Apollon Wealth Management LLC Makes New Investment in Laboratory Co. of America Holdings (NYSE:LH)

Apollon Wealth Management LLC bought a new position in shares of Laboratory Co. of America Holdings (NYSE:LH) during the fourth quarter, HoldingsChannel.com reports. The firm bought 1,085 shares of the medical research company’s stock, valued at approximately $249,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. State Street Corp lifted its holdings in shares of Laboratory Co. of America by 0.7% during the 3rd quarter. State Street Corp now owns 3,726,627 shares of the medical research company’s stock worth $832,827,000 after acquiring an additional 25,469 shares during the period. Diamond Hill Capital Management Inc. lifted its holdings in shares of Laboratory Co. of America by 1.5% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,978,686 shares of the medical research company’s stock worth $442,197,000 after acquiring an additional 29,046 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Laboratory Co. of America by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,964,743 shares of the medical research company’s stock worth $437,561,000 after acquiring an additional 13,298 shares during the period. JPMorgan Chase & Co. lifted 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 acquiring an additional 167,137 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Laboratory Co. of America by 16.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,865,460 shares of the medical research company’s stock worth $416,893,000 after acquiring an additional 263,105 shares during the period. Institutional investors and hedge funds own 95.94% of the company’s stock.

Laboratory Co. of America Price Performance

LH stock opened at $246.74 on Friday. The company has a fifty day moving average price of $237.13 and a 200-day moving average price of $230.66. The company has a market capitalization of $20.64 billion, a P/E ratio of 27.98, a PEG ratio of 1.84 and a beta of 1.07. 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 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 released its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) for the quarter, beating 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, equities analysts expect that Laboratory Co. of America Holdings will post 15.96 EPS for the current year.

Laboratory Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 32.65%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on LH shares. Robert W. Baird upped their price target on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. HSBC raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Hsbc Global Res raised shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Evercore ISI raised shares of 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 research note on Tuesday, January 7th. Finally, UBS Group dropped their price objective on shares of Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Laboratory Co. of America currently has an average rating of “Moderate Buy” and a consensus price target of $265.31.

Insider Transactions at Laboratory Co. of America

In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 1,000 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $239.42, for a total value of $239,420.00. Following the completion of the sale, the executive vice president now directly owns 2,670 shares in the company, valued at approximately $639,251.40. This trade represents a 27.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Glenn A. Eisenberg sold 11,711 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $240.43, for a total transaction of $2,815,675.73. Following the completion of the sale, the executive vice president now owns 31,289 shares of the company’s stock, 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. Insiders sold a total of 24,504 shares of company stock worth $5,905,692 over the last three months. 0.85% of the stock is owned by company insiders.

Laboratory Co. of America Company Profile

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