Kovitz Investment Group Partners LLC Acquires New Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Kovitz Investment Group Partners LLC purchased a new position in Laboratory Co. of America Holdings (NYSE:LH - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,882 shares of the medical research company's stock, valued at approximately $431,000.

Several other institutional investors have also added to or reduced their stakes in LH. Barclays PLC raised its stake in Laboratory Co. of America by 11.8% during the 3rd quarter. Barclays PLC now owns 620,721 shares of the medical research company's stock worth $138,718,000 after acquiring an additional 65,356 shares during the period. Virtu Financial LLC bought a new position in shares of Laboratory Co. of America in the third quarter worth about $604,000. World Investment Advisors LLC bought a new position in Laboratory Co. of America in the 3rd quarter worth approximately $5,955,000. Wilmington Savings Fund Society FSB boosted its position in shares of Laboratory Co. of America by 34.6% during the third quarter. Wilmington Savings Fund Society FSB now owns 25,847 shares of the medical research company's stock worth $5,776,000 after acquiring an additional 6,651 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in Laboratory Co. of America by 27.3% during the third quarter. Franklin Resources Inc. now owns 20,837 shares of the medical research company's stock valued at $4,519,000 after acquiring an additional 4,468 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors.

Laboratory Co. of America Trading Down 1.1 %

Shares of LH stock traded down $2.74 during trading hours on Tuesday, reaching $244.08. 264,897 shares of the stock were exchanged, compared to its average volume of 637,893. 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 Holdings has a 12-month low of $191.97 and a 12-month high of $258.59. The firm has a market capitalization of $20.42 billion, a price-to-earnings ratio of 27.66, a price-to-earnings-growth ratio of 1.71 and a beta of 0.82. The company's 50-day moving average price is $234.19 and its 200-day moving average price is $236.33.

Laboratory Co. of America (NYSE:LH - Get Free Report) last released its earnings results on Tuesday, April 29th. The medical research company reported $3.84 EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $3.35 billion for the quarter, compared to analysts' expectations of $3.41 billion. During the same quarter in the prior year, the firm posted $3.68 earnings per share. The company's quarterly revenue was up 5.3% on a year-over-year basis. As a group, equities 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders 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 1.18%. Laboratory Co. of America's dividend payout ratio is currently 33.29%.

Insider Transactions at Laboratory Co. of America

In other Laboratory Co. of America news, CAO Peter J. Wilkinson sold 829 shares of the company's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $242.26, for a total value of $200,833.54. Following the completion of the sale, the chief accounting officer now directly owns 2,054 shares in the company, valued at approximately $497,602.04. This represents a 28.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 1,900 shares of the firm's stock in a transaction on Thursday, May 1st. The shares were 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 in the company, valued at approximately $534,879.84. This represents a 45.85 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,987 shares of company stock worth $4,171,895. Insiders own 0.84% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Jefferies Financial Group raised their price objective on 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. UBS Group cut their price target on Laboratory Co. of America from $293.00 to $286.00 and set a "buy" rating for the company in a report on Tuesday, January 28th. Robert W. Baird lifted their price objective on Laboratory Co. of America from $253.00 to $267.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Truist Financial lowered their target price on Laboratory Co. of America from $285.00 to $274.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Finally, Evercore ISI upgraded shares of Laboratory Co. of America from an "in-line" rating to an "outperform" rating and boosted their price target for the stock from $260.00 to $265.00 in a research report on Tuesday, January 7th. Four 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's stock. According to MarketBeat.com, Laboratory Co. of America has an average rating of "Moderate Buy" and a consensus price target of $269.38.

Laboratory Co. of America Profile

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.