Ritholtz Wealth Management Acquires New Position in Laboratory Co. of America Holdings (NYSE:LH)

Ritholtz Wealth Management bought a new position in shares of Laboratory Co. of America Holdings (NYSE:LHFree Report) in the 4th quarter, Holdings Channel reports. The institutional investor bought 1,225 shares of the medical research company’s stock, valued at approximately $281,000.

Other large investors have also recently modified their holdings of the company. Pinnacle Bancorp Inc. acquired a new position in Laboratory Co. of America in the 4th quarter worth about $256,000. Park Avenue Securities LLC grew its holdings in shares of Laboratory Co. of America by 22.7% during the fourth quarter. Park Avenue Securities LLC now owns 6,525 shares of the medical research company’s stock worth $1,496,000 after purchasing an additional 1,205 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Laboratory Co. of America by 3.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,943 shares of the medical research company’s stock valued at $904,000 after buying an additional 122 shares during the period. Grandview Asset Management LLC bought a new position in Laboratory Co. of America in the 4th quarter valued at approximately $427,000. Finally, Cooper Financial Group boosted its position in Laboratory Co. of America by 1.9% during the 4th quarter. Cooper Financial Group now owns 4,647 shares of the medical research company’s stock worth $1,066,000 after buying an additional 86 shares during the period. Institutional investors and hedge funds own 95.94% of the company’s stock.

Laboratory Co. of America Trading Down 0.6 %

Shares of Laboratory Co. of America stock opened at $242.47 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.44. Laboratory Co. of America Holdings has a 52 week low of $191.97 and a 52 week high of $247.99. The stock has a 50 day moving average price of $234.69 and a two-hundred day moving average price of $226.44. The stock has a market capitalization of $20.28 billion, a PE ratio of 46.90, a price-to-earnings-growth ratio of 1.78 and a beta of 1.06.

Laboratory Co. of America (NYSE:LHGet Free Report) last released its quarterly earnings data on Thursday, October 24th. The medical research company reported $3.50 earnings per share for the quarter, topping the consensus estimate of $3.48 by $0.02. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.26 billion. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. The business’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.38 earnings per share. As a group, equities analysts anticipate that Laboratory Co. of America Holdings will post 14.51 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. Investors of record on Thursday, February 27th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.19%. Laboratory Co. of America’s payout ratio is 55.71%.

Insider Buying and Selling at Laboratory Co. of America

In other news, Director Kerrii B. Anderson sold 1,000 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total value of $235,000.00. Following the completion of the sale, the director now owns 12,722 shares in the company, valued at $2,989,670. This represents a 7.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 directly owns 31,289 shares in the company, valued at $7,522,814.27. The trade was a 27.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,572 shares of company stock worth $5,915,209. Insiders own 0.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Evercore ISI upgraded Laboratory Co. of America from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $260.00 to $265.00 in a report on Tuesday, January 7th. Hsbc Global Res raised Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. HSBC raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Bank of America increased 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 research report on Friday, December 13th. Finally, Barclays boosted their price target 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. 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 MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $260.54.

View Our Latest Stock Analysis on Laboratory Co. of America

Laboratory Co. of America Profile

(Free Report)

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

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Institutional Ownership by Quarter for Laboratory Co. of America (NYSE:LH)

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