Private Advisor Group LLC Has $2.12 Million Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Private Advisor Group LLC grew its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 10.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. FMR LLC raised its holdings in shares of Laboratory Co. of America by 17.0% during the third quarter. FMR LLC now owns 1,586,397 shares of the medical research company’s stock worth $354,528,000 after acquiring an additional 230,708 shares in the last quarter. JPMorgan Chase & Co. increased its position in Laboratory Co. of America by 9.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company’s stock worth $431,405,000 after purchasing an additional 167,137 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Laboratory Co. of America by 22.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 577,189 shares of the medical research company’s stock worth $128,990,000 after purchasing an additional 105,443 shares in the last quarter. River Road Asset Management LLC lifted its holdings in shares of Laboratory Co. of America by 37.8% during the 3rd quarter. River Road Asset Management LLC now owns 284,097 shares of the medical research company’s stock valued at $63,490,000 after buying an additional 77,921 shares during the last quarter. Finally, Nordea Investment Management AB grew its stake in shares of Laboratory Co. of America by 7.0% in the 4th quarter. Nordea Investment Management AB now owns 1,052,927 shares of the medical research company’s stock valued at $243,321,000 after buying an additional 68,974 shares in the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Insider Activity at Laboratory Co. of America

In related news, Director Kerrii B. Anderson sold 1,000 shares of the stock in a transaction dated 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 transaction, the director now owns 12,722 shares of the company’s stock, valued at $2,989,670. This represents a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Adam H. Schechter sold 6,121 shares of Laboratory Co. of America stock in a transaction that occurred on 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 $21,146,175.90. The trade was a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,832 shares of company stock worth $4,788,995. 0.85% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LH. Hsbc Global Res raised shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Barclays cut their price target 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. HSBC upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. Bank of America raised their target price on Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Evercore ISI raised Laboratory Co. of America from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $260.00 to $265.00 in a research report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $265.31.

Laboratory Co. of America Price Performance

Shares of Laboratory Co. of America stock opened at $253.07 on Wednesday. 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 company has a market cap of $21.17 billion, a PE ratio of 28.69, a price-to-earnings-growth ratio of 1.71 and a beta of 1.07. The firm has a fifty day moving average price of $239.81 and a two-hundred day moving average price of $232.20. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week 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, 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%. Analysts expect that Laboratory Co. of America Holdings will post 16.01 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 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio is presently 32.65%.

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.