Integrated Investment Consultants LLC Purchases New Position in Laboratory Co. of America Holdings (NYSE:LH)

Integrated Investment Consultants LLC acquired a new position in shares of Laboratory Co. of America Holdings (NYSE:LH) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 1,025 shares of the medical research company’s stock, valued at approximately $235,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. SouthState Corp acquired a new position in Laboratory Co. of America during the 3rd quarter worth approximately $28,000. Horizon Bancorp Inc. IN acquired a new position in shares of Laboratory Co. of America during the third quarter worth $29,000. Fortitude Family Office LLC boosted its stake 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 purchasing an additional 100 shares during the period. Riverview Trust Co grew its holdings in Laboratory Co. of America by 172.6% during the 3rd quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock valued at $38,000 after purchasing an additional 107 shares in the last quarter. Finally, Concord Wealth Partners increased 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 worth $38,000 after buying an additional 52 shares during the period. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Insider Activity

In other news, Director Kerrii B. Anderson sold 1,000 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $230.00, for a total transaction of $230,000.00. Following the transaction, the director now directly owns 13,722 shares of the company’s stock, valued at approximately $3,156,060. This trade represents a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Glenn A. Eisenberg sold 11,711 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was 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 of the company’s stock, valued at $7,522,814.27. The trade was a 27.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,572 shares of company stock valued at $6,145,209. Insiders own 0.85% of the company’s stock.

Analysts Set New Price Targets

LH has been the subject of a number of analyst reports. Hsbc Global Res raised shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Evercore ISI raised Laboratory Co. of America from an “in-line” rating to an “outperform” rating and increased their price target for the company from $260.00 to $265.00 in a report on Tuesday, January 7th. StockNews.com downgraded Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Jefferies Financial Group reiterated a “buy” rating and set a $275.00 target price (up from $265.00) on shares of Laboratory Co. of America in a research note on Tuesday, December 10th. Finally, Morgan Stanley lifted their price target on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Four investment 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $260.54.

Laboratory Co. of America Trading Down 0.1 %

Shares of NYSE LH opened at $238.44 on Friday. The company has a market cap of $19.94 billion, a price-to-earnings ratio of 46.12, a price-to-earnings-growth ratio of 1.73 and a beta of 1.06. The stock’s 50 day simple moving average is $234.80 and its 200 day simple moving average is $225.76. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $247.99.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings results 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. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.26 billion. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.38 earnings per share. Equities research analysts expect that Laboratory Co. of America Holdings will post 14.51 EPS for the current year.

Laboratory Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders 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 1.21%. Laboratory Co. of America’s payout ratio is currently 55.71%.

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.