BlackDiamond Wealth Management LLC Decreases Stock Holdings in Laboratory Co. of America Holdings (NYSE:LH)

BlackDiamond Wealth Management LLC decreased its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 10.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,992 shares of the medical research company’s stock after selling 234 shares during the quarter. BlackDiamond Wealth Management LLC’s holdings in Laboratory Co. of America were worth $457,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. SouthState Corp purchased a new stake in Laboratory Co. of America during the third quarter valued at $28,000. Fortitude Family Office LLC raised its stake in Laboratory Co. of America by 312.5% during the fourth quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 100 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in Laboratory Co. of America by 309.8% during the fourth quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock valued at $39,000 after purchasing an additional 127 shares in the last quarter. Human Investing LLC purchased a new stake in shares of Laboratory Co. of America in the fourth quarter valued at $39,000. Finally, True Wealth Design LLC raised its stake in shares of Laboratory Co. of America by 3,660.0% in the third quarter. True Wealth Design LLC now owns 188 shares of the medical research company’s stock valued at $42,000 after acquiring an additional 183 shares during the period. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LH. Morgan Stanley increased their target price on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. UBS Group reduced 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. Jefferies Financial Group increased their target price on shares of 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. Piper Sandler increased their target price on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Finally, Bank of America increased their target price on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $268.38.

Laboratory Co. of America Stock Up 0.4 %

Shares of Laboratory Co. of America stock opened at $240.43 on Tuesday. 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 firm’s 50-day moving average is $244.90 and its two-hundred day moving average is $234.14. The stock has a market cap of $20.12 billion, a price-to-earnings ratio of 27.26, a PEG ratio of 1.71 and a beta of 1.12.

Laboratory Co. of America (NYSE:LH) last issued its earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. As a group, research analysts expect that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th were issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend was Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio is currently 32.65%.

Insider Activity

In related news, CEO Adam H. Schechter sold 6,121 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 86,445 shares of the company’s stock, valued at $21,146,175.90. This trade represents a 6.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Mark S. Schroeder sold 5,339 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $249.23, for a total transaction of $1,330,638.97. Following the completion of the transaction, the chief operating officer now directly owns 4,960 shares of the company’s stock, valued at $1,236,180.80. The trade was a 51.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,500 shares of company stock worth $3,577,572. Corporate insiders own 0.85% of the company’s stock.

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.