Laboratory Co. of America Holdings (NYSE:LH) Shares Acquired by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp increased its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 0.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 93,317 shares of the medical research company’s stock after acquiring an additional 387 shares during the quarter. Peapack Gladstone Financial Corp owned approximately 0.11% of Laboratory Co. of America worth $21,399,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of LH. Empowered Funds LLC grew its stake in shares of Laboratory Co. of America by 0.5% in the 4th quarter. Empowered Funds LLC now owns 8,025 shares of the medical research company’s stock valued at $1,840,000 after buying an additional 43 shares during the period. SP Asset Management LLC grew its position in Laboratory Co. of America by 0.3% in the fourth quarter. SP Asset Management LLC now owns 15,186 shares of the medical research company’s stock worth $3,483,000 after acquiring an additional 43 shares during the period. Oppenheimer Asset Management Inc. increased its stake in Laboratory Co. of America by 0.4% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 12,780 shares of the medical research company’s stock worth $2,931,000 after acquiring an additional 45 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in Laboratory Co. of America by 0.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,194 shares of the medical research company’s stock valued at $1,650,000 after purchasing an additional 46 shares during the period. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in shares of Laboratory Co. of America by 16.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 354 shares of the medical research company’s stock valued at $81,000 after purchasing an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on LH. Barclays reduced their price objective on shares of Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating on the stock in a report on Friday, February 7th. Morgan Stanley upped their price objective on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Citigroup upgraded shares of Laboratory Co. of America from a “neutral” rating to a “buy” rating and lifted their target price for the company from $250.00 to $300.00 in a report on Tuesday, March 4th. Piper Sandler upped their price target on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Finally, Jefferies Financial Group lifted their price objective on Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Three equities research 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $270.38.

Insider Activity

In related news, EVP Der Vaart Sandra D. Van sold 1,314 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $251.30, for a total value of $330,208.20. Following the transaction, the executive vice president now directly owns 2,171 shares of the company’s stock, valued at $545,572.30. This trade represents a 37.70 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Amy B. Summy sold 758 shares of the business’s stock in a transaction on Friday, March 28th. The shares were sold at an average price of $231.67, for a total transaction of $175,605.86. Following the completion of the sale, the executive vice president now directly owns 5,302 shares of the company’s stock, valued at approximately $1,228,314.34. This trade represents a 12.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,258 shares of company stock worth $3,753,177. 0.85% of the stock is currently owned by insiders.

Laboratory Co. of America Stock Performance

Shares of Laboratory Co. of America stock opened at $222.49 on Friday. The business has a 50-day simple moving average of $243.63 and a 200-day simple moving average of $234.90. The company has a debt-to-equity ratio of 0.67, 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 $258.59. The company has a market cap of $18.62 billion, a PE ratio of 25.23, a P/E/G ratio of 1.71 and a beta of 1.12.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, beating analysts’ consensus estimates of $3.40 by $0.05. Laboratory Co. of America had a net margin of 5.73% and a return on equity of 15.29%. On average, equities research analysts forecast that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th were given a dividend of $0.72 per share. The ex-dividend date was Thursday, February 27th. This represents a $2.88 annualized dividend and a dividend yield of 1.29%. Laboratory Co. of America’s dividend payout ratio is currently 32.65%.

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.