AMI Asset Management Corp Has $46.87 Million Holdings in Laboratory Co. of America Holdings (NYSE:LH)

AMI Asset Management Corp decreased its position in Laboratory Co. of America Holdings (NYSE:LH) by 2.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 204,372 shares of the medical research company’s stock after selling 4,807 shares during the quarter. Laboratory Co. of America comprises approximately 2.5% of AMI Asset Management Corp’s investment portfolio, making the stock its 16th biggest position. AMI Asset Management Corp’s holdings in Laboratory Co. of America were worth $46,867,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. SouthState Corp acquired a new position in shares of Laboratory Co. of America during the 3rd quarter worth approximately $28,000. Horizon Bancorp Inc. IN bought a new stake in shares of Laboratory Co. of America in the third quarter valued at approximately $29,000. Fortitude Family Office LLC grew its position in 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 buying an additional 100 shares in the last quarter. Riverview Trust Co increased its stake 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 worth $38,000 after acquiring an additional 107 shares during the period. Finally, Concord Wealth Partners raised its holdings in Laboratory Co. of America by 43.3% in the 3rd quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock valued at $38,000 after acquiring an additional 52 shares in the last quarter. Institutional investors own 95.94% of the company’s stock.

Insider Activity at Laboratory Co. of America

In other news, CEO Adam H. Schechter sold 6,189 shares of Laboratory Co. of America stock in a transaction on Monday, November 11th. The shares were sold at an average price of $243.47, for a total value of $1,506,835.83. Following the completion of the sale, the chief executive officer now owns 87,441 shares in the company, valued at $21,289,260.27. The trade was a 6.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kerrii B. Anderson sold 1,000 shares of the 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 in the company, valued at approximately $3,156,060. This represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,572 shares of company stock worth $6,145,209 over the last quarter. Company insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Down 0.1 %

Shares of NYSE:LH opened at $238.44 on Tuesday. The business has a fifty day simple moving average of $234.80 and a 200 day simple moving average of $225.91. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $247.99. The firm has a market cap of $19.94 billion, a P/E ratio of 46.12, a P/E/G ratio of 1.78 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 (NYSE:LH) last posted its quarterly earnings data on Thursday, October 24th. The medical research company reported $3.50 EPS for the quarter, topping analysts’ consensus estimates of $3.48 by $0.02. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.26 billion. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm earned $3.38 earnings per share. Analysts predict that Laboratory Co. of America Holdings will post 14.51 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The company 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 dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.21%. Laboratory Co. of America’s dividend payout ratio is presently 55.71%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on LH shares. Barclays boosted their price target on Laboratory Co. of America from $234.00 to $249.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Hsbc Global Res upgraded shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Piper Sandler upped their target price on 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 raised their price objective on Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $275.00 price target (up from $265.00) on shares of Laboratory Co. of America in a research note on Tuesday, December 10th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.