Daymark Wealth Partners LLC Purchases 61 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Daymark Wealth Partners LLC increased its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 0.8% during the fourth quarter, HoldingsChannel reports. The fund owned 7,995 shares of the medical research company’s stock after buying an additional 61 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Laboratory Co. of America were worth $1,833,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of LH. Select Equity Group L.P. acquired a new position in Laboratory Co. of America in the 2nd quarter valued at approximately $73,928,000. Allspring Global Investments Holdings LLC increased its holdings in Laboratory Co. of America by 16.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,865,460 shares of the medical research company’s stock valued at $416,893,000 after purchasing an additional 263,105 shares during the period. FMR LLC raised its position in Laboratory Co. of America by 17.0% during the 3rd quarter. FMR LLC now owns 1,586,397 shares of the medical research company’s stock worth $354,528,000 after purchasing an additional 230,708 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Laboratory Co. of America by 9.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company’s stock worth $431,405,000 after buying an additional 167,137 shares during the period. Finally, AQR Capital Management LLC grew its position in shares of Laboratory Co. of America by 95.5% in the 2nd quarter. AQR Capital Management LLC now owns 282,964 shares of the medical research company’s stock valued at $57,527,000 after buying an additional 138,211 shares during the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Insider Activity at Laboratory Co. of America

In other news, Director Kerrii B. Anderson sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total transaction of $235,000.00. Following the completion of the sale, the director now owns 12,722 shares in the company, valued at $2,989,670. This trade represents a 7.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Adam H. Schechter sold 6,189 shares of the 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 transaction, the chief executive officer now directly owns 87,441 shares of the company’s stock, valued at approximately $21,289,260.27. This trade represents a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,572 shares of company stock valued at $5,915,209. 0.85% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on LH. Bank of America upped their target price on Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a report on Friday, December 13th. 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 boosted their target price on shares of Laboratory Co. of America from $235.00 to $240.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Robert W. Baird increased their price target on Laboratory Co. of America from $282.00 to $289.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, Barclays boosted their price objective 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. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $260.54.

Laboratory Co. of America Price Performance

Shares of NYSE:LH opened at $242.47 on Thursday. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $247.99. 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 $20.28 billion, a PE ratio of 46.90, a price-to-earnings-growth ratio of 1.82 and a beta of 1.06. The stock’s fifty day simple moving average is $234.69 and its two-hundred day simple moving average is $226.44.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share for the quarter, topping the consensus estimate of $3.48 by $0.02. The business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.26 billion. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the previous year, the company earned $3.38 earnings per share. As a group, analysts forecast 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 announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.19%. Laboratory Co. of America’s dividend 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.