Oppenheimer Asset Management Inc. Has $2.93 Million Stock Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Oppenheimer Asset Management Inc. grew its stake in Laboratory Co. of America Holdings (NYSE:LH) by 0.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,780 shares of the medical research company’s stock after purchasing an additional 45 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Laboratory Co. of America were worth $2,931,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. State Street Corp boosted its stake in Laboratory Co. of America by 0.7% during the 3rd quarter. State Street Corp now owns 3,726,627 shares of the medical research company’s stock worth $832,827,000 after acquiring an additional 25,469 shares during the last quarter. Diamond Hill Capital Management Inc. raised its holdings in Laboratory Co. of America by 1.5% in the third quarter. Diamond Hill Capital Management Inc. now owns 1,978,686 shares of the medical research company’s stock worth $442,197,000 after purchasing an additional 29,046 shares during the period. Geode Capital Management LLC boosted its position in shares of Laboratory Co. of America by 0.7% during the third quarter. Geode Capital Management LLC now owns 1,964,743 shares of the medical research company’s stock worth $437,561,000 after purchasing an additional 13,298 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Laboratory Co. of America by 9.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company’s stock valued at $431,405,000 after buying an additional 167,137 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Laboratory Co. of America by 2.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,916,505 shares of the medical research company’s stock valued at $437,357,000 after buying an additional 51,045 shares in the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, CMO Amy B. Summy sold 226 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $250.40, for a total value of $56,590.40. Following the sale, the chief marketing officer now owns 4,544 shares in the company, valued at $1,137,817.60. This represents a 4.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Der Vaart Sandra D. Van sold 1,314 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $251.30, for a total value of $330,208.20. Following the completion of the sale, the executive vice president now directly owns 2,171 shares of the company’s stock, valued at approximately $545,572.30. The trade was a 37.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,372 shares of company stock valued at $5,175,793. 0.85% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on LH shares. Barclays decreased their target price on Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating for the company in a research note on Friday, February 7th. Piper Sandler boosted their price objective on Laboratory Co. of America from $240.00 to $260.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Morgan Stanley raised their target price on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. StockNews.com raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Finally, Jefferies Financial Group increased their price objective on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. 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. According to MarketBeat.com, Laboratory Co. of America has an average rating of “Moderate Buy” and a consensus price target of $265.75.

Laboratory Co. of America Stock Up 1.5 %

Shares of LH stock opened at $251.45 on Friday. The firm’s fifty day moving average price is $241.20 and its two-hundred day moving average price is $232.70. 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 1 year low of $191.97 and a 1 year high of $258.59. The firm has a market capitalization of $21.03 billion, a P/E ratio of 28.51, a PEG ratio of 1.71 and a beta of 1.07.

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 (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts predict that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Thursday, February 27th. Laboratory Co. of America’s payout ratio is presently 32.65%.

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.