Accurate Wealth Management LLC acquired a new stake in Laboratory Co. of America Holdings (NYSE:LH - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,027 shares of the medical research company's stock, valued at approximately $227,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC increased its stake in Laboratory Co. of America by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 2,003,998 shares of the medical research company's stock valued at $458,334,000 after purchasing an additional 39,255 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Laboratory Co. of America by 2.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,916,505 shares of the medical research company's stock worth $437,357,000 after buying an additional 51,045 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Laboratory Co. of America by 2.4% during the fourth quarter. Bank of New York Mellon Corp now owns 1,822,964 shares of the medical research company's stock valued at $418,042,000 after acquiring an additional 41,898 shares in the last quarter. FMR LLC increased its holdings in Laboratory Co. of America by 2.2% in the 4th quarter. FMR LLC now owns 1,620,826 shares of the medical research company's stock valued at $371,688,000 after acquiring an additional 34,429 shares during the last quarter. Finally, Select Equity Group L.P. boosted its holdings in shares of Laboratory Co. of America by 150.9% during the 4th quarter. Select Equity Group L.P. now owns 1,595,957 shares of the medical research company's stock valued at $365,985,000 after purchasing an additional 959,981 shares during the last quarter. 95.94% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on LH shares. Piper Sandler reissued a "neutral" rating and set a $280.00 price target (up from $260.00) on shares of Laboratory Co. of America in a research note on Tuesday, May 6th. Citigroup raised shares of Laboratory Co. of America from a "neutral" rating to a "buy" rating and raised their target price for the company from $250.00 to $300.00 in a report on Tuesday, March 4th. Barclays increased their price objective on shares of Laboratory Co. of America from $240.00 to $250.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 30th. Redburn Atlantic initiated coverage on shares of Laboratory Co. of America in a report on Wednesday, April 2nd. They issued a "buy" rating and a $276.00 target price on the stock. Finally, Robert W. Baird increased their price target on shares of Laboratory Co. of America from $253.00 to $267.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $274.00.
Read Our Latest Analysis on LH
Insiders Place Their Bets
In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 500 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $260.00, for a total transaction of $130,000.00. Following the sale, the director now owns 12,666 shares of the company's stock, valued at approximately $3,293,160. This trade represents a 3.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Amy B. Summy sold 758 shares of the business's stock in a transaction on Friday, March 28th. The stock was sold at an average price of $231.67, for a total value of $175,605.86. Following the completion of the transaction, the executive vice president now directly owns 5,302 shares of the company's stock, valued at approximately $1,228,314.34. The trade was a 12.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,092 shares of company stock worth $2,971,820. 0.84% of the stock is currently owned by company insiders.
Laboratory Co. of America Trading Up 0.6%
Shares of LH traded up $1.68 during trading hours on Thursday, reaching $261.63. 452,692 shares of the company traded hands, compared to its average volume of 637,697. The stock's fifty day moving average price is $238.94 and its 200 day moving average price is $239.20. 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 firm has a market cap of $21.90 billion, a price-to-earnings ratio of 29.66, a PEG ratio of 1.71 and a beta of 0.81. Laboratory Co. of America Holdings has a 12-month low of $192.38 and a 12-month high of $262.13.
Laboratory Co. of America (NYSE:LH - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The medical research company reported $3.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.73 by $0.11. The company had revenue of $3.35 billion during the quarter, compared to analysts' expectations of $3.41 billion. Laboratory Co. of America had a net margin of 5.73% and a return on equity of 15.29%. The firm's quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the company earned $3.68 EPS. Sell-side analysts forecast that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.
Laboratory Co. of America Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Thursday, May 29th were given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.10%. Laboratory Co. of America's dividend payout ratio (DPR) is presently 33.29%.
About Laboratory Co. of America
(
Free Report)
Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.
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