Laboratory Co. of America Holdings (NYSE:LH) Stake Increased by Mcrae Capital Management Inc.

Mcrae Capital Management Inc. boosted its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 84,446 shares of the medical research company’s stock after acquiring an additional 1,295 shares during the quarter. Laboratory Co. of America comprises approximately 3.8% of Mcrae Capital Management Inc.’s portfolio, making the stock its 9th biggest holding. Mcrae Capital Management Inc. owned about 0.10% of Laboratory Co. of America worth $19,365,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Private Trust Co. NA raised its position in Laboratory Co. of America by 3.2% in the third 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. Empowered Funds LLC increased its stake in Laboratory Co. of America by 0.5% during 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. Empirical Finance LLC grew its stake in shares of Laboratory Co. of America by 1.7% during the third quarter. Empirical Finance LLC now owns 3,055 shares of the medical research company’s stock valued at $683,000 after acquiring an additional 50 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Laboratory Co. of America by 16.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 354 shares of the medical research company’s stock worth $81,000 after acquiring an additional 50 shares in the last quarter. Finally, Concord Wealth Partners grew its stake 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 in the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Laboratory Co. of America Trading Up 1.7 %

Shares of NYSE LH opened at $245.31 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $258.59. The company has a market cap of $20.52 billion, a price-to-earnings ratio of 27.81, a P/E/G ratio of 1.84 and a beta of 1.07. The business has a fifty day simple moving average of $236.92 and a 200-day simple moving average of $230.55.

Laboratory Co. of America (NYSE:LH) last posted 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%. Sell-side analysts predict that Laboratory Co. of America Holdings will post 15.96 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend is Thursday, February 27th. Laboratory Co. of America’s payout ratio is 32.65%.

Insider Buying and Selling at Laboratory Co. of America

In related news, CMO Amy B. Summy sold 3,672 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $238.91, for a total transaction of $877,277.52. Following the transaction, the chief marketing officer now directly owns 4,318 shares of the company’s stock, valued at approximately $1,031,613.38. The trade was a 45.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Der Vaart Sandra D. Van sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $239.42, for a total transaction of $239,420.00. Following the completion of the transaction, the executive vice president now owns 2,670 shares in the company, valued at approximately $639,251.40. This represents a 27.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,504 shares of company stock valued at $5,905,692 in the last three months. 0.85% of the stock is currently owned by company insiders.

Analyst Ratings Changes

LH has been the subject of a number of research analyst reports. Robert W. Baird lifted their price target on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Bank of America boosted their price objective on Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Barclays dropped their price objective on shares of Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating on the stock in a report on Friday, February 7th. Jefferies Financial Group lifted their target price on Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Finally, HSBC upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $265.31.

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.