Laboratory Co. of America Holdings (NYSE:LH) Shares Bought by Stonegate Investment Group LLC

Stonegate Investment Group LLC lifted its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 2.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,570 shares of the medical research company’s stock after buying an additional 62 shares during the period. Stonegate Investment Group LLC’s holdings in Laboratory Co. of America were worth $589,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. SouthState Corp acquired a new stake in Laboratory Co. of America in the 3rd quarter valued at approximately $28,000. Horizon Bancorp Inc. IN acquired a new stake in shares of Laboratory Co. of America in the third quarter valued at $29,000. Fortitude Family Office LLC raised its holdings in shares of 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 period. Geneos Wealth Management Inc. lifted its stake in Laboratory Co. of America by 309.8% during the 4th quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock worth $39,000 after acquiring an additional 127 shares in the last quarter. Finally, Riverview Trust Co boosted its holdings in Laboratory Co. of America by 172.6% during the 3rd quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock valued at $38,000 after acquiring an additional 107 shares during the period. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. HSBC upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Morgan Stanley increased their target price 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. Robert W. Baird boosted their price target on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Jefferies Financial Group reiterated a “buy” rating and issued a $275.00 price objective (up from $265.00) on shares of Laboratory Co. of America in a research note on Tuesday, December 10th. Finally, UBS Group lowered their target price on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating for the company in a research note on Tuesday. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $261.77.

Laboratory Co. of America Trading Down 0.5 %

Shares of Laboratory Co. of America stock opened at $248.44 on Wednesday. The company has a fifty day simple moving average of $235.19 and a 200-day simple moving average of $227.66. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $250.56. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66. The stock has a market cap of $20.78 billion, a price-to-earnings ratio of 48.05, a PEG ratio of 1.81 and a beta of 1.06.

Laboratory Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio (DPR) is currently 55.71%.

Insider Activity

In other Laboratory Co. of America news, CMO Amy B. Summy sold 3,672 shares of Laboratory Co. of America stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $238.91, for a total value of $877,277.52. Following the transaction, the chief marketing officer now directly owns 4,318 shares in the company, valued at approximately $1,031,613.38. The trade was a 45.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kerrii B. Anderson sold 1,000 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $235.00, for a total transaction of $235,000.00. Following the sale, the director now owns 12,722 shares of the company’s stock, valued at $2,989,670. This trade represents a 7.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 24,572 shares of company stock valued at $5,915,209. Insiders own 0.85% of the company’s stock.

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.