Cornell Pochily Investment Advisors Inc. Has $673,000 Position in Laboratory Co. of America Holdings (NYSE:LH)

Cornell Pochily Investment Advisors Inc. raised its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 2.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,935 shares of the medical research company’s stock after purchasing an additional 72 shares during the quarter. Cornell Pochily Investment Advisors Inc.’s holdings in Laboratory Co. of America were worth $673,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. AE Wealth Management LLC acquired a new position in Laboratory Co. of America in the 2nd quarter valued at about $239,000. AXA S.A. boosted its holdings in shares of Laboratory Co. of America by 523.2% during the second quarter. AXA S.A. now owns 10,283 shares of the medical research company’s stock worth $2,093,000 after acquiring an additional 8,633 shares during the period. MBB Public Markets I LLC acquired a new position in shares of Laboratory Co. of America in the second quarter valued at approximately $1,180,000. Mackenzie Financial Corp increased its stake in shares of Laboratory Co. of America by 65.1% during the second quarter. Mackenzie Financial Corp now owns 13,384 shares of the medical research company’s stock worth $2,724,000 after purchasing an additional 5,275 shares during the period. Finally, Creative Planning lifted its holdings in Laboratory Co. of America by 14.7% during the 2nd quarter. Creative Planning now owns 12,854 shares of the medical research company’s stock worth $2,616,000 after purchasing an additional 1,646 shares during the last quarter. 95.94% of the stock is owned by institutional investors.

Insiders Place Their Bets

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 transaction, the executive vice president now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kerrii B. Anderson sold 1,000 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total value of $235,000.00. Following the completion of the sale, the director now owns 12,722 shares of the company’s stock, valued at $2,989,670. The trade was a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,572 shares of company stock valued at $5,915,209 in the last 90 days. Corporate insiders own 0.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LH. HSBC upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Piper Sandler lifted their price objective on shares of Laboratory Co. of America from $235.00 to $240.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Morgan Stanley increased their target price on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. StockNews.com downgraded shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Finally, Bank of America raised their price objective on Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $260.54.

Laboratory Co. of America Trading Up 0.8 %

LH opened at $246.29 on Monday. The company has a market cap of $20.60 billion, a P/E ratio of 47.64, a PEG ratio of 1.81 and a beta of 1.06. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66. The company’s 50 day moving average is $234.97 and its 200-day moving average is $227.36. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $247.99.

Laboratory Co. of America (NYSE:LH) last issued its earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share for the quarter, beating analysts’ consensus estimates of $3.48 by $0.02. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the business posted $3.38 earnings per share. Equities research analysts predict that Laboratory Co. of America Holdings will post 14.51 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.17%. Laboratory Co. of America’s dividend 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.