Inlet Private Wealth LLC Has $3.43 Million Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

Inlet Private Wealth LLC lessened its stake in Laboratory Co. of America Holdings (NYSE:LH) by 5.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,937 shares of the medical research company’s stock after selling 880 shares during the quarter. Inlet Private Wealth LLC’s holdings in Laboratory Co. of America were worth $3,425,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. SouthState Corp bought a new position in Laboratory Co. of America during the third quarter worth $28,000. Horizon Bancorp Inc. IN bought a new stake in shares of Laboratory Co. of America during the 3rd quarter worth about $29,000. Fortitude Family Office LLC grew its stake in Laboratory Co. of America by 312.5% in the 4th quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock valued at $30,000 after buying an additional 100 shares during the last quarter. Riverview Trust Co raised its holdings in Laboratory Co. of America by 172.6% in the 3rd quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock valued at $38,000 after acquiring an additional 107 shares during the period. Finally, Concord Wealth Partners lifted its position 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 acquiring an additional 52 shares during the last quarter. 95.94% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Der Vaart Sandra D. Van sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $239.42, for a total value of $239,420.00. Following the transaction, the executive vice president now owns 2,670 shares in the company, valued at approximately $639,251.40. This trade represents a 27.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Glenn A. Eisenberg sold 11,711 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $240.43, for a total transaction of $2,815,675.73. Following the completion of the sale, the executive vice president now directly owns 31,289 shares in the company, valued at approximately $7,522,814.27. This trade represents a 27.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,572 shares of company stock worth $5,915,209. 0.85% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on LH shares. Piper Sandler boosted their price target on Laboratory Co. of America from $235.00 to $240.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Robert W. Baird raised their target price on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Barclays boosted their price target on 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. Hsbc Global Res raised Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Finally, Bank of America upped their target price 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. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $261.77.

Laboratory Co. of America Stock Performance

Laboratory Co. of America stock opened at $249.39 on Friday. The firm’s 50 day simple moving average is $236.02 and its 200 day simple moving average is $228.54. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $258.59. The firm has a market capitalization of $20.86 billion, a PE ratio of 48.24, a price-to-earnings-growth ratio of 1.83 and a beta of 1.06.

Laboratory Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend is Thursday, February 27th. Laboratory Co. of America’s payout ratio is 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.