ORG Partners LLC Acquires Shares of 2,298 Laboratory Co. of America Holdings (NYSE:LH)

ORG Partners LLC bought a new position in shares of Laboratory Co. of America Holdings (NYSE:LH) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,298 shares of the medical research company’s stock, valued at approximately $527,000.

A number of other hedge funds have also modified their holdings of LH. State Street Corp grew its stake in Laboratory Co. of America by 0.7% during the 3rd quarter. State Street Corp now owns 3,726,627 shares of the medical research company’s stock valued at $832,827,000 after acquiring an additional 25,469 shares in the last quarter. Diamond Hill Capital Management Inc. grew its position in shares of Laboratory Co. of America by 1.5% in the third quarter. Diamond Hill Capital Management Inc. now owns 1,978,686 shares of the medical research company’s stock valued at $442,197,000 after purchasing an additional 29,046 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Laboratory Co. of America by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,964,743 shares of the medical research company’s stock valued at $437,561,000 after purchasing an additional 13,298 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Laboratory Co. of America by 9.5% during the third quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company’s stock worth $431,405,000 after buying an additional 167,137 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Laboratory Co. of America by 16.4% during 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 buying an additional 263,105 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Laboratory Co. of America

In other news, 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 approximately $3,156,060. This represents a 6.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Adam H. Schechter sold 6,189 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $21,289,260.27. The trade was a 6.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,572 shares of company stock valued at $6,145,209 over the last 90 days. 0.85% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on LH shares. Evercore ISI raised Laboratory Co. of America from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $260.00 to $265.00 in a research note on Tuesday. Barclays lifted their target price on shares of Laboratory Co. of America from $234.00 to $249.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Piper Sandler increased their price target on shares of Laboratory Co. of America from $235.00 to $240.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Morgan Stanley upped their price objective on Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, HSBC raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Laboratory Co. of America currently has an average rating of “Moderate Buy” and a consensus target price of $260.54.

Laboratory Co. of America Price Performance

Shares of LH opened at $232.12 on Friday. The company has a market cap of $19.41 billion, a P/E ratio of 44.90, a PEG ratio of 1.91 and a beta of 1.06. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $247.99. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.66. The firm’s 50 day moving average price is $234.59 and its 200 day moving average price is $224.49.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings data on Thursday, October 24th. The medical research company reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.48 by $0.02. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same period last year, the firm earned $3.38 earnings per share. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, research analysts forecast that Laboratory Co. of America Holdings will post 14.52 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The company also recently announced 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. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.24%. Laboratory Co. of America’s payout ratio is 55.71%.

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.