Wealthspire Advisors LLC Raises Stock Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Wealthspire Advisors LLC boosted its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 6.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,844 shares of the medical research company’s stock after buying an additional 233 shares during the quarter. Wealthspire Advisors LLC’s holdings in Laboratory Co. of America were worth $882,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in LH. AMF Tjanstepension AB lifted its holdings in Laboratory Co. of America by 37.0% in the 3rd quarter. AMF Tjanstepension AB now owns 86,026 shares of the medical research company’s stock worth $19,232,000 after buying an additional 23,221 shares during the period. Private Advisor Group LLC raised its holdings in shares of Laboratory Co. of America by 55.2% during the third quarter. Private Advisor Group LLC now owns 8,410 shares of the medical research company’s stock valued at $1,879,000 after acquiring an additional 2,990 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Laboratory Co. of America by 59,626.5% in the third quarter. International Assets Investment Management LLC now owns 67,491 shares of the medical research company’s stock worth $15,083,000 after acquiring an additional 67,378 shares during the period. Assenagon Asset Management S.A. bought a new stake in Laboratory Co. of America in the third quarter valued at $854,000. Finally, Ballentine Partners LLC bought a new stake in Laboratory Co. of America in the third quarter valued at $249,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Morgan Stanley upped their price objective on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Evercore ISI raised shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $260.00 to $265.00 in a research note on Tuesday, January 7th. Hsbc Global Res raised Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. 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 research report on Thursday, February 6th. Finally, Barclays lowered their target price on Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating for the company in a research note on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Laboratory Co. of America presently has a consensus rating of “Moderate Buy” and an average target price of $265.31.

Insider Buying and Selling at Laboratory Co. of America

In related news, Director Kerrii B. Anderson sold 1,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total transaction of $235,000.00. Following the transaction, the director now owns 12,722 shares in the company, valued at $2,989,670. This represents a 7.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Glenn A. Eisenberg sold 11,711 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $7,522,814.27. This represents a 27.23 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,832 shares of company stock worth $4,788,995. Insiders own 0.85% of the company’s stock.

Laboratory Co. of America Trading Up 0.7 %

NYSE LH opened at $253.07 on Wednesday. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $258.59. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67. The stock’s fifty day moving average price is $239.81 and its 200-day moving average price is $232.20. The stock has a market cap of $21.17 billion, a P/E ratio of 28.69, a P/E/G ratio of 1.71 and a beta of 1.07.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 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 forecast that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Thursday, February 27th. This represents a $2.88 annualized dividend and a yield of 1.14%. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 32.65%.

About Laboratory Co. of America

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