Delphi Management Inc. MA Invests $1.42 Million in Laboratory Co. of America Holdings (NYSE:LH)

Delphi Management Inc. MA purchased a new position in Laboratory Co. of America Holdings (NYSE:LH - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 6,115 shares of the medical research company's stock, valued at approximately $1,423,000. Laboratory Co. of America makes up about 1.5% of Delphi Management Inc. MA's portfolio, making the stock its 18th biggest holding.

Other institutional investors have also modified their holdings of the company. Capital City Trust Co. FL lifted its holdings in Laboratory Co. of America by 1.5% during the 4th quarter. Capital City Trust Co. FL now owns 15,553 shares of the medical research company's stock worth $3,567,000 after buying an additional 223 shares during the last quarter. Bryn Mawr Capital Management LLC raised its position in shares of Laboratory Co. of America by 51.2% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 1,495 shares of the medical research company's stock worth $343,000 after purchasing an additional 506 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Laboratory Co. of America by 28.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,394 shares of the medical research company's stock worth $2,162,000 after purchasing an additional 2,081 shares during the period. Manning & Napier Advisors LLC raised its position in shares of Laboratory Co. of America by 84.5% during the 4th quarter. Manning & Napier Advisors LLC now owns 12,099 shares of the medical research company's stock worth $2,775,000 after purchasing an additional 5,543 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Laboratory Co. of America by 9.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company's stock valued at $431,405,000 after acquiring an additional 167,137 shares during the period. Institutional investors and hedge funds own 95.94% of the company's stock.

Laboratory Co. of America Stock Down 0.5%

Shares of NYSE:LH traded down $1.23 during midday trading on Monday, hitting $247.74. 415,565 shares of the stock were exchanged, compared to its average volume of 635,491. 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 Holdings has a 52-week low of $192.38 and a 52-week high of $258.59. The business's fifty day simple moving average is $235.32 and its two-hundred day simple moving average is $238.31. The company has a market capitalization of $20.74 billion, a PE ratio of 28.09, a P/E/G ratio of 1.71 and a beta of 0.82.

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, beating the consensus estimate of $3.73 by $0.11. Laboratory Co. of America had a return on equity of 15.29% and a net margin of 5.73%. The company had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.41 billion. During the same period last year, the company earned $3.68 earnings per share. The business's revenue was up 5.3% compared to the same quarter last year. As a group, research analysts predict that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Barclays increased their price target on Laboratory Co. of America from $240.00 to $250.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 30th. Citigroup raised Laboratory Co. of America from a "neutral" rating to a "buy" rating and increased their price target for the company from $250.00 to $300.00 in a research note on Tuesday, March 4th. Robert W. Baird increased their price target on Laboratory Co. of America from $253.00 to $267.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Redburn Atlantic assumed coverage on Laboratory Co. of America in a research note on Wednesday, April 2nd. They set a "buy" rating and a $276.00 price target for the company. Finally, Wall Street Zen lowered Laboratory Co. of America from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $272.92.

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, EVP Amy B. Summy sold 758 shares of Laboratory Co. of America stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $231.67, for a total transaction of $175,605.86. Following the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kerrii B. Anderson sold 500 shares of Laboratory Co. of America stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $255.63, for a total value of $127,815.00. Following the sale, the director now directly owns 13,166 shares in the company, valued at $3,365,624.58. The trade was a 3.66% 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 worth $2,475,635 over the last three months. Company insiders own 0.84% 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.