Grandview Asset Management LLC Invests $427,000 in Laboratory Co. of America Holdings (NYSE:LH)

Grandview Asset Management LLC purchased 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 & Exchange Commission. The institutional investor purchased 1,862 shares of the medical research company’s stock, valued at approximately $427,000.

Several other institutional investors also recently modified their holdings of the business. Select Equity Group L.P. bought a new position in shares of Laboratory Co. of America during the 2nd quarter valued at $73,928,000. Allspring Global Investments Holdings LLC boosted its position in Laboratory Co. of America by 16.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,865,460 shares of the medical research company’s stock worth $416,893,000 after purchasing an additional 263,105 shares during the last quarter. FMR LLC grew its stake in shares of Laboratory Co. of America by 17.0% during the 3rd quarter. FMR LLC now owns 1,586,397 shares of the medical research company’s stock valued at $354,528,000 after purchasing an additional 230,708 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Laboratory Co. of America by 9.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company’s stock valued at $431,405,000 after purchasing an additional 167,137 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of Laboratory Co. of America by 95.5% during the 2nd quarter. AQR Capital Management LLC now owns 282,964 shares of the medical research company’s stock valued at $57,527,000 after purchasing an additional 138,211 shares during the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,189 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $243.47, for a total transaction of $1,506,835.83. Following the transaction, the chief executive officer now owns 87,441 shares of the company’s stock, valued at $21,289,260.27. This represents a 6.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Kerrii B. Anderson sold 1,000 shares of the stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $230.00, for a total value of $230,000.00. Following the transaction, the director now owns 13,722 shares in the company, valued at $3,156,060. This trade represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,572 shares of company stock worth $6,145,209. 0.85% of the stock is owned by company insiders.

Laboratory Co. of America Trading Up 0.9 %

Shares of Laboratory Co. of America stock opened at $234.16 on Tuesday. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $247.99. The stock has a market cap of $19.58 billion, a price-to-earnings ratio of 45.29, a PEG ratio of 1.91 and a beta of 1.06. The company has a fifty day simple moving average of $234.73 and a 200-day simple moving average of $224.96.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings data on Thursday, October 24th. The medical research company reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $3.48 by $0.02. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period last year, the firm earned $3.38 EPS. On average, equities analysts forecast that Laboratory Co. of America Holdings will post 14.52 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. Investors of record on Thursday, February 27th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.23%. Laboratory Co. of America’s dividend payout ratio is currently 55.71%.

Analysts Set New Price Targets

LH has been the subject of several analyst reports. Bank of America upped their price objective on 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. Piper Sandler upped their price target 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. Jefferies Financial Group restated a “buy” rating and set a $275.00 target price (up previously from $265.00) on shares of Laboratory Co. of America in a research note on Tuesday, December 10th. Robert W. Baird boosted their price objective on Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Finally, Hsbc Global Res raised Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $260.54.

Laboratory Co. of America Profile

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.