Patriot Financial Group Insurance Agency LLC Has $226,000 Stake in Laboratory Co. of America Holdings (NYSE:LH)

Patriot Financial Group Insurance Agency LLC increased its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 5.9% during the fourth quarter, HoldingsChannel reports. The fund owned 986 shares of the medical research company’s stock after buying an additional 55 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Laboratory Co. of America were worth $226,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of LH. SouthState Corp bought a new stake in Laboratory Co. of America during the third quarter worth about $28,000. Horizon Bancorp Inc. IN bought a new position in shares of Laboratory Co. of America during the third quarter worth approximately $29,000. Fortitude Family Office LLC boosted its position in shares of Laboratory Co. of America by 312.5% in the fourth quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 100 shares during the period. Geneos Wealth Management Inc. raised its position in shares of Laboratory Co. of America by 309.8% in the fourth 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 in the last quarter. Finally, Riverview Trust Co increased its position in shares of Laboratory Co. of America by 172.6% in the third quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock worth $38,000 after purchasing an additional 107 shares during the period. 95.94% of the stock is owned by institutional investors and hedge funds.

Laboratory Co. of America Stock Performance

Shares of LH stock opened at $246.36 on Thursday. The company has a market capitalization of $20.61 billion, a price-to-earnings ratio of 47.65, a price-to-earnings-growth ratio of 1.81 and a beta of 1.06. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.44. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year high of $250.56. The company’s 50-day moving average is $235.43 and its 200 day moving average is $227.96.

Laboratory Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio (DPR) is currently 55.71%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on LH. Jefferies Financial Group restated a “buy” rating and set a $275.00 price objective (up from $265.00) on shares of Laboratory Co. of America in a research report on Tuesday, December 10th. Hsbc Global Res raised Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Barclays increased 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. Evercore ISI upgraded Laboratory Co. of America from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $260.00 to $265.00 in a report on Tuesday, January 7th. Finally, StockNews.com cut shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Laboratory Co. of America currently has a consensus rating of “Moderate Buy” and a consensus target price of $261.77.

Insider Activity at Laboratory Co. of America

In other news, EVP Glenn A. Eisenberg sold 11,711 shares of Laboratory Co. of America stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $240.43, for a total transaction of $2,815,675.73. Following the completion of the sale, the executive vice president now directly owns 31,289 shares in the company, valued at approximately $7,522,814.27. The trade was a 27.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Adam H. Schechter sold 6,189 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $243.47, for a total transaction of $1,506,835.83. Following the completion of 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,572 shares of company stock worth $5,915,209. 0.85% of the stock is owned by corporate insiders.

About Laboratory Co. of America

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.