892 Shares in Laboratory Co. of America Holdings (NYSE:LH) Bought by Cidel Asset Management Inc.

Cidel Asset Management Inc. acquired a new stake in shares of Laboratory Co. of America Holdings (NYSE:LH) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 892 shares of the medical research company’s stock, valued at approximately $205,000.

Several other large investors have also recently modified their holdings of LH. OneDigital Investment Advisors LLC lifted its holdings in Laboratory Co. of America by 115.7% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 6,088 shares of the medical research company’s stock worth $1,361,000 after buying an additional 3,265 shares during the period. Alexander Randolph Advisory Inc. purchased a new stake in shares of Laboratory Co. of America in the 3rd quarter worth about $955,000. Wealthcare Advisory Partners LLC boosted its stake in shares of Laboratory Co. of America by 23.9% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 2,543 shares of the medical research company’s stock valued at $583,000 after purchasing an additional 490 shares in the last quarter. Mutual of America Capital Management LLC purchased a new position in shares of Laboratory Co. of America during the third quarter valued at about $2,316,000. Finally, Barclays PLC raised its stake in Laboratory Co. of America by 11.8% in the third quarter. Barclays PLC now owns 620,721 shares of the medical research company’s stock worth $138,718,000 after buying an additional 65,356 shares in the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Stock Down 0.6 %

Laboratory Co. of America stock opened at $246.18 on Monday. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $258.59. The stock has a fifty day simple moving average of $236.67 and a two-hundred day simple moving average of $229.85. 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 firm has a market cap of $20.59 billion, a price-to-earnings ratio of 27.91, a PEG ratio of 1.84 and a beta of 1.07.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 EPS 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%. Equities analysts predict that Laboratory Co. of America Holdings will post 15.96 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio is currently 32.65%.

Wall Street Analyst Weigh In

LH has been the subject of a number of research analyst reports. Robert W. Baird raised their target price on Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Jefferies Financial Group raised their price objective on Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday. Piper Sandler upped their target price on shares of Laboratory Co. of America from $235.00 to $240.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Hsbc Global Res raised shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Finally, Bank of America upped their price objective on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $263.77.

Insider Buying and Selling

In related news, CMO Amy B. Summy sold 3,672 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $238.91, for a total transaction of $877,277.52. Following the completion of the sale, the chief marketing officer now directly owns 4,318 shares in the company, valued at approximately $1,031,613.38. The trade was a 45.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Der Vaart Sandra D. Van sold 1,000 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $239.42, for a total transaction of $239,420.00. Following the completion of the transaction, the executive vice president now owns 2,670 shares in the company, valued at $639,251.40. The trade was a 27.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,383 shares of company stock worth $4,408,373. 0.85% of the stock is owned by insiders.

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.