Laboratory Co. of America Holdings (NYSE:LH) Shares Bought by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC grew its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 109.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,070 shares of the medical research company’s stock after purchasing an additional 1,081 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Laboratory Co. of America were worth $475,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. State Street Corp lifted its stake in shares of Laboratory Co. of America by 0.7% in the third 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 in the last quarter. Diamond Hill Capital Management Inc. increased 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 valued at $442,197,000 after buying an additional 29,046 shares during the last quarter. Geode Capital Management LLC increased its holdings in Laboratory Co. of America by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,964,743 shares of the medical research company’s stock valued at $437,561,000 after buying an additional 13,298 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Laboratory Co. of America by 9.5% in the third 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 last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Laboratory Co. of America by 2.7% in the fourth 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 during the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Insider Transactions at Laboratory Co. of America

In other news, CMO Amy B. Summy sold 226 shares of Laboratory Co. of America stock in a transaction on Monday, February 24th. The stock was sold at an average price of $250.40, for a total transaction of $56,590.40. Following the transaction, the chief marketing officer now owns 4,544 shares in the company, valued at approximately $1,137,817.60. The trade was a 4.74 % 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 Glenn A. Eisenberg sold 11,711 shares of Laboratory Co. of America stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $240.43, for a total value of $2,815,675.73. Following the transaction, the executive vice president now owns 31,289 shares in the company, valued at $7,522,814.27. This represents a 27.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,372 shares of company stock valued at $5,175,793 in the last three months. 0.85% of the stock is currently owned by corporate insiders.

Laboratory Co. of America Stock Performance

LH opened at $247.89 on Friday. The company has a market capitalization of $20.73 billion, a price-to-earnings ratio of 28.11, a price-to-earnings-growth ratio of 1.71 and a beta of 1.07. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $258.59. The business has a 50 day moving average price of $240.74 and a two-hundred day moving average price of $232.44.

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 for the quarter, topping 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%. 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be paid 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 presently 32.65%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on LH shares. 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 report on Monday, February 10th. Evercore ISI raised Laboratory Co. of America from an “in-line” rating to an “outperform” rating and upped their target price for the company from $260.00 to $265.00 in a report on Tuesday, January 7th. Jefferies Financial Group upped their target price on Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a report on Thursday, February 6th. UBS Group reduced their price objective on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Finally, StockNews.com upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.