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

Stonegate Investment Group LLC grew its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 2.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,570 shares of the medical research company’s stock after acquiring an additional 62 shares during the quarter. Stonegate Investment Group LLC’s holdings in Laboratory Co. of America were worth $589,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Foundations Investment Advisors LLC lifted its position in Laboratory Co. of America by 4.9% during the 4th quarter. Foundations Investment Advisors LLC now owns 1,131 shares of the medical research company’s stock worth $259,000 after acquiring an additional 53 shares during the period. Cornell Pochily Investment Advisors Inc. raised its stake in shares of Laboratory Co. of America by 2.5% in the fourth quarter. Cornell Pochily Investment Advisors Inc. now owns 2,935 shares of the medical research company’s stock worth $673,000 after purchasing an additional 72 shares during the last quarter. Hunter Perkins Capital Management LLC lifted its holdings in shares of Laboratory Co. of America by 1.0% during the fourth quarter. Hunter Perkins Capital Management LLC now owns 118,990 shares of the medical research company’s stock worth $27,287,000 after purchasing an additional 1,215 shares during the period. KBC Group NV increased its holdings in Laboratory Co. of America by 7.6% in the 4th quarter. KBC Group NV now owns 101,967 shares of the medical research company’s stock worth $23,383,000 after buying an additional 7,159 shares during the period. Finally, Blue Trust Inc. increased its holdings in Laboratory Co. of America by 27.6% in the 4th quarter. Blue Trust Inc. now owns 1,150 shares of the medical research company’s stock worth $257,000 after buying an additional 249 shares during the period. 95.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Laboratory Co. of America

In related news, EVP Der Vaart Sandra D. Van sold 1,000 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $239.42, for a total value of $239,420.00. Following the completion of the sale, the executive vice president now owns 2,670 shares of the company’s stock, valued at approximately $639,251.40. This trade represents a 27.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adam H. Schechter sold 6,189 shares of Laboratory Co. of America stock in a transaction that occurred 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 in the company, valued at approximately $21,289,260.27. The trade was a 6.61 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,572 shares of company stock worth $5,915,209. Corporate insiders own 0.85% of the company’s stock.

Analyst Upgrades and Downgrades

LH has been the topic of several recent research reports. Evercore ISI raised shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $260.00 to $265.00 in a report on Tuesday, January 7th. Morgan Stanley increased 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. Piper Sandler boosted their price objective on Laboratory Co. of America from $235.00 to $240.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Jefferies Financial Group reaffirmed a “buy” rating and set a $275.00 target price (up from $265.00) on shares of Laboratory Co. of America in a report on Tuesday, December 10th. Finally, Barclays boosted their price target on Laboratory Co. of America from $234.00 to $249.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $261.77.

Laboratory Co. of America Price Performance

NYSE:LH opened at $248.44 on Wednesday. The firm has a market cap of $20.78 billion, a P/E ratio of 48.05, a price-to-earnings-growth ratio of 1.81 and a beta of 1.06. The stock has a 50 day moving average of $235.19 and a two-hundred day 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.

Laboratory Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.16%. The ex-dividend date is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio is currently 55.71%.

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.