Laboratory Co. of America Holdings (NYSE:LH) Stock Position Increased by Baker Ellis Asset Management LLC

Baker Ellis Asset Management LLC lifted its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 1.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,935 shares of the medical research company’s stock after purchasing an additional 90 shares during the period. Baker Ellis Asset Management LLC’s holdings in Laboratory Co. of America were worth $1,847,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Geode Capital Management LLC raised its position in shares of Laboratory Co. of America by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 2,003,998 shares of the medical research company’s stock worth $458,334,000 after purchasing an additional 39,255 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Laboratory Co. of America by 2.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,916,505 shares of the medical research company’s stock worth $437,357,000 after purchasing an additional 51,045 shares during the period. Bank of New York Mellon Corp raised its position in shares of Laboratory Co. of America by 2.4% during the fourth quarter. Bank of New York Mellon Corp now owns 1,822,964 shares of the medical research company’s stock worth $418,042,000 after purchasing an additional 41,898 shares during the period. FMR LLC raised its position in shares of Laboratory Co. of America by 2.2% during the fourth quarter. FMR LLC now owns 1,620,826 shares of the medical research company’s stock worth $371,688,000 after purchasing an additional 34,429 shares during the period. Finally, Select Equity Group L.P. raised its position in shares of Laboratory Co. of America by 150.9% during the fourth quarter. Select Equity Group L.P. now owns 1,595,957 shares of the medical research company’s stock worth $365,985,000 after purchasing an additional 959,981 shares during the period. 95.94% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,105 shares of the business’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $248.73, for a total value of $1,518,496.65. Following the completion of the sale, the chief executive officer now owns 98,962 shares of the company’s stock, valued at $24,614,818.26. The trade was a 5.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Brian J. Caveney sold 2,000 shares of the business’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $247.00, for a total value of $494,000.00. Following the completion of the sale, the executive vice president now directly owns 30,067 shares of the company’s stock, valued at $7,426,549. This represents a 6.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,592 shares of company stock valued at $2,841,820 over the last quarter. Insiders own 0.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on LH. Redburn Atlantic began coverage on Laboratory Co. of America in a report on Wednesday, April 2nd. They set a “buy” rating and a $276.00 price target on the stock. Truist Financial lifted their price target on Laboratory Co. of America from $274.00 to $290.00 and gave the company a “buy” rating in a report on Monday, May 12th. Piper Sandler reiterated a “neutral” rating and set a $280.00 price target (up previously from $260.00) on shares of Laboratory Co. of America in a report on Tuesday, May 6th. Wall Street Zen downgraded Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Friday, April 18th. Finally, Robert W. Baird lifted their price target on Laboratory Co. of America from $253.00 to $267.00 and gave the company an “outperform” rating in a report on Wednesday, April 30th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $274.00.

Laboratory Co. of America Stock Performance

Shares of NYSE LH opened at $259.96 on Thursday. The business’s 50-day moving average price is $238.94 and its two-hundred day moving average price is $239.20. 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 one year low of $192.38 and a one year high of $262.13. The company has a market capitalization of $21.76 billion, a P/E ratio of 29.47, a price-to-earnings-growth ratio of 1.71 and a beta of 0.81.

Laboratory Co. of America (NYSE:LH) last issued 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 the consensus estimate of $3.41 billion. During the same quarter in the previous year, the company posted $3.68 earnings per share. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. Analysts anticipate 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 declared a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Thursday, May 29th were given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.11%. Laboratory Co. of America’s dividend 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.