Crestwood Advisors Group LLC Grows Position in Laboratory Co. of America Holdings (NYSE:LH)

Crestwood Advisors Group LLC lifted its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 26.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,179 shares of the medical research company’s stock after purchasing an additional 246 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Laboratory Co. of America were worth $270,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. IFP Advisors Inc boosted its holdings in Laboratory Co. of America by 278.5% during the 4th quarter. IFP Advisors Inc now owns 352 shares of the medical research company’s stock valued at $81,000 after acquiring an additional 259 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in Laboratory Co. of America by 29.9% during the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 12,607 shares of the medical research company’s stock valued at $2,891,000 after acquiring an additional 2,900 shares during the period. Wealthspire Advisors LLC boosted its holdings in Laboratory Co. of America by 6.5% during the 4th quarter. Wealthspire Advisors LLC now owns 3,844 shares of the medical research company’s stock valued at $882,000 after acquiring an additional 233 shares during the period. Capital City Trust Co. FL boosted its holdings in Laboratory Co. of America by 1.5% during the 4th quarter. Capital City Trust Co. FL now owns 15,553 shares of the medical research company’s stock valued at $3,567,000 after acquiring an additional 223 shares during the period. Finally, Deseret Mutual Benefit Administrators boosted its holdings in Laboratory Co. of America by 28.2% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 232 shares of the medical research company’s stock valued at $53,000 after acquiring an additional 51 shares during the period. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,121 shares of Laboratory Co. of America stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $244.62, for a total value of $1,497,319.02. Following the transaction, the chief executive officer now directly owns 86,445 shares in the company, valued at approximately $21,146,175.90. This trade represents a 6.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Amy B. Summy sold 226 shares of Laboratory Co. of America stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $250.40, for a total value of $56,590.40. Following the completion of the transaction, the chief marketing officer now owns 4,544 shares in the company, valued at $1,137,817.60. This trade represents a 4.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,058 shares of company stock worth $4,845,585 in the last quarter. 0.85% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. UBS Group lowered their target price 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. Bank of America raised their target price on Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a report on Friday, December 13th. Barclays reduced their price target on Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating on the stock in a research report on Friday, February 7th. Evercore ISI raised Laboratory Co. of America from an “in-line” rating to an “outperform” rating and increased their price target for the company from $260.00 to $265.00 in a research report on Tuesday, January 7th. Finally, HSBC raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Three 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $265.75.

Laboratory Co. of America Price Performance

Shares of NYSE LH opened at $251.84 on Thursday. 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. The firm has a market capitalization of $21.06 billion, a PE ratio of 28.55, a price-to-earnings-growth ratio of 1.71 and a beta of 1.07. The stock’s 50-day simple moving average is $240.32 and its 200-day simple moving average is $232.34.

Laboratory Co. of America (NYSE:LH) last issued 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%. As a group, equities research analysts forecast that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a yield of 1.14%. Laboratory Co. of America’s dividend payout ratio is presently 32.65%.

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.