Carmel Capital Partners LLC Has $1.52 Million Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Carmel Capital Partners LLC increased its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 9.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,605 shares of the medical research company’s stock after acquiring an additional 547 shares during the period. Carmel Capital Partners LLC’s holdings in Laboratory Co. of America were worth $1,515,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SouthState Corp bought a new stake in Laboratory Co. of America in the 3rd quarter worth about $28,000. Fortitude Family Office LLC grew its position in Laboratory Co. of America by 312.5% in the 4th quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock worth $30,000 after purchasing an additional 100 shares in the last quarter. Geneos Wealth Management Inc. grew its position in Laboratory Co. of America by 309.8% in the 4th quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock worth $39,000 after purchasing an additional 127 shares in the last quarter. Human Investing LLC bought a new stake in Laboratory Co. of America in the 4th quarter worth about $39,000. Finally, Kennebec Savings Bank bought a new stake in Laboratory Co. of America in the 3rd quarter worth about $42,000. Institutional investors and hedge funds own 95.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LH. Barclays reduced their price objective on shares of Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating for the company in a research report on Friday, February 7th. Citigroup raised shares of Laboratory Co. of America from a “neutral” rating to a “buy” rating and increased their target price for the company from $250.00 to $300.00 in a research report on Tuesday. Piper Sandler increased their target price on shares of 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. Bank of America increased their target price on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Jefferies Financial Group increased their target price on shares of 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. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $268.38.

Insiders Place Their Bets

In other news, Director Kerrii B. Anderson sold 1,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total transaction of $235,000.00. Following the sale, the director now owns 12,722 shares in the company, valued at approximately $2,989,670. This trade represents a 7.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Mark S. Schroeder sold 5,339 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $249.23, for a total transaction of $1,330,638.97. Following the sale, the chief operating officer now owns 4,960 shares in the company, valued at approximately $1,236,180.80. This trade represents a 51.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,000 shares of company stock worth $3,449,757 in the last three months. 0.85% of the stock is currently owned by corporate insiders.

Laboratory Co. of America Stock Performance

NYSE LH opened at $254.31 on Thursday. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $258.59. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30. The stock has a market capitalization of $21.29 billion, a PE ratio of 28.83, a P/E/G ratio of 1.71 and a beta of 1.07. The company’s 50 day simple moving average is $242.77 and its two-hundred day simple moving average is $233.34.

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

Laboratory Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio is presently 32.65%.

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.