Laboratory Co. of America Holdings (NYSE:LH) Stock Position Raised by Linscomb Wealth Inc.

Linscomb Wealth Inc. lifted its position in Laboratory Co. of America Holdings (NYSE:LH) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,539 shares of the medical research company’s stock after buying an additional 389 shares during the quarter. Linscomb Wealth Inc.’s holdings in Laboratory Co. of America were worth $3,105,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. SouthState Corp bought a new stake in Laboratory Co. of America in the third quarter worth approximately $28,000. Fortitude Family Office LLC lifted its stake in shares of 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 purchasing an additional 100 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in Laboratory Co. of America by 309.8% in the fourth quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock worth $39,000 after purchasing an additional 127 shares in the last quarter. Human Investing LLC acquired a new position in Laboratory Co. of America during the fourth quarter worth $39,000. Finally, Kennebec Savings Bank bought a new position in Laboratory Co. of America during the third quarter valued at about $42,000. 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 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 value of $241,000.00. Following the sale, the director now owns 7,712 shares of the company’s stock, valued at $1,858,592. The trade was a 11.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adam H. Schechter sold 6,121 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $244.62, for a total value of $1,497,319.02. Following the completion of the sale, the chief executive officer now owns 86,445 shares in the company, valued at $21,146,175.90. This trade represents a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,372 shares of company stock valued at $5,175,793 in the last 90 days. 0.85% of the stock is currently owned by company insiders.

Laboratory Co. of America Stock Down 1.7 %

Shares of LH opened at $247.89 on Friday. 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 50-day simple moving average of $240.74 and a 200-day simple moving average of $232.44. Laboratory Co. of America Holdings has a 52 week low of $191.97 and a 52 week high of $258.59. The firm has a market capitalization of $20.73 billion, a P/E ratio of 28.11, a P/E/G ratio of 1.71 and a beta of 1.07.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, beating the consensus estimate 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%. On average, equities research analysts expect that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.

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 paid a dividend of $0.72 per share. The ex-dividend date is Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a yield of 1.16%. Laboratory Co. of America’s dividend payout ratio is currently 32.65%.

Analysts Set New Price Targets

Several research firms have recently issued reports on LH. Barclays decreased their price target 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. Evercore ISI upgraded Laboratory Co. of America from an “in-line” rating to an “outperform” rating and increased their price target for the company from $260.00 to $265.00 in a report on Tuesday, January 7th. Jefferies Financial Group boosted their price objective on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Morgan Stanley raised their target price on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, UBS Group cut their target price on shares of Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $265.75.

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.