Forte Capital LLC ADV Buys 89 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Forte Capital LLC ADV lifted its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 0.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,227 shares of the medical research company’s stock after purchasing an additional 89 shares during the quarter. Laboratory Co. of America comprises 1.4% of Forte Capital LLC ADV’s investment portfolio, making the stock its 22nd biggest holding. Forte Capital LLC ADV owned about 0.06% of Laboratory Co. of America worth $12,435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. State Street Corp lifted its position in Laboratory Co. of America by 0.7% in the 3rd quarter. State Street Corp now owns 3,726,627 shares of the medical research company’s stock valued at $832,827,000 after acquiring an additional 25,469 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its position 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 valued at $442,197,000 after acquiring an additional 29,046 shares in the last quarter. Geode Capital Management LLC increased its stake in Laboratory Co. of America by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,964,743 shares of the medical research company’s stock valued at $437,561,000 after buying an additional 13,298 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Laboratory Co. of America by 9.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company’s stock valued at $431,405,000 after buying an additional 167,137 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Laboratory Co. of America by 2.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,916,505 shares of the medical research company’s stock valued at $437,357,000 after buying an additional 51,045 shares during the last quarter. Institutional investors own 95.94% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on LH. Piper Sandler increased their price objective on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Evercore ISI upgraded shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $260.00 to $265.00 in a research note on Tuesday, January 7th. Jefferies Financial Group raised their price target on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Robert W. Baird raised their price target on shares of 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. Finally, UBS Group decreased their price target on shares of Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $265.31.

Insider Transactions at Laboratory Co. of America

In other news, EVP Glenn A. Eisenberg sold 11,711 shares of Laboratory Co. of America stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $240.43, for a total transaction of $2,815,675.73. Following the completion of the sale, the executive vice president now directly owns 31,289 shares of the company’s stock, valued at approximately $7,522,814.27. The trade was a 27.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 transaction of $235,000.00. Following the sale, the director now directly owns 12,722 shares of the company’s stock, valued at $2,989,670. This represents a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,832 shares of company stock valued at $4,788,995. Insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Up 0.5 %

Shares of NYSE:LH opened at $249.15 on Friday. The firm has a fifty day moving average price of $238.23 and a two-hundred day moving average price of $231.42. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year high of $258.59. The company has a market cap of $20.84 billion, a price-to-earnings ratio of 28.25, a PEG ratio of 1.69 and a beta of 1.07.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, beating the consensus estimate of $3.40 by $0.05. Laboratory Co. of America had a net margin of 5.73% and a return on equity of 15.29%. Analysts anticipate that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio is currently 32.65%.

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.