Delphi Management Inc. MA Buys New Shares in Laboratory Co. of America Holdings (NYSE:LH)

Delphi Management Inc. MA bought a new stake in Laboratory Co. of America Holdings (NYSE:LH - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,115 shares of the medical research company's stock, valued at approximately $1,423,000. Laboratory Co. of America makes up approximately 1.5% of Delphi Management Inc. MA's investment portfolio, making the stock its 18th biggest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LH. Graney & King LLC bought a new position in shares of Laboratory Co. of America during the 4th quarter worth approximately $26,000. Geneos Wealth Management Inc. lifted its holdings in shares of Laboratory Co. of America by 309.8% during the fourth quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company's stock valued at $39,000 after acquiring an additional 127 shares during the period. Human Investing LLC acquired a new stake in shares of Laboratory Co. of America in the 4th quarter valued at $39,000. Heck Capital Advisors LLC bought a new stake in shares of Laboratory Co. of America in the 4th quarter worth about $44,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Laboratory Co. of America in the 4th quarter worth about $52,000. 95.94% of the stock is owned by institutional investors.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, EVP Amy B. Summy sold 758 shares of the stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $231.67, for a total transaction of $175,605.86. Following the completion of the transaction, the executive vice president now owns 5,302 shares in the company, valued at approximately $1,228,314.34. This represents a 12.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Der Vaart Sandra D. Van sold 1,900 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $238.36, for a total value of $452,884.00. Following the transaction, the executive vice president now owns 2,244 shares of the company's stock, valued at approximately $534,879.84. The trade was a 45.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,592 shares of company stock valued at $2,347,820. Corporate insiders own 0.84% of the company's stock.

Laboratory Co. of America Trading Up 1.4%

Shares of LH traded up $3.52 on Wednesday, reaching $254.03. 309,510 shares of the company's stock were exchanged, compared to its average volume of 634,535. The business has a 50 day moving average price of $235.99 and a two-hundred day moving average price of $238.48. Laboratory Co. of America Holdings has a 12 month low of $192.38 and a 12 month high of $258.59. The stock has a market capitalization of $21.26 billion, a P/E ratio of 28.80, a price-to-earnings-growth ratio of 1.71 and a beta of 0.82. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67.

Laboratory Co. of America (NYSE:LH - Get Free Report) last issued its earnings results on Tuesday, April 29th. The medical research company reported $3.84 EPS for the quarter, beating the consensus estimate of $3.73 by $0.11. Laboratory Co. of America had a net margin of 5.73% and a return on equity of 15.29%. The company had revenue of $3.35 billion during the quarter, compared to analysts' expectations of $3.41 billion. During the same quarter in the previous year, the company posted $3.68 EPS. The business's revenue for the quarter was up 5.3% compared to the same quarter last year. Research analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Thursday, May 29th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.13%. Laboratory Co. of America's dividend payout ratio is currently 33.29%.

Wall Street Analysts Forecast Growth

LH has been the topic of several recent analyst reports. Barclays boosted their target price on Laboratory Co. of America from $240.00 to $250.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 30th. Citigroup upgraded Laboratory Co. of America from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $250.00 to $300.00 in a research report on Tuesday, March 4th. Jefferies Financial Group increased their target price on Laboratory Co. of America from $275.00 to $290.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Robert W. Baird raised their target price 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. Finally, Truist Financial upped their price target on shares of 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 investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $272.92.

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.