Hahn Capital Management LLC Buys 12,495 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Hahn Capital Management LLC boosted its stake in Laboratory Co. of America Holdings (NYSE:LH) by 47.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,720 shares of the medical research company’s stock after purchasing an additional 12,495 shares during the period. Laboratory Co. of America makes up approximately 3.9% of Hahn Capital Management LLC’s holdings, making the stock its 13th largest position. Hahn Capital Management LLC’s holdings in Laboratory Co. of America were worth $8,879,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Capital City Trust Co. FL grew its position in Laboratory Co. of America by 1.5% in the 4th quarter. Capital City Trust Co. FL now owns 15,553 shares of the medical research company’s stock worth $3,567,000 after purchasing an additional 223 shares during the period. OneDigital Investment Advisors LLC grew its position in shares of Laboratory Co. of America by 115.7% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 6,088 shares of the medical research company’s stock valued at $1,361,000 after acquiring an additional 3,265 shares during the period. Alexander Randolph Advisory Inc. bought a new stake in shares of Laboratory Co. of America during the 3rd quarter valued at $955,000. Wealthcare Advisory Partners LLC grew its position 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 acquiring an additional 490 shares during the period. Finally, Mutual of America Capital Management LLC bought a new stake in shares of Laboratory Co. of America during the 3rd quarter valued at $2,316,000. Institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Stock Down 1.7 %

LH opened at $247.89 on Friday. The firm has a 50-day simple moving average of $240.74 and a two-hundred day simple moving average of $232.44. Laboratory Co. of America Holdings has a 52 week low of $191.97 and a 52 week high of $258.59. The company has a market capitalization of $20.73 billion, a PE ratio of 28.11, a price-to-earnings-growth ratio of 1.71 and a beta of 1.07. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67.

Laboratory Co. of America (NYSE:LH) last announced its earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) for the quarter, beating 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 forecast 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio is 32.65%.

Insider Activity

In related news, CEO Adam H. Schechter sold 6,121 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $244.62, for a total value of $1,497,319.02. Following the sale, the chief executive officer now directly owns 86,445 shares of the company’s stock, valued at $21,146,175.90. This represents a 6.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Glenn A. Eisenberg sold 11,711 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $240.43, for a total transaction of $2,815,675.73. Following the completion of the sale, the executive vice president now directly owns 31,289 shares in the company, valued at $7,522,814.27. This trade represents a 27.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,372 shares of company stock worth $5,175,793. 0.85% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on LH shares. Morgan Stanley boosted their price objective on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Piper Sandler upped their target price on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Bank of America upped their target price 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. Jefferies Financial Group upped their target price on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Finally, Evercore ISI raised shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $260.00 to $265.00 in a report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $265.75.

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.