Independent Advisor Alliance Increases Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

Independent Advisor Alliance increased its position in Laboratory Co. of America Holdings (NYSE:LH) by 25.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,544 shares of the medical research company’s stock after buying an additional 521 shares during the quarter. Independent Advisor Alliance’s holdings in Laboratory Co. of America were worth $583,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp boosted its stake 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 valued at $832,827,000 after buying an additional 25,469 shares during the last quarter. Geode Capital Management LLC boosted its stake 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 valued at $437,561,000 after buying an additional 13,298 shares during the last quarter. JPMorgan Chase & Co. boosted its stake 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 valued at $431,405,000 after buying an additional 167,137 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Laboratory Co. of America by 2.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,916,505 shares of the medical research company’s stock valued at $437,357,000 after buying an additional 51,045 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Laboratory Co. of America by 2.4% during the 4th quarter. Bank of New York Mellon Corp now owns 1,822,964 shares of the medical research company’s stock worth $418,042,000 after buying an additional 41,898 shares during the last quarter. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on LH shares. Morgan Stanley increased 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. Piper Sandler increased their target price on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Barclays reduced their target price on 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. Jefferies Financial Group increased their target price on Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Finally, Evercore ISI raised Laboratory Co. of America from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $260.00 to $265.00 in a report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $268.38.

Insider Activity at Laboratory Co. of America

In other news, CMO Amy B. Summy sold 226 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $250.40, for a total value of $56,590.40. Following the sale, the chief marketing officer now owns 4,544 shares of the company’s stock, valued at approximately $1,137,817.60. The trade was a 4.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Adam H. Schechter sold 6,121 shares of the business’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $244.62, for a total value of $1,497,319.02. Following the completion of the sale, the chief executive officer now directly owns 86,445 shares in the company, valued at $21,146,175.90. This represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,500 shares of company stock worth $3,577,572 over the last ninety days. 0.85% of the stock is currently owned by corporate insiders.

Laboratory Co. of America Trading Up 1.8 %

Shares of NYSE:LH opened at $239.80 on Monday. The company has a market cap of $20.07 billion, a PE ratio of 27.19, a P/E/G ratio of 1.71 and a beta of 1.12. The company’s 50-day moving average price is $244.69 and its 200 day moving average price is $234.06. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $258.59. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings data 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%. Sell-side analysts anticipate that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Thursday, February 27th were paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date was Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio is currently 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.