Fortitude Family Office LLC Purchases 100 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Fortitude Family Office LLC increased its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 312.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 132 shares of the medical research company’s stock after purchasing an additional 100 shares during the period. Fortitude Family Office LLC’s holdings in Laboratory Co. of America were worth $30,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Diamond Hill Capital Management Inc. boosted its stake in shares of Laboratory Co. of America by 25.4% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,949,640 shares of the medical research company’s stock worth $396,771,000 after acquiring an additional 395,197 shares during the period. Select Equity Group L.P. bought a new position in Laboratory Co. of America during the second quarter worth $73,928,000. Allspring Global Investments Holdings LLC raised its position in shares of Laboratory Co. of America by 16.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,865,460 shares of the medical research company’s stock valued at $416,893,000 after purchasing an additional 263,105 shares during the period. FMR LLC raised its position in shares of Laboratory Co. of America by 17.0% in the third quarter. FMR LLC now owns 1,586,397 shares of the medical research company’s stock valued at $354,528,000 after purchasing an additional 230,708 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Laboratory Co. of America by 9.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company’s stock worth $431,405,000 after buying an additional 167,137 shares during the period. Institutional investors and hedge funds own 95.94% of the company’s stock.

Laboratory Co. of America Trading Down 0.9 %

Shares of Laboratory Co. of America stock opened at $232.12 on Friday. The firm has a market capitalization of $19.41 billion, a PE ratio of 44.90, a price-to-earnings-growth ratio of 1.91 and a beta of 1.06. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66. The firm’s 50 day moving average is $234.59 and its 200 day moving average is $224.49. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $247.99.

Laboratory Co. of America (NYSE:LH) last posted its earnings results on Thursday, October 24th. The medical research company reported $3.50 EPS for the quarter, beating the consensus estimate of $3.48 by $0.02. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same period last year, the company earned $3.38 earnings per share. The business’s quarterly revenue was up 7.4% on a year-over-year basis. Equities research analysts forecast that Laboratory Co. of America Holdings will post 14.52 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.24%. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 55.71%.

Insider Buying and Selling

In other Laboratory Co. of America news, CMO Amy B. Summy sold 3,672 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $238.91, for a total transaction of $877,277.52. Following the completion of the sale, the chief marketing officer now directly owns 4,318 shares in the company, valued at approximately $1,031,613.38. This trade represents a 45.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kerrii B. Anderson sold 1,000 shares of Laboratory Co. of America stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $230.00, for a total value of $230,000.00. Following the completion of the sale, the director now owns 13,722 shares of the company’s stock, valued at approximately $3,156,060. The trade was a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,572 shares of company stock valued at $6,145,209 over the last 90 days. 0.85% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Barclays raised their price objective on shares of Laboratory Co. of America from $234.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. StockNews.com cut Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Piper Sandler upped their price objective on Laboratory Co. of America from $235.00 to $240.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Morgan Stanley lifted their target price on Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, Bank of America upped their price target on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $260.54.

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.