Impact Capital Partners LLC Invests $306,000 in Laboratory Co. of America Holdings (NYSE:LH)

Impact Capital Partners LLC acquired a new position in shares of Laboratory Co. of America Holdings (NYSE:LH) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,333 shares of the medical research company’s stock, valued at approximately $306,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Private Trust Co. NA boosted its holdings in Laboratory Co. of America by 3.2% in the 3rd quarter. Private Trust Co. NA now owns 1,342 shares of the medical research company’s stock worth $300,000 after buying an additional 41 shares during the period. Empowered Funds LLC boosted its holdings in Laboratory Co. of America by 0.5% in the 4th quarter. Empowered Funds LLC now owns 8,025 shares of the medical research company’s stock worth $1,840,000 after buying an additional 43 shares during the period. SP Asset Management LLC boosted its holdings in Laboratory Co. of America by 0.3% in the 4th quarter. SP Asset Management LLC now owns 15,186 shares of the medical research company’s stock worth $3,483,000 after buying an additional 43 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in Laboratory Co. of America by 0.4% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 12,780 shares of the medical research company’s stock worth $2,931,000 after buying an additional 45 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its holdings in Laboratory Co. of America by 0.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 7,194 shares of the medical research company’s stock worth $1,650,000 after buying an additional 46 shares during the period. Institutional investors own 95.94% of the company’s stock.

Insider Buying and Selling

In related news, Director Kerrii B. Anderson sold 1,000 shares of Laboratory Co. of America stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total value of $235,000.00. Following the transaction, the director now owns 12,722 shares in the company, valued at $2,989,670. This trade represents a 7.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Der Vaart Sandra D. Van sold 1,314 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $251.30, for a total transaction of $330,208.20. Following the completion of the transaction, the executive vice president now owns 2,171 shares in the company, valued at $545,572.30. The trade was a 37.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,500 shares of company stock worth $3,577,572 in the last 90 days. 0.85% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Piper Sandler raised their price target on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Jefferies Financial Group raised their price target on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Bank of America raised their price target on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a report on Friday, December 13th. Citigroup raised shares of Laboratory Co. of America from a “neutral” rating to a “buy” rating and raised their price target for the company from $250.00 to $300.00 in a report on Tuesday, March 4th. Finally, StockNews.com raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Laboratory Co. of America currently has an average rating of “Moderate Buy” and a consensus price target of $268.38.

Laboratory Co. of America Stock Performance

NYSE LH opened at $235.45 on Friday. 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 debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44. The company has a market capitalization of $19.71 billion, a P/E ratio of 26.69, a P/E/G ratio of 1.71 and a beta of 1.12. The company has a fifty day moving average of $244.47 and a 200-day moving average of $233.94.

Laboratory Co. of America (NYSE:LH) last issued its earnings results on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, topping analysts’ consensus estimates 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%. As a group, equities research analysts predict that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Thursday, February 27th were given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date was Thursday, February 27th. Laboratory Co. of America’s 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.