Pitcairn Co. Takes Position in Laboratory Co. of America Holdings (NYSE:LH)

Pitcairn Co. bought a new stake in Laboratory Co. of America Holdings (NYSE:LH) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,138 shares of the medical research company’s stock, valued at approximately $261,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Graney & King LLC bought a new position in shares of Laboratory Co. of America in the fourth quarter valued at about $26,000. Fortitude Family Office LLC grew its stake in Laboratory Co. of America by 312.5% in the 4th quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock valued at $30,000 after buying an additional 100 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in Laboratory Co. of America by 309.8% in the 4th quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock valued at $39,000 after acquiring an additional 127 shares during the period. Human Investing LLC acquired a new stake in Laboratory Co. of America during the fourth quarter worth approximately $39,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of Laboratory Co. of America during the fourth quarter worth approximately $44,000. 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, Director Kerrii B. Anderson sold 1,000 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $235.00, for a total value of $235,000.00. Following the sale, the director now owns 12,722 shares in the company, valued at approximately $2,989,670. The trade was a 7.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Adam H. Schechter sold 6,121 shares of the firm’s stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,258 shares of company stock worth $3,753,177. 0.85% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

LH has been the topic of a number of recent research reports. 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 note on Thursday, February 6th. UBS Group dropped their target price on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. StockNews.com upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Sunday. Piper Sandler increased their price target on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Finally, Citigroup upgraded shares of Laboratory Co. of America from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $250.00 to $300.00 in a research note on Tuesday, March 4th. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $270.38.

Laboratory Co. of America Stock Performance

NYSE LH opened at $222.49 on Monday. The firm’s fifty day moving average price is $243.63 and its two-hundred day moving average price is $234.95. The stock has a market cap of $18.62 billion, a PE ratio of 25.23, a PEG ratio of 1.71 and a beta of 1.12. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44. 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 earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share (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%. On average, equities analysts expect 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 announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th were issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend was Thursday, February 27th. Laboratory Co. of America’s payout ratio is 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.