Laboratory Co. of America Holdings (NYSE:LH) Shares Bought by Brooklyn Investment Group

Brooklyn Investment Group raised its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 12.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 651 shares of the medical research company’s stock after purchasing an additional 74 shares during the quarter. Brooklyn Investment Group’s holdings in Laboratory Co. of America were worth $149,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. SouthState Corp purchased a new position in Laboratory Co. of America in the 3rd quarter worth $28,000. Horizon Bancorp Inc. IN purchased a new position in shares of Laboratory Co. of America in the third quarter worth about $29,000. Fortitude Family Office LLC lifted its holdings in shares of Laboratory Co. of America by 312.5% during the fourth quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock worth $30,000 after purchasing an additional 100 shares during the period. Riverview Trust Co increased 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 during the period. Finally, Concord Wealth Partners raised its position 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 last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Trading Down 0.1 %

LH stock opened at $238.44 on Friday. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $247.99. The business’s 50-day moving average is $234.80 and its 200 day 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. The stock has a market cap of $19.94 billion, a price-to-earnings ratio of 46.12, a PEG ratio of 1.73 and a beta of 1.06.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.48 by $0.02. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same period in the previous year, the company posted $3.38 earnings per share. The business’s revenue was up 7.4% on a year-over-year basis. On average, sell-side analysts anticipate that Laboratory Co. of America Holdings will post 14.51 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The firm also recently declared 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 1.21%. Laboratory Co. of America’s dividend payout ratio is currently 55.71%.

Insider Buying and Selling

In other Laboratory Co. of America news, EVP Glenn A. Eisenberg sold 11,711 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $240.43, for a total value 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 $7,522,814.27. This represents a 27.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kerrii B. Anderson sold 1,000 shares of Laboratory Co. of America stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $235.00, for a total value of $235,000.00. Following the transaction, the director now owns 12,722 shares in the company, valued at approximately $2,989,670. This represents a 7.29 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,572 shares of company stock worth $6,145,209. 0.85% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on LH shares. Jefferies Financial Group reiterated a “buy” rating and issued a $275.00 price objective (up previously from $265.00) on shares of Laboratory Co. of America in a research note on Tuesday, December 10th. Bank of America increased their price target on Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. HSBC raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. Morgan Stanley lifted their price target on Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, Evercore ISI upgraded Laboratory Co. of America from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $260.00 to $265.00 in a research report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Laboratory Co. of America currently has an average rating of “Moderate Buy” and an average price target of $260.54.

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.