Deseret Mutual Benefit Administrators Has $53,000 Stake in Laboratory Co. of America Holdings (NYSE:LH)

Deseret Mutual Benefit Administrators increased its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 28.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 232 shares of the medical research company’s stock after acquiring an additional 51 shares during the period. Deseret Mutual Benefit Administrators’ holdings in Laboratory Co. of America were worth $53,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. SouthState Corp acquired a new stake in Laboratory Co. of America in the 3rd quarter valued at approximately $28,000. Horizon Bancorp Inc. IN acquired a new stake in Laboratory Co. of America in the 3rd quarter valued at approximately $29,000. Fortitude Family Office LLC grew its holdings in 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 valued at $30,000 after buying an additional 100 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in 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 valued at $39,000 after buying an additional 127 shares during the last quarter. Finally, Human Investing LLC acquired a new stake in Laboratory Co. of America in the 4th quarter valued at approximately $39,000. Institutional investors and hedge funds own 95.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on LH. HSBC raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. Barclays decreased their price objective on 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. Bank of America lifted their price objective on Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Jefferies Financial Group lifted their price objective on Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Finally, Morgan Stanley lifted their price objective on Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $265.31.

Insider Buying and Selling

In other news, Director Dwight Gary Gilliland sold 1,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $241.00, for a total value of $241,000.00. Following the sale, the director now directly owns 7,712 shares in the company, valued at $1,858,592. The trade was a 11.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Adam H. Schechter sold 6,121 shares of the business’s stock in a transaction dated 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,832 shares of company stock valued at $4,788,995 over the last three months. Company insiders own 0.85% of the company’s stock.

Laboratory Co. of America Trading Up 0.3 %

Shares of LH opened at $249.86 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $258.59. The stock has a fifty day moving average price of $238.93 and a two-hundred day moving average price of $231.69. The company has a market cap of $20.90 billion, a price-to-earnings ratio of 28.33, a PEG 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, topping analysts’ consensus estimates of $3.40 by $0.05. Laboratory Co. of America had a return on equity of 15.29% and a net margin of 5.73%. Analysts predict that Laboratory Co. of America Holdings will post 16.01 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 paid a dividend of $0.72 per share. The ex-dividend date is Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.15%. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 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.