Vise Technologies Inc. Purchases New Shares in Laboratory Co. of America Holdings (NYSE:LH)

Vise Technologies Inc. purchased a new stake in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,269 shares of the medical research company's stock, valued at approximately $291,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Barclays PLC lifted its position in shares of Laboratory Co. of America by 11.8% in the third quarter. Barclays PLC now owns 620,721 shares of the medical research company's stock worth $138,718,000 after buying an additional 65,356 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Laboratory Co. of America by 9.5% in the third quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company's stock worth $431,405,000 after buying an additional 167,137 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Laboratory Co. of America by 5.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 33,219 shares of the medical research company's stock worth $7,618,000 after buying an additional 1,723 shares during the last quarter. Brighton Jones LLC acquired a new stake in shares of Laboratory Co. of America in the fourth quarter worth about $991,000. Finally, Geneos Wealth Management Inc. lifted its position in shares of Laboratory Co. of America by 309.8% in the fourth quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company's stock worth $39,000 after buying an additional 127 shares during the last quarter. Hedge funds and other institutional investors own 95.94% of the company's stock.

Laboratory Co. of America Trading Up 0.8%

Shares of NYSE:LH traded up $1.87 during midday trading on Friday, hitting $248.62. The company had a trading volume of 1,185,977 shares, compared to its average volume of 636,380. Laboratory Co. of America Holdings has a 12 month low of $192.38 and a 12 month high of $258.59. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67. The stock has a market cap of $20.81 billion, a price-to-earnings ratio of 28.19, a PEG ratio of 1.71 and a beta of 0.82. The firm has a fifty day simple moving average of $235.32 and a 200 day simple moving average of $238.31.

Laboratory Co. of America (NYSE:LH - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The medical research company reported $3.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.73 by $0.11. The business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.41 billion. Laboratory Co. of America had a return on equity of 15.29% and a net margin of 5.73%. The firm's revenue was up 5.3% on a year-over-year basis. During the same period last year, the company earned $3.68 EPS. On average, analysts predict that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Thursday, May 29th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.16%. Laboratory Co. of America's payout ratio is presently 33.29%.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, CAO Peter J. Wilkinson sold 829 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $242.26, for a total transaction of $200,833.54. Following the transaction, the chief accounting officer now owns 2,054 shares of the company's stock, valued at $497,602.04. The trade was a 28.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Adam H. Schechter sold 6,105 shares of Laboratory Co. of America stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $248.73, for a total value of $1,518,496.65. Following the transaction, the chief executive officer now owns 98,962 shares of the company's stock, valued at $24,614,818.26. This represents a 5.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,092 shares of company stock valued at $2,475,635 in the last 90 days. 0.84% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently weighed in on LH. Wall Street Zen cut Laboratory Co. of America from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. Redburn Atlantic began coverage on Laboratory Co. of America in a report on Wednesday, April 2nd. They issued a "buy" rating and a $276.00 target price for the company. Piper Sandler restated a "neutral" rating and set a $280.00 price target (up from $260.00) on shares of Laboratory Co. of America in a research report on Tuesday, May 6th. Jefferies Financial Group increased their price target on Laboratory Co. of America from $275.00 to $290.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Finally, Truist Financial increased their price target on Laboratory Co. of America from $274.00 to $290.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $272.92.

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.