Venturi Wealth Management LLC boosted its position in Laboratory Co. of America Holdings (NYSE:LH – Free Report) by 64.2% during the 4th quarter, Holdings Channel reports. The fund owned 2,669 shares of the medical research company’s stock after acquiring an additional 1,044 shares during the quarter. Venturi Wealth Management LLC’s holdings in Laboratory Co. of America were worth $612,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in LH. Private Trust Co. NA lifted its position in Laboratory Co. of America by 3.2% during the 3rd quarter. Private Trust Co. NA now owns 1,342 shares of the medical research company’s stock worth $300,000 after acquiring an additional 41 shares in the last quarter. Empowered Funds LLC raised its position in shares of Laboratory Co. of America by 0.5% in the 4th quarter. Empowered Funds LLC now owns 8,025 shares of the medical research company’s stock valued at $1,840,000 after purchasing an additional 43 shares in the last quarter. Empirical Finance LLC raised its position in shares of Laboratory Co. of America by 1.7% during the 3rd quarter. Empirical Finance LLC now owns 3,055 shares of the medical research company’s stock valued at $683,000 after acquiring an additional 50 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of Laboratory Co. of America by 16.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 354 shares of the medical research company’s stock valued at $81,000 after acquiring an additional 50 shares in the last quarter. Finally, Concord Wealth Partners raised its position in shares of Laboratory Co. of America by 43.3% during the 3rd quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock valued at $38,000 after acquiring an additional 52 shares in the last quarter. 95.94% of the stock is currently owned by hedge funds and other institutional investors.
Laboratory Co. of America Stock Performance
Shares of NYSE LH opened at $247.79 on Thursday. 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 firm has a market cap of $20.73 billion, a price-to-earnings ratio of 28.09, a P/E/G ratio of 1.69 and a beta of 1.07. The business’s 50-day simple moving average is $237.86 and its 200-day simple moving average is $231.31. Laboratory Co. of America Holdings has a 52 week low of $191.97 and a 52 week high of $258.59.
Laboratory Co. of America Announces Dividend
The firm 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 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio is currently 32.65%.
Analyst Ratings Changes
LH has been the subject of a number of recent research reports. Evercore ISI upgraded Laboratory Co. of America from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $260.00 to $265.00 in a research note on Tuesday, January 7th. Barclays lowered their price objective on Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating for the company in a research note on Friday, February 7th. Morgan Stanley upped their price objective on Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. UBS Group lowered their price objective on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Finally, Bank of America increased their price target on Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $265.31.
Get Our Latest Stock Analysis on LH
Insiders Place Their Bets
In other news, CMO Amy B. Summy sold 3,672 shares of Laboratory Co. of America stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $238.91, for a total transaction of $877,277.52. Following the sale, the chief marketing officer now owns 4,318 shares of the company’s stock, valued at approximately $1,031,613.38. This trade represents a 45.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kerrii B. Anderson sold 1,000 shares of Laboratory Co. of America stock in a transaction that occurred 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 directly 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. Insiders have sold a total of 23,504 shares of company stock valued at $5,666,272 in the last three months. Company insiders own 0.85% of the company’s stock.
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.
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