Private Advisor Group LLC Increases Position in Laboratory Co. of America Holdings (NYSE:LH)

Private Advisor Group LLC boosted its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 10.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,255 shares of the medical research company’s stock after purchasing an additional 845 shares during the period. Private Advisor Group LLC’s holdings in Laboratory Co. of America were worth $2,122,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of LH. Private Trust Co. NA raised its stake in shares of Laboratory Co. of America by 3.2% in the 3rd quarter. Private Trust Co. NA now owns 1,342 shares of the medical research company’s stock valued at $300,000 after purchasing an additional 41 shares in the last quarter. Empowered Funds LLC raised its stake in Laboratory Co. of America by 0.5% during the fourth quarter. Empowered Funds LLC now owns 8,025 shares of the medical research company’s stock valued at $1,840,000 after buying an additional 43 shares in the last quarter. Empirical Finance LLC lifted its holdings in Laboratory Co. of America by 1.7% during the 3rd quarter. Empirical Finance LLC now owns 3,055 shares of the medical research company’s stock worth $683,000 after buying an additional 50 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in Laboratory Co. of America by 16.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 354 shares of the medical research company’s stock worth $81,000 after buying an additional 50 shares during the last quarter. Finally, Concord Wealth Partners grew 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 acquiring an additional 52 shares in the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on LH. Hsbc Global Res upgraded Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Jefferies Financial Group raised their price target on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Barclays lowered their price objective on shares of Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating for the company in a research report on Friday, February 7th. Bank of America raised their target price on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, UBS Group lowered their target price on 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. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Laboratory Co. of America has a consensus rating of “Moderate Buy” and a consensus target price of $265.31.

Insiders Place Their Bets

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,121 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Glenn A. Eisenberg sold 11,711 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $240.43, for a total transaction of $2,815,675.73. Following the transaction, the executive vice president now owns 31,289 shares of the company’s stock, 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. Insiders sold 19,832 shares of company stock worth $4,788,995 over the last ninety days. Company insiders own 0.85% of the company’s stock.

Laboratory Co. of America Trading Up 0.7 %

NYSE:LH 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 PEG 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. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $258.59. The business has a fifty day moving average of $239.81 and a 200-day moving average of $232.20.

Laboratory Co. of America (NYSE:LH) last announced its earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. Equities analysts predict that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The company also recently announced 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 of this dividend 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 Profile

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.