Heron Bay Capital Management Has $5.72 Million Stock Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Heron Bay Capital Management trimmed its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 4.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,928 shares of the medical research company’s stock after selling 1,059 shares during the quarter. Laboratory Co. of America accounts for 1.2% of Heron Bay Capital Management’s portfolio, making the stock its 28th largest position. Heron Bay Capital Management’s holdings in Laboratory Co. of America were worth $5,716,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mutual of America Capital Management LLC bought a new stake in Laboratory Co. of America during the 3rd quarter worth approximately $2,316,000. Pathstone Holdings LLC grew its holdings in shares of Laboratory Co. of America by 124.5% during the third quarter. Pathstone Holdings LLC now owns 10,165 shares of the medical research company’s stock worth $2,272,000 after buying an additional 5,637 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Laboratory Co. of America in the 3rd quarter valued at approximately $835,000. PNC Financial Services Group Inc. lifted its stake in Laboratory Co. of America by 9.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 38,915 shares of the medical research company’s stock valued at $8,697,000 after acquiring an additional 3,433 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Laboratory Co. of America during the 3rd quarter worth approximately $2,991,000. Institutional investors and hedge funds own 95.94% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on LH. 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 report on Tuesday, December 17th. Bank of America upped their target price on Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Piper Sandler raised their price target on Laboratory Co. of America from $240.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Citigroup raised Laboratory Co. of America from a “neutral” rating to a “buy” rating and increased their price objective for the company from $250.00 to $300.00 in a report on Tuesday, March 4th. Finally, StockNews.com upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Three 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $268.38.

Laboratory Co. of America Trading Down 0.8 %

LH stock opened at $233.97 on Friday. Laboratory Co. of America Holdings has a 52 week low of $191.97 and a 52 week high of $258.59. The company has a market capitalization of $19.58 billion, a PE ratio of 26.53, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12. The company’s 50-day simple moving average is $245.16 and its 200 day simple moving average is $234.31. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44.

Laboratory Co. of America (NYSE:LH) last announced its earnings results on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, topping the consensus estimate of $3.40 by $0.05. Laboratory Co. of America had a net margin of 5.73% and a return on equity of 15.29%. As a group, sell-side analysts anticipate that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th were given a dividend of $0.72 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.23%. Laboratory Co. of America’s payout ratio is 32.65%.

Insider Transactions at Laboratory Co. of America

In other news, Director Kerrii B. Anderson sold 500 shares of Laboratory Co. of America stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $255.63, for a total value of $127,815.00. Following the transaction, the director now owns 13,166 shares in the company, valued at approximately $3,365,624.58. This trade represents a 3.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Adam H. Schechter sold 6,121 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $244.62, for a total transaction 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 approximately $21,146,175.90. The trade was a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,500 shares of company stock valued at $3,577,572. 0.85% of the stock is owned by corporate insiders.

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.