Burgundy Asset Management Ltd. Has $20.39 Million Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Burgundy Asset Management Ltd. grew its stake in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 2.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 88,895 shares of the medical research company's stock after acquiring an additional 2,138 shares during the period. Burgundy Asset Management Ltd. owned 0.11% of Laboratory Co. of America worth $20,385,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of LH. Graney & King LLC acquired a new stake in shares of Laboratory Co. of America in the fourth quarter valued at approximately $26,000. Geneos Wealth Management Inc. raised 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 valued at $39,000 after buying an additional 127 shares in the last quarter. Human Investing LLC acquired a new stake in shares of Laboratory Co. of America in the fourth quarter valued at approximately $39,000. Heck Capital Advisors LLC acquired a new stake in shares of Laboratory Co. of America in the fourth quarter valued at approximately $44,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Laboratory Co. of America in the fourth quarter valued at approximately $52,000. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Laboratory Co. of America Stock Performance

NYSE LH opened at $241.82 on Friday. The firm's fifty day moving average price is $234.19 and its two-hundred day moving average price is $238.07. The stock has a market cap of $20.24 billion, a PE ratio of 27.42, a PEG ratio of 1.71 and a beta of 0.82. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $258.59. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44.

Laboratory Co. of America (NYSE:LH - Get Free Report) last posted its earnings results on Tuesday, April 29th. The medical research company reported $3.84 earnings per share for the quarter, topping analysts' consensus estimates of $3.73 by $0.11. The firm had revenue of $3.35 billion for 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 company's revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.68 earnings per share. On average, equities analysts expect that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Thursday, May 29th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.19%. Laboratory Co. of America's payout ratio is presently 33.29%.

Insiders Place Their Bets

In related news, CEO Adam H. Schechter sold 6,105 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $248.73, for a total value of $1,518,496.65. Following the sale, the chief executive officer now owns 98,962 shares of the company's stock, valued at $24,614,818.26. The trade was a 5.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Mark S. Schroeder sold 5,339 shares of the business's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $249.23, for a total transaction of $1,330,638.97. Following the completion of the sale, the chief operating officer now directly owns 4,960 shares in the company, valued at approximately $1,236,180.80. This represents a 51.84% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,971 shares of company stock valued at $4,193,073. 0.84% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

LH has been the subject of a number of analyst reports. Citigroup upgraded shares of Laboratory Co. of America from a "neutral" rating to a "buy" rating and lifted their price target for the company from $250.00 to $300.00 in a research report on Tuesday, March 4th. Redburn Atlantic initiated coverage on shares of Laboratory Co. of America in a research report on Wednesday, April 2nd. They issued a "buy" rating and a $276.00 price target for the company. Barclays lifted their price target 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. Jefferies Financial Group boosted their price objective on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Finally, Truist Financial boosted their price objective on shares of Laboratory Co. of America from $274.00 to $290.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $270.62.

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.

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