Marietta Wealth Management LLC Grows Stock Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Marietta Wealth Management LLC grew its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 3.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,251 shares of the medical research company’s stock after purchasing an additional 638 shares during the quarter. Marietta Wealth Management LLC’s holdings in Laboratory Co. of America were worth $4,873,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Creative Planning increased its position in Laboratory Co. of America by 14.7% during the second quarter. Creative Planning now owns 12,854 shares of the medical research company’s stock worth $2,616,000 after purchasing an additional 1,646 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Laboratory Co. of America by 19.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,657 shares of the medical research company’s stock worth $1,152,000 after purchasing an additional 913 shares during the period. B. Riley Wealth Advisors Inc. increased its position in Laboratory Co. of America by 2.4% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 3,516 shares of the medical research company’s stock worth $715,000 after purchasing an additional 83 shares in the last quarter. EP Wealth Advisors LLC raised its holdings in Laboratory Co. of America by 27.0% in the second quarter. EP Wealth Advisors LLC now owns 1,226 shares of the medical research company’s stock valued at $250,000 after buying an additional 261 shares during the period. Finally, Sanctuary Advisors LLC acquired a new position in Laboratory Co. of America during the second quarter valued at approximately $2,268,000. Institutional investors and hedge funds own 95.94% of the company’s stock.

Laboratory Co. of America Price Performance

LH opened at $249.39 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.44. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $258.59. The company has a 50-day moving average of $236.02 and a 200-day moving average of $228.54. The company has a market capitalization of $20.86 billion, a P/E ratio of 48.24, a PEG ratio of 1.83 and a beta of 1.06.

Laboratory Co. of America Announces Dividend

The company 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 dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.15%. The ex-dividend date is Thursday, February 27th. Laboratory Co. of America’s payout ratio is currently 55.71%.

Insiders Place Their Bets

In related news, Director Dwight Gary Gilliland sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $241.00, for a total transaction of $241,000.00. Following the completion of the transaction, the director now owns 7,712 shares in the company, valued at $1,858,592. The trade was a 11.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Adam H. Schechter sold 6,189 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $243.47, for a total value of $1,506,835.83. Following the transaction, the chief executive officer now owns 87,441 shares of the company’s stock, valued at approximately $21,289,260.27. The trade was a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,572 shares of company stock valued at $5,915,209 in the last quarter. Insiders own 0.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on LH. HSBC raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Evercore ISI raised Laboratory Co. of America from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $260.00 to $265.00 in a research report on Tuesday, January 7th. Barclays upped their target price on Laboratory Co. of America from $234.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. UBS Group reduced their price target on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Hsbc Global Res raised shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Laboratory Co. of America has a consensus rating of “Moderate Buy” and a consensus target price of $261.77.

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.