Verdence Capital Advisors LLC Boosts Position in Laboratory Co. of America Holdings (NYSE:LH)

Verdence Capital Advisors LLC boosted its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 124.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,296 shares of the medical research company’s stock after buying an additional 2,382 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Laboratory Co. of America were worth $985,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of LH. Farther Finance Advisors LLC raised its position in Laboratory Co. of America by 17.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,385 shares of the medical research company’s stock worth $310,000 after buying an additional 208 shares during the last quarter. Van ECK Associates Corp raised its position in Laboratory Co. of America by 5.3% during the 3rd quarter. Van ECK Associates Corp now owns 13,868 shares of the medical research company’s stock worth $3,050,000 after buying an additional 694 shares during the last quarter. National Pension Service raised its position in Laboratory Co. of America by 1.5% during the 3rd quarter. National Pension Service now owns 159,040 shares of the medical research company’s stock worth $35,542,000 after buying an additional 2,404 shares during the last quarter. Sentry Investment Management LLC purchased a new position in Laboratory Co. of America during the 3rd quarter worth approximately $88,000. Finally, Crestwood Advisors Group LLC purchased a new position in Laboratory Co. of America during the 3rd quarter worth approximately $209,000. 95.94% of the stock is owned by hedge funds and other institutional investors.

Laboratory Co. of America Price Performance

Shares of NYSE LH opened at $254.31 on Thursday. 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 debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44. The firm has a fifty day moving average of $242.77 and a 200 day moving average of $233.34. The firm has a market cap of $21.29 billion, a PE ratio of 28.83, a PEG ratio of 1.71 and a beta of 1.07.

Laboratory Co. of America (NYSE:LH) last announced its earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) for the quarter, topping 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%. As a group, research analysts predict that Laboratory Co. of America Holdings will post 16.01 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. Shareholders of record on Thursday, February 27th will be paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $2.88 annualized dividend and a yield of 1.13%. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 32.65%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. StockNews.com raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Evercore ISI raised shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $260.00 to $265.00 in a report on Tuesday, January 7th. Jefferies Financial Group lifted their target price on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Finally, Piper Sandler lifted their target price on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Three research 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $268.38.

Insiders Place Their Bets

In other news, CEO Adam H. Schechter sold 6,121 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $244.62, for a total transaction of $1,497,319.02. Following the transaction, the chief executive officer now owns 86,445 shares of the company’s stock, valued at approximately $21,146,175.90. The trade was a 6.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kerrii B. Anderson sold 1,000 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total transaction of $235,000.00. Following the transaction, the director now directly owns 12,722 shares in the company, valued at approximately $2,989,670. The trade was a 7.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,000 shares of company stock valued at $3,449,757 in the last 90 days. 0.85% of the stock is owned by insiders.

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.