Burney Co. Sells 104 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Burney Co. decreased its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,353 shares of the medical research company’s stock after selling 104 shares during the quarter. Burney Co.’s holdings in Laboratory Co. of America were worth $2,145,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LH. Park Avenue Securities LLC raised its stake in Laboratory Co. of America by 22.7% during the fourth quarter. Park Avenue Securities LLC now owns 6,525 shares of the medical research company’s stock worth $1,496,000 after buying an additional 1,205 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Laboratory Co. of America by 3.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 3,943 shares of the medical research company’s stock worth $904,000 after acquiring an additional 122 shares during the period. Grandview Asset Management LLC bought a new position in shares of Laboratory Co. of America in the 4th quarter worth about $427,000. Cooper Financial Group lifted its stake in shares of Laboratory Co. of America by 1.9% in the 4th quarter. Cooper Financial Group now owns 4,647 shares of the medical research company’s stock valued at $1,066,000 after purchasing an additional 86 shares during the period. Finally, Wedmont Private Capital bought a new stake in shares of Laboratory Co. of America during the 4th quarter valued at about $203,000. Institutional investors and hedge funds own 95.94% of the company’s stock.

Insider Buying and Selling at Laboratory Co. of America

In related news, Director Kerrii B. Anderson sold 1,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $230.00, for a total value of $230,000.00. Following the transaction, the director now directly owns 13,722 shares of the company’s stock, valued at approximately $3,156,060. The trade was a 6.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Glenn A. Eisenberg sold 11,711 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $240.43, for a total transaction of $2,815,675.73. Following the transaction, the executive vice president now owns 31,289 shares of the company’s stock, valued at approximately $7,522,814.27. The trade was a 27.23 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,572 shares of company stock worth $6,145,209. Insiders own 0.85% of the company’s stock.

Analysts Set New Price Targets

LH has been the subject of a number of research analyst reports. Piper Sandler lifted their target price on Laboratory Co. of America from $235.00 to $240.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. StockNews.com lowered shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Evercore ISI raised shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $260.00 to $265.00 in a research note on Tuesday, January 7th. Barclays lifted their price target on shares of Laboratory Co. of America from $234.00 to $249.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Finally, Robert W. Baird raised their target price on Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $260.54.

Laboratory Co. of America Stock Up 1.2 %

LH stock opened at $237.20 on Thursday. The firm has a market capitalization of $19.84 billion, a PE ratio of 45.88, a P/E/G ratio of 1.91 and a beta of 1.06. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.66. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $247.99. The stock’s 50 day moving average is $234.84 and its 200-day moving average is $225.18.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings data on Thursday, October 24th. The medical research company reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.48 by $0.02. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same period last year, the business earned $3.38 EPS. The business’s revenue was up 7.4% on a year-over-year basis. Sell-side analysts expect that Laboratory Co. of America Holdings will post 14.52 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The company also recently disclosed 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 1.21%. Laboratory Co. of America’s payout ratio is 55.71%.

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.