Laboratory Co. of America Holdings (NYSE:LH) Shares Purchased by Norden Group LLC

Norden Group LLC increased its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 21.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,154 shares of the medical research company’s stock after buying an additional 548 shares during the period. Norden Group LLC’s holdings in Laboratory Co. of America were worth $723,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SouthState Corp acquired a new position in Laboratory Co. of America in the 3rd quarter valued at about $28,000. Fortitude Family Office LLC lifted its holdings in shares of 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 acquiring an additional 100 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of 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 acquiring an additional 127 shares during the last quarter. Human Investing LLC acquired a new position in shares of Laboratory Co. of America in the 4th quarter worth approximately $39,000. Finally, Kennebec Savings Bank acquired a new position in shares of Laboratory Co. of America in the 3rd quarter worth approximately $42,000. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Adam H. Schechter sold 6,121 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 86,445 shares in the company, valued at approximately $21,146,175.90. This trade represents a 6.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kerrii B. Anderson sold 1,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $235.00, for a total transaction of $235,000.00. Following the completion of the sale, the director now owns 12,722 shares of the company’s stock, valued at $2,989,670. This trade represents a 7.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,661 shares of company stock worth $2,119,118. Corporate insiders own 0.85% of the company’s stock.

Analyst Upgrades and Downgrades

LH has been the topic of several recent analyst reports. Jefferies Financial Group upped their price objective 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. UBS Group cut their target price on shares of Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. 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 research note on Friday, December 13th. 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 research note on Tuesday, January 7th. Finally, Barclays cut their target price on shares of Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating on the stock in a research note on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $265.75.

Laboratory Co. of America Trading Up 1.2 %

Shares of NYSE:LH opened at $254.01 on Tuesday. Laboratory Co. of America Holdings has a 52 week low of $191.97 and a 52 week high of $258.59. The company’s 50 day moving average is $241.72 and its two-hundred day moving average is $232.98. 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 company has a market cap of $21.26 billion, a PE ratio of 28.80, a P/E/G ratio of 1.71 and a beta of 1.07.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, beating 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%. Equities analysts predict 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.13%. The ex-dividend date is Thursday, February 27th. Laboratory Co. of America’s payout ratio is 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.