Laboratory Co. of America Holdings (NYSE:LH) Position Lessened by Heron Bay Capital Management

Heron Bay Capital Management lessened its position in Laboratory Co. of America Holdings (NYSE:LH) by 4.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,928 shares of the medical research company’s stock after selling 1,059 shares during the period. Laboratory Co. of America makes up 1.2% of Heron Bay Capital Management’s portfolio, making the stock its 28th biggest position. Heron Bay Capital Management’s holdings in Laboratory Co. of America were worth $5,716,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in LH. Capital City Trust Co. FL increased its stake in Laboratory Co. of America by 1.5% during the 4th quarter. Capital City Trust Co. FL now owns 15,553 shares of the medical research company’s stock valued at $3,567,000 after buying an additional 223 shares during the period. Wealthcare Advisory Partners LLC lifted its position in Laboratory Co. of America by 23.9% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 2,543 shares of the medical research company’s stock worth $583,000 after purchasing an additional 490 shares during the period. Mutual of America Capital Management LLC acquired a new position in shares of Laboratory Co. of America during the 3rd quarter valued at $2,316,000. Bryn Mawr Capital Management LLC raised its position in Laboratory Co. of America by 51.2% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 1,495 shares of the medical research company’s stock worth $343,000 after acquiring an additional 506 shares in the last quarter. Finally, Barclays PLC lifted its stake in Laboratory Co. of America by 11.8% in the 3rd quarter. Barclays PLC now owns 620,721 shares of the medical research company’s stock worth $138,718,000 after acquiring an additional 65,356 shares in the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Laboratory Co. of America Price Performance

Shares of Laboratory Co. of America stock opened at $233.97 on Friday. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $258.59. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44. The firm has a market cap of $19.58 billion, a P/E ratio of 26.53, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12. The firm’s 50-day simple moving average is $245.16 and its 200-day simple moving average is $234.31.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. As a group, research analysts expect that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Thursday, February 27th were given a dividend of $0.72 per share. The ex-dividend date was Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a yield of 1.23%. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 32.65%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LH. 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 report on Monday, February 10th. Citigroup raised Laboratory Co. of America from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $250.00 to $300.00 in a research report on Tuesday, March 4th. StockNews.com upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Morgan Stanley boosted their price target on Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, Bank of America upped their price objective on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Three equities research 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 company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $268.38.

Insider Activity at Laboratory Co. of America

In related news, COO Mark S. Schroeder sold 5,339 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $249.23, for a total value of $1,330,638.97. Following the completion of the transaction, the chief operating officer now owns 4,960 shares in the company, valued at $1,236,180.80. The trade was a 51.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Der Vaart Sandra D. Van sold 1,314 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $251.30, for a total value of $330,208.20. Following the completion of the transaction, the executive vice president now owns 2,171 shares in the company, valued at approximately $545,572.30. This represents a 37.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,500 shares of company stock valued at $3,577,572 in the last three months. Corporate insiders own 0.85% of the company’s stock.

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.