Thoroughbred Financial Services LLC Acquires 503 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Thoroughbred Financial Services LLC grew its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 33.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,019 shares of the medical research company’s stock after buying an additional 503 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Laboratory Co. of America were worth $462,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in Laboratory Co. of America during the fourth quarter worth about $239,811,000. Amundi raised its holdings in shares of Laboratory Co. of America by 344.9% in the 4th quarter. Amundi now owns 1,123,409 shares of the medical research company’s stock valued at $263,161,000 after purchasing an additional 870,903 shares during the period. Madison Investment Advisors LLC bought a new stake in shares of Laboratory Co. of America in the 4th quarter valued at about $123,415,000. Alliancebernstein L.P. lifted its stake in Laboratory Co. of America by 59.4% in the 4th quarter. Alliancebernstein L.P. now owns 1,021,104 shares of the medical research company’s stock valued at $234,160,000 after purchasing an additional 380,624 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Laboratory Co. of America by 9.5% during the third quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company’s stock worth $431,405,000 after buying an additional 167,137 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Laboratory Co. of America

In other news, Director Kerrii B. Anderson sold 500 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $255.63, for a total value of $127,815.00. Following the completion of the transaction, the director now directly owns 13,166 shares in the company, valued at approximately $3,365,624.58. This represents a 3.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Amy B. Summy sold 758 shares of the business’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of $231.67, for a total value of $175,605.86. Following the sale, the executive vice president now owns 5,302 shares in the company, valued at $1,228,314.34. This represents a 12.51 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,258 shares of company stock valued at $3,753,177. 0.85% of the stock is currently owned by insiders.

Laboratory Co. of America Price Performance

Shares of NYSE:LH opened at $222.49 on Monday. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $18.62 billion, a PE ratio of 25.23, a PEG ratio of 1.71 and a beta of 1.12. The firm has a 50 day moving average of $243.63 and a 200-day moving average of $234.95. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $258.59.

Laboratory Co. of America (NYSE:LH) last released its earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share for the quarter, topping the consensus estimate of $3.40 by $0.05. Laboratory Co. of America had a return on equity of 15.29% and a net margin of 5.73%. On average, equities research analysts predict that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th were paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend was Thursday, February 27th. Laboratory Co. of America’s payout ratio is 32.65%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. UBS Group cut their price objective on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. StockNews.com raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Sunday. Piper Sandler raised their target price on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Jefferies Financial Group increased their price target on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Finally, Morgan Stanley boosted their price objective on Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $270.38.

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.