GF Fund Management CO. LTD. Purchases New Position in Laboratory Co. of America Holdings (NYSE:LH)

GF Fund Management CO. LTD. bought a new position in Laboratory Co. of America Holdings (NYSE:LH - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 2,097 shares of the medical research company's stock, valued at approximately $481,000.

A number of other institutional investors have also bought and sold shares of the business. Graney & King LLC acquired a new stake in shares of Laboratory Co. of America during the 4th quarter worth approximately $26,000. Geneos Wealth Management Inc. increased its holdings in shares of Laboratory Co. of America by 309.8% during the 4th 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. Human Investing LLC acquired a new stake in shares of Laboratory Co. of America during the 4th quarter worth approximately $39,000. Heck Capital Advisors LLC acquired a new stake in shares of Laboratory Co. of America during the 4th quarter worth approximately $44,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Laboratory Co. of America during the 4th quarter worth approximately $52,000. 95.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Amy B. Summy sold 758 shares of the business's stock in a transaction on Friday, March 28th. The shares were 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. The trade was a 12.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 transaction of $1,518,496.65. Following the completion of the sale, the chief executive officer now directly owns 98,962 shares of the company's stock, valued at approximately $24,614,818.26. This trade represents a 5.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,092 shares of company stock worth $2,475,635. Corporate insiders own 0.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LH. Citigroup upgraded shares of Laboratory Co. of America from a "neutral" rating to a "buy" rating and raised their price target for the stock from $250.00 to $300.00 in a report on Tuesday, March 4th. Wall Street Zen downgraded shares of Laboratory Co. of America from a "buy" rating to a "hold" rating in a report on Friday, April 18th. Truist Financial lifted their target price on shares of Laboratory Co. of America from $274.00 to $290.00 and gave the company a "buy" rating in a report on Monday, May 12th. Barclays lifted their target price on shares of Laboratory Co. of America from $240.00 to $250.00 and gave the company an "equal weight" rating in a report on Wednesday, April 30th. Finally, Redburn Atlantic started 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 for the company. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $270.62.

Laboratory Co. of America Stock Up 0.3%

Shares of NYSE:LH traded up $0.63 during trading on Friday, hitting $247.38. The company's stock had a trading volume of 214,432 shares, compared to its average volume of 637,925. The business has a 50 day moving average price of $235.02 and a two-hundred day moving average price of $238.33. The company has a market capitalization of $20.71 billion, a PE ratio of 28.05, a P/E/G ratio of 1.71 and a beta of 0.82. 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 fifty-two week low of $191.97 and a fifty-two week high of $258.59.

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 EPS for the quarter, topping the consensus estimate of $3.73 by $0.11. The business had revenue of $3.35 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.68 earnings per share. As a group, research analysts expect that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 1.16%. Laboratory Co. of America's payout ratio is currently 33.29%.

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.