Laboratory Co. of America Holdings (NYSE:LH) Shares Acquired by Allworth Financial LP

Allworth Financial LP lifted its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 43.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 631 shares of the medical research company’s stock after purchasing an additional 190 shares during the period. Allworth Financial LP’s holdings in Laboratory Co. of America were worth $153,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. SouthState Corp purchased a new stake in shares of Laboratory Co. of America in the 3rd quarter worth about $28,000. Fortitude Family Office LLC boosted its position 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 worth $30,000 after buying an additional 100 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Laboratory Co. of America by 309.8% in the 4th quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock worth $39,000 after buying an additional 127 shares in the last quarter. Concord Wealth Partners boosted its position in shares of Laboratory Co. of America by 43.3% in the 3rd quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock worth $38,000 after buying an additional 52 shares in the last quarter. Finally, Kennebec Savings Bank purchased a new stake in shares of Laboratory Co. of America in the 3rd quarter worth about $42,000. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Adam H. Schechter sold 6,121 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $244.62, for a total transaction of $1,497,319.02. Following the completion of the transaction, the chief executive officer now directly owns 86,445 shares of the company’s stock, valued at approximately $21,146,175.90. This represents a 6.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Dwight Gary Gilliland sold 1,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $241.00, for a total value of $241,000.00. Following the transaction, the director now directly owns 7,712 shares of the company’s stock, valued at $1,858,592. This trade represents a 11.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,832 shares of company stock worth $4,788,995 over the last ninety days. 0.85% of the stock is currently owned by corporate insiders.

Laboratory Co. of America Price Performance

Shares of LH stock opened at $249.86 on Monday. The stock’s fifty day simple moving average is $238.93 and its 200 day simple moving average is $231.82. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30. The firm has a market cap of $20.90 billion, a price-to-earnings ratio of 28.33, a P/E/G ratio of 1.71 and a beta of 1.07. 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 released its earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share 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%. On average, analysts expect that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

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 issued a $0.72 dividend. The ex-dividend date is Thursday, February 27th. This represents a $2.88 annualized dividend and a dividend yield of 1.15%. Laboratory Co. of America’s dividend payout ratio (DPR) is currently 32.65%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. HSBC upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. Barclays reduced their target price on shares of Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating on the stock in a report on Friday, February 7th. StockNews.com upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Jefferies Financial Group upped 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 report on Thursday, February 6th. Finally, Bank of America upped their target price on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a report on Friday, December 13th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Laboratory Co. of America has a consensus rating of “Moderate Buy” and an average target price of $265.31.

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.