Wealthspire Advisors LLC Purchases 233 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Wealthspire Advisors LLC grew its position in Laboratory Co. of America Holdings (NYSE:LH) by 6.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,844 shares of the medical research company’s stock after purchasing an additional 233 shares during the quarter. Wealthspire Advisors LLC’s holdings in Laboratory Co. of America were worth $882,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. AMF Tjanstepension AB boosted its holdings in Laboratory Co. of America by 37.0% in the 3rd quarter. AMF Tjanstepension AB now owns 86,026 shares of the medical research company’s stock worth $19,232,000 after buying an additional 23,221 shares during the period. Private Advisor Group LLC grew its position in shares of Laboratory Co. of America by 55.2% during the third quarter. Private Advisor Group LLC now owns 8,410 shares of the medical research company’s stock worth $1,879,000 after purchasing an additional 2,990 shares in the last quarter. International Assets Investment Management LLC raised its stake in Laboratory Co. of America by 59,626.5% during the 3rd quarter. International Assets Investment Management LLC now owns 67,491 shares of the medical research company’s stock valued at $15,083,000 after purchasing an additional 67,378 shares during the period. Assenagon Asset Management S.A. bought a new stake in Laboratory Co. of America during the 3rd quarter valued at approximately $854,000. Finally, Ballentine Partners LLC purchased a new position in Laboratory Co. of America in the 3rd quarter worth approximately $249,000. 95.94% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Laboratory Co. of America

In related news, Director Dwight Gary Gilliland sold 1,000 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $241.00, for a total transaction of $241,000.00. Following the completion of the transaction, the director now owns 7,712 shares in the company, valued at $1,858,592. The trade was a 11.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Glenn A. Eisenberg sold 11,711 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were 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 $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 ninety days, insiders have sold 19,832 shares of company stock worth $4,788,995. Insiders own 0.85% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on LH shares. UBS Group cut their price objective on shares of Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Jefferies Financial Group raised their target price on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Bank of America boosted their price target on shares of 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. Hsbc Global Res upgraded Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Finally, Evercore ISI upgraded Laboratory Co. of America from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $260.00 to $265.00 in a research report on Tuesday, January 7th. Three equities research 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 company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $265.31.

Laboratory Co. of America Price Performance

Shares of Laboratory Co. of America stock opened at $253.07 on Wednesday. The stock has a market cap of $21.17 billion, a price-to-earnings ratio of 28.69, a price-to-earnings-growth ratio of 1.71 and a beta of 1.07. 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 stock has a 50 day moving average price of $239.81 and a 200-day moving average price of $232.20. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year high of $258.59.

Laboratory Co. of America (NYSE:LH) last issued its quarterly 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 analysts expect that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Dividend Announcement

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 issued 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 1.14%. Laboratory Co. of America’s payout ratio is 32.65%.

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.