Laboratory Co. of America Holdings (NYSE:LH) Shares Purchased by Farther Finance Advisors LLC

Farther Finance Advisors LLC increased its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 122.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,077 shares of the medical research company’s stock after buying an additional 1,692 shares during the period. Farther Finance Advisors LLC’s holdings in Laboratory Co. of America were worth $706,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LH. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Laboratory Co. of America by 1.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 188,543 shares of the medical research company’s stock valued at $42,136,000 after purchasing an additional 2,339 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Laboratory Co. of America by 3.8% in the third quarter. Oppenheimer Asset Management Inc. now owns 12,735 shares of the medical research company’s stock valued at $2,846,000 after buying an additional 470 shares in the last quarter. Curi RMB Capital LLC acquired a new position in shares of Laboratory Co. of America during the 3rd quarter worth approximately $367,000. Metis Global Partners LLC lifted its position in shares of Laboratory Co. of America by 1.7% during the 3rd quarter. Metis Global Partners LLC now owns 4,432 shares of the medical research company’s stock valued at $990,000 after buying an additional 72 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. grew its stake in Laboratory Co. of America by 8.2% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,307 shares of the medical research company’s stock valued at $516,000 after acquiring an additional 175 shares during the period. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. StockNews.com raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Piper Sandler lifted their price objective 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. Citigroup raised Laboratory Co. of America from a “neutral” rating to a “buy” rating and increased their target price for the company from $250.00 to $300.00 in a report on Tuesday, March 4th. Jefferies Financial Group lifted their price target on Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Finally, Morgan Stanley increased their price objective on Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $268.38.

Laboratory Co. of America Stock Up 1.8 %

Shares of NYSE:LH opened at $239.80 on Friday. The company has a market capitalization of $20.07 billion, a price-to-earnings ratio of 27.19, a PEG ratio of 1.71 and a beta of 1.12. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $258.59. The business has a 50-day moving average price of $244.69 and a 200 day moving average price of $234.04. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, topping analysts’ consensus estimates of $3.40 by $0.05. Laboratory Co. of America had a return on equity of 15.29% and a net margin of 5.73%. Sell-side analysts expect that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th were given a $0.72 dividend. The ex-dividend date was Thursday, February 27th. This represents a $2.88 annualized dividend and a yield of 1.20%. Laboratory Co. of America’s dividend payout ratio is presently 32.65%.

Insiders Place Their Bets

In related news, Director Kerrii B. Anderson sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $255.63, for a total value of $127,815.00. Following the sale, the director now owns 13,166 shares of the company’s stock, valued at $3,365,624.58. This trade represents a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adam H. Schechter sold 6,121 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $244.62, for a total transaction of $1,497,319.02. Following the transaction, the chief executive officer now owns 86,445 shares of the company’s stock, valued at $21,146,175.90. This trade represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,500 shares of company stock worth $3,577,572 over the last 90 days. Corporate insiders own 0.85% of the company’s stock.

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.