co. of America accounts for about 1.1% of Martin & Co. Inc. TN’s investment portfolio, making the stock its 27th biggest position. Martin & Co. Inc. TN’s holdings in Laboratory Co. of America were worth $4,551,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of LH. SouthState Corp bought a new stake in Laboratory Co. of America during the third quarter worth $28,000. Horizon Bancorp Inc. IN bought a new position in Laboratory Co. of America during the third quarter worth about $29,000. Fortitude Family Office LLC grew its stake 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 buying an additional 100 shares in the last quarter. Concord Wealth Partners grew its stake 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 buying an additional 52 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its stake in shares of Laboratory Co. of America by 309.8% in the 4th quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock valued at $39,000 after purchasing an additional 127 shares in the last quarter. 95.94% of the stock is owned by institutional investors.

Laboratory Co. of America Stock Up 0.8 %

Laboratory Co. of America stock opened at $246.74 on Monday. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week 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 has a market capitalization of $20.64 billion, a P/E ratio of 27.98, a PEG ratio of 1.84 and a beta of 1.07. The stock has a 50-day simple moving average of $237.42 and a 200-day simple moving average of $231.14.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $3.40 by $0.05. Laboratory Co. of America had a return on equity of 15.29% and a net margin of 5.73%. Equities research analysts expect that Laboratory Co. of America Holdings will post 15.96 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

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

Wall Street Analysts Forecast Growth

LH has been the topic of several recent research reports. UBS Group cut their target price on shares of Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Morgan Stanley increased their price target 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. HSBC raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. Barclays lowered their target price on shares of Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating on the stock in a research note on Friday, February 7th. Finally, 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. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $265.31.

Insider Transactions at Laboratory Co. of America

In related news, EVP Glenn A. Eisenberg sold 11,711 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $240.43, for a total value of $2,815,675.73. Following the completion of the transaction, the executive vice president now directly owns 31,289 shares in the company, valued at approximately $7,522,814.27. This represents a 27.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kerrii B. Anderson sold 1,000 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $235.00, for a total value of $235,000.00. Following the sale, the director now owns 12,722 shares in the company, valued at $2,989,670. The trade was a 7.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,504 shares of company stock valued at $5,905,692. 0.85% of the stock is currently owned by corporate insiders.

About Laboratory Co. of America

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