Mill Creek Capital Advisors LLC Invests $347,000 in Laboratory Co. of America Holdings (NYSE:LH)

Mill Creek Capital Advisors LLC bought a new position in shares of Laboratory Co. of America Holdings (NYSE:LH) in the fourth quarter, Holdings Channel reports. The firm bought 1,514 shares of the medical research company’s stock, valued at approximately $347,000.

Other institutional investors have also modified their holdings of the company. SouthState Corp purchased a new stake in shares of Laboratory Co. of America during the third quarter valued at approximately $28,000. Horizon Bancorp Inc. IN acquired a new stake in Laboratory Co. of America during the 3rd quarter valued at $29,000. Fortitude Family Office LLC increased its stake in Laboratory Co. of America by 312.5% during the 4th quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock worth $30,000 after buying an additional 100 shares during the period. Riverview Trust Co lifted its holdings in Laboratory Co. of America by 172.6% in the 3rd quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock worth $38,000 after buying an additional 107 shares in the last quarter. Finally, Concord Wealth Partners boosted its position in Laboratory Co. of America by 43.3% in the 3rd quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock valued at $38,000 after buying an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Stock Performance

Shares of NYSE LH opened at $245.23 on Wednesday. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $258.59. The company has a market cap of $20.51 billion, a PE ratio of 27.80, a P/E/G ratio of 1.84 and a beta of 1.07. The stock has a 50 day simple moving average of $236.76 and a 200-day simple moving average of $230.24. 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 announced its quarterly 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 research analysts forecast that Laboratory Co. of America Holdings will post 15.96 EPS for the current year.

Laboratory Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th will be given a dividend of $0.72 per share. The ex-dividend date is Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.17%. Laboratory Co. of America’s dividend payout ratio (DPR) is 32.65%.

Analysts Set New Price Targets

LH has been the topic of several analyst reports. Bank of America lifted their price objective on Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Piper Sandler lifted 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 research note on Monday. Morgan Stanley increased their price objective on shares of 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. Robert W. Baird boosted their target price on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, HSBC raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $265.31.

Insider Transactions at Laboratory Co. of America

In other news, CMO Amy B. Summy sold 3,672 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $238.91, for a total value of $877,277.52. Following the completion of the sale, the chief marketing officer now owns 4,318 shares in the company, valued at $1,031,613.38. This represents a 45.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Glenn A. Eisenberg sold 11,711 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $240.43, for a total transaction of $2,815,675.73. Following the completion of the sale, the executive vice president now directly owns 31,289 shares of the company’s stock, valued at $7,522,814.27. The trade was a 27.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 18,383 shares of company stock valued at $4,408,373. Company 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.