Simon Quick Advisors LLC Makes New $464,000 Investment in Laboratory Co. of America Holdings (NYSE:LH)

Simon Quick Advisors LLC acquired a new position in shares of Laboratory Co. of America Holdings (NYSE:LH) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,022 shares of the medical research company’s stock, valued at approximately $464,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of Laboratory Co. of America by 0.7% in the third quarter. State Street Corp now owns 3,726,627 shares of the medical research company’s stock valued at $832,827,000 after buying an additional 25,469 shares in the last quarter. Diamond Hill Capital Management Inc. increased its holdings in Laboratory Co. of America by 1.5% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,978,686 shares of the medical research company’s stock worth $442,197,000 after acquiring an additional 29,046 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Laboratory Co. of America by 0.7% during the third quarter. Geode Capital Management LLC now owns 1,964,743 shares of the medical research company’s stock valued at $437,561,000 after purchasing an additional 13,298 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Laboratory Co. of America by 9.5% in the third quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company’s stock valued at $431,405,000 after purchasing an additional 167,137 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Laboratory Co. of America by 16.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,865,460 shares of the medical research company’s stock worth $416,893,000 after purchasing an additional 263,105 shares in the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Insider Activity

In other Laboratory Co. of America news, EVP Glenn A. Eisenberg sold 11,711 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $240.43, for a total value of $2,815,675.73. Following the completion of the transaction, the executive vice president now owns 31,289 shares of the company’s stock, valued at $7,522,814.27. This trade represents a 27.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Der Vaart Sandra D. Van sold 1,000 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $239.42, for a total value of $239,420.00. Following the sale, the executive vice president now directly owns 2,670 shares in the company, valued at $639,251.40. This represents a 27.25 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,572 shares of company stock valued at $5,915,209. 0.85% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on LH. Robert W. Baird boosted their price objective on Laboratory Co. of America from $282.00 to $289.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Piper Sandler raised their price objective on Laboratory Co. of America from $235.00 to $240.00 and gave the company a “neutral” rating in a report on Monday, October 28th. HSBC upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Barclays boosted their price target 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, Bank of America increased their price objective on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a report on Friday, December 13th. 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $260.54.

Laboratory Co. of America Stock Down 0.6 %

Shares of LH opened at $242.47 on Thursday. The company’s 50-day moving average price is $234.69 and its 200 day moving average price is $226.44. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month 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 firm has a market cap of $20.28 billion, a P/E ratio of 46.90, a price-to-earnings-growth ratio of 1.78 and a beta of 1.06.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings data on Thursday, October 24th. The medical research company reported $3.50 EPS for the quarter, topping the consensus estimate of $3.48 by $0.02. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. 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 prior year, the business posted $3.38 EPS. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, sell-side analysts forecast 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 declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.19%. Laboratory Co. of America’s dividend payout ratio is currently 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.