Focus Partners Wealth Has $3.69 Million Position in Laboratory Co. of America Holdings (NYSE:LH)

Focus Partners Wealth raised its stake in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 6.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,094 shares of the medical research company's stock after acquiring an additional 1,018 shares during the period. Focus Partners Wealth's holdings in Laboratory Co. of America were worth $3,691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Empowered Funds LLC lifted its position in Laboratory Co. of America by 0.5% during the 4th quarter. Empowered Funds LLC now owns 8,025 shares of the medical research company's stock worth $1,840,000 after acquiring an additional 43 shares during the period. SP Asset Management LLC grew its holdings in Laboratory Co. of America by 0.3% during the fourth quarter. SP Asset Management LLC now owns 15,186 shares of the medical research company's stock worth $3,483,000 after acquiring an additional 43 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in Laboratory Co. of America by 0.4% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 12,780 shares of the medical research company's stock worth $2,931,000 after acquiring an additional 45 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in Laboratory Co. of America by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,194 shares of the medical research company's stock worth $1,650,000 after acquiring an additional 46 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in Laboratory Co. of America by 16.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 354 shares of the medical research company's stock worth $81,000 after acquiring an additional 50 shares during the period. Institutional investors and hedge funds own 95.94% of the company's stock.

Analyst Ratings Changes

LH has been the topic of several research reports. Jefferies Financial Group upped their target price on Laboratory Co. of America from $275.00 to $290.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Citigroup raised Laboratory Co. of America from a "neutral" rating to a "buy" rating and increased their price objective for the company from $250.00 to $300.00 in a research note on Tuesday, March 4th. StockNews.com lowered Laboratory Co. of America from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. Truist Financial increased their price objective on Laboratory Co. of America from $274.00 to $290.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Finally, Redburn Atlantic started coverage on Laboratory Co. of America in a research note on Wednesday, April 2nd. They set a "buy" rating and a $276.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $270.62.

Insider Transactions at Laboratory Co. of America

In related news, CMO Amy B. Summy sold 226 shares of the company's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $250.40, for a total transaction of $56,590.40. Following the transaction, the chief marketing officer now directly owns 4,544 shares of the company's stock, valued at approximately $1,137,817.60. The trade was a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Peter J. Wilkinson sold 829 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $242.26, for a total value of $200,833.54. Following the completion of the transaction, the chief accounting officer now owns 2,054 shares in the company, valued at $497,602.04. This trade represents a 28.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,971 shares of company stock valued at $4,193,073 over the last three months. Company insiders own 0.84% of the company's stock.

Laboratory Co. of America Price Performance

Shares of LH traded down $0.13 during midday trading on Monday, reaching $249.39. The stock had a trading volume of 772,769 shares, compared to its average volume of 642,406. The firm's 50 day moving average price is $233.57 and its 200-day moving average price is $237.71. The company has a market capitalization of $20.87 billion, a P/E ratio of 28.28, 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 current ratio of 1.44 and a quick ratio of 1.30. Laboratory Co. of America Holdings has a 52 week low of $191.97 and a 52 week high of $258.59.

Laboratory Co. of America (NYSE:LH - Get Free Report) last announced its earnings results on Tuesday, April 29th. The medical research company reported $3.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.73 by $0.11. The company had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.41 billion. Laboratory Co. of America had a return on equity of 15.29% and a net margin of 5.73%. Laboratory Co. of America's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.68 earnings per share. On average, analysts forecast 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Thursday, May 29th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.15%. Laboratory Co. of America's dividend payout ratio (DPR) is presently 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.