Jag Capital Management LLC Buys 221 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Jag Capital Management LLC lifted its stake in Laboratory Co. of America Holdings (NYSE:LH) by 1.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,015 shares of the medical research company’s stock after buying an additional 221 shares during the period. Jag Capital Management LLC’s holdings in Laboratory Co. of America were worth $3,214,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in LH. SouthState Corp bought a new stake in shares of Laboratory Co. of America in the third quarter valued at about $28,000. Fortitude Family Office LLC lifted its stake in Laboratory Co. of America by 312.5% during the fourth quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock worth $30,000 after purchasing an additional 100 shares during the period. Geneos Wealth Management Inc. lifted its stake in Laboratory Co. of America by 309.8% during the fourth quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock worth $39,000 after purchasing an additional 127 shares during the period. Human Investing LLC bought a new position in Laboratory Co. of America during the fourth quarter worth about $39,000. Finally, Kennebec Savings Bank bought a new position in Laboratory Co. of America during the third quarter worth about $42,000. Institutional investors own 95.94% of the company’s stock.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,121 shares of the firm’s 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 transaction, the chief executive officer now directly owns 86,445 shares of the company’s stock, valued at approximately $21,146,175.90. This trade represents a 6.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Der Vaart Sandra D. Van sold 1,314 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $251.30, for a total transaction of $330,208.20. Following the completion of the transaction, the executive vice president now directly owns 2,171 shares in the company, valued at approximately $545,572.30. The trade was a 37.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,661 shares of company stock valued at $2,119,118. 0.85% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have commented on LH. UBS Group cut their price target 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. Barclays cut their price target on shares of 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. StockNews.com upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Piper Sandler raised their price target on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Finally, Jefferies Financial Group raised their price objective on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Laboratory Co. of America has a consensus rating of “Moderate Buy” and an average target price of $265.75.

Laboratory Co. of America Stock Performance

Shares of Laboratory Co. of America stock opened at $254.01 on Tuesday. 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 firm has a market cap of $21.26 billion, a P/E ratio of 28.80, a P/E/G ratio of 1.71 and a beta of 1.07. The firm has a 50 day simple moving average of $241.72 and a 200 day simple moving average of $232.98. 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 issued its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share for the quarter, beating analysts’ consensus estimates 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 predict that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a yield of 1.13%. Laboratory Co. of America’s payout ratio is presently 32.65%.

Laboratory Co. of America Profile

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