Foster & Motley Inc. Acquires 769 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Foster & Motley Inc. lifted its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 10.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,140 shares of the medical research company’s stock after purchasing an additional 769 shares during the quarter. Foster & Motley Inc.’s holdings in Laboratory Co. of America were worth $1,867,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in LH. Private Trust Co. NA increased its position in Laboratory Co. of America by 3.2% during the 3rd quarter. Private Trust Co. NA now owns 1,342 shares of the medical research company’s stock valued at $300,000 after purchasing an additional 41 shares during the period. Empirical Finance LLC increased its position in Laboratory Co. of America by 1.7% during the 3rd quarter. Empirical Finance LLC now owns 3,055 shares of the medical research company’s stock valued at $683,000 after purchasing an additional 50 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in Laboratory Co. of America by 16.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 354 shares of the medical research company’s stock valued at $81,000 after purchasing an additional 50 shares during the period. Concord Wealth Partners increased its position in Laboratory Co. of America by 43.3% during the 3rd quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock valued at $38,000 after purchasing an additional 52 shares during the period. Finally, Rehmann Capital Advisory Group increased its position in Laboratory Co. of America by 1.9% during the 3rd quarter. Rehmann Capital Advisory Group now owns 2,844 shares of the medical research company’s stock valued at $637,000 after purchasing an additional 53 shares during the period. Institutional investors own 95.94% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on LH shares. Hsbc Global Res raised shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Jefferies Financial Group reaffirmed a “buy” rating and set a $275.00 price objective (up previously from $265.00) on shares of Laboratory Co. of America in a research report on Tuesday, December 10th. Barclays raised their price objective on shares of Laboratory Co. of America from $234.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Bank of America raised their price objective on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, HSBC raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $261.77.

Insider Buying and Selling at Laboratory Co. of America

In other news, CMO Amy B. Summy sold 3,672 shares of Laboratory Co. of America stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $238.91, for a total transaction of $877,277.52. Following the sale, the chief marketing officer now directly owns 4,318 shares in the company, valued at $1,031,613.38. The trade was a 45.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Adam H. Schechter sold 6,189 shares of Laboratory Co. of America stock in a transaction on Monday, November 11th. The stock was sold at an average price of $243.47, for a total value of $1,506,835.83. Following the sale, the chief executive officer now owns 87,441 shares in the company, valued at $21,289,260.27. The trade was a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,572 shares of company stock worth $5,915,209. Corporate insiders own 0.85% of the company’s stock.

Laboratory Co. of America Price Performance

Shares of NYSE:LH opened at $251.39 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66. The stock’s fifty day simple moving average is $235.60 and its two-hundred day simple moving average is $228.09. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $258.59. The stock has a market cap of $21.03 billion, a PE ratio of 48.62, a price-to-earnings-growth ratio of 1.81 and a beta of 1.06.

Laboratory Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders 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 yield of 1.15%. The ex-dividend date is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 55.71%.

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.