Foundations Investment Advisors LLC Boosts Stake in Laboratory Co. of America Holdings (NYSE:LH)

Foundations Investment Advisors LLC boosted its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 4.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,131 shares of the medical research company’s stock after purchasing an additional 53 shares during the period. Foundations Investment Advisors LLC’s holdings in Laboratory Co. of America were worth $259,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. SouthState Corp bought a new position in shares of Laboratory Co. of America during the 3rd quarter valued at approximately $28,000. Horizon Bancorp Inc. IN bought a new position in shares of Laboratory Co. of America in the third quarter worth approximately $29,000. Fortitude Family Office LLC increased its stake in shares of Laboratory Co. of America by 312.5% in 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 in the last quarter. Riverview Trust Co raised its position in shares of 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 valued at $38,000 after purchasing an additional 107 shares during the period. Finally, Concord Wealth Partners lifted its stake in shares of 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 valued at $38,000 after buying an additional 52 shares in the last quarter. Institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Trading Down 0.9 %

LH stock opened at $249.39 on Friday. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $258.59. The stock has a market capitalization of $20.86 billion, a price-to-earnings ratio of 48.24, a price-to-earnings-growth ratio of 1.83 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. The firm’s fifty day simple moving average is $235.82 and its two-hundred day simple moving average is $228.25.

Laboratory Co. of America Dividend Announcement

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 $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio (DPR) is currently 55.71%.

Analysts Set New Price Targets

A number of equities research analysts have commented on LH shares. HSBC raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. Bank of America boosted their price target on Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Evercore ISI upgraded shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $260.00 to $265.00 in a research report on Tuesday, January 7th. Barclays upped their target price on shares of Laboratory Co. of America from $234.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Finally, Morgan Stanley boosted their price target on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Laboratory Co. of America currently has an average rating of “Moderate Buy” and an average price target of $261.77.

Insiders Place Their Bets

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 stock was sold at an average price of $243.47, for a total transaction of $1,506,835.83. Following the completion of the sale, the chief executive officer now directly owns 87,441 shares in the company, valued at approximately $21,289,260.27. This trade represents a 6.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Der Vaart Sandra D. Van sold 1,000 shares of the company’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 owns 2,670 shares in the company, valued at approximately $639,251.40. The trade was a 27.25 % 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 over the last 90 days. Insiders own 0.85% of the company’s stock.

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.