Patriot Financial Group Insurance Agency LLC Grows Position in Laboratory Co. of America Holdings (NYSE:LH)

Patriot Financial Group Insurance Agency LLC boosted its position in Laboratory Co. of America Holdings (NYSE:LH) by 5.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 986 shares of the medical research company’s stock after purchasing 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 have also made changes to their positions in LH. SouthState Corp acquired a new position in Laboratory Co. of America in the 3rd quarter valued at $28,000. Horizon Bancorp Inc. IN acquired a new stake in Laboratory Co. of America during the 3rd quarter worth approximately $29,000. Fortitude Family Office LLC lifted its holdings in shares of Laboratory Co. of America by 312.5% during the 4th 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 in the last quarter. Geneos Wealth Management Inc. boosted 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 worth $39,000 after buying an additional 127 shares during the period. Finally, Riverview Trust Co lifted its holdings in Laboratory Co. of America by 172.6% in the 3rd quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock worth $38,000 after buying an additional 107 shares in the last quarter. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Hsbc Global Res raised Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. HSBC raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. Robert W. Baird increased their target price on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Bank of America lifted their price target 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. Finally, StockNews.com lowered Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Laboratory Co. of America has a consensus rating of “Moderate Buy” and a consensus target price of $261.77.

Insider Transactions at Laboratory Co. of America

In other news, CMO Amy B. Summy sold 3,672 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $238.91, for a total transaction of $877,277.52. Following the sale, the chief marketing officer now owns 4,318 shares in the company, valued at approximately $1,031,613.38. This represents a 45.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Der Vaart Sandra D. Van sold 1,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $239.42, for a total transaction of $239,420.00. Following the completion of the transaction, the executive vice president now directly owns 2,670 shares of the company’s stock, valued at approximately $639,251.40. This represents a 27.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,572 shares of company stock valued at $5,915,209. 0.85% of the stock is owned by corporate insiders.

Laboratory Co. of America Stock Down 0.9 %

Shares of LH stock opened at $246.36 on Thursday. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $250.56. The stock has a 50 day moving average of $235.43 and a 200-day moving average of $227.96. The firm has a market cap of $20.61 billion, a PE ratio of 47.65, a price-to-earnings-growth ratio of 1.81 and a beta of 1.06. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.66.

Laboratory Co. of America Dividend Announcement

The business 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 $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Thursday, February 27th. Laboratory Co. of America’s payout ratio is presently 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.