Dorsey & Whitney Trust CO LLC Purchases 56 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Dorsey & Whitney Trust CO LLC lifted its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,296 shares of the medical research company’s stock after purchasing an additional 56 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Laboratory Co. of America were worth $756,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LH. SouthState Corp bought a new position in shares of Laboratory Co. of America during the third quarter worth $28,000. Fortitude Family Office LLC boosted its position in shares of Laboratory Co. of America by 312.5% during 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. Geneos Wealth Management Inc. boosted its position in shares of Laboratory Co. of America by 309.8% during the fourth quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock worth $39,000 after purchasing an additional 127 shares in the last quarter. Human Investing LLC bought a new position in shares of Laboratory Co. of America during the fourth quarter worth $39,000. Finally, Kennebec Savings Bank bought a new stake in Laboratory Co. of America in the 3rd quarter valued at $42,000. 95.94% of the stock is owned by institutional investors.

Laboratory Co. of America Stock Down 0.4 %

Laboratory Co. of America stock opened at $253.00 on Monday. The firm has a market capitalization of $21.18 billion, a PE ratio of 28.68, a P/E/G ratio of 1.71 and a beta of 1.12. The company’s 50-day moving average is $243.68 and its 200-day moving average is $233.76. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $258.59. 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 (NYSE:LH) last released its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 earnings per share 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%. Sell-side analysts anticipate that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Thursday, February 27th. Laboratory Co. of America’s payout ratio is 32.65%.

Wall Street Analysts Forecast Growth

LH has been the topic of several research reports. Morgan Stanley boosted their price objective on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Evercore ISI raised shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $260.00 to $265.00 in a research report on Tuesday, January 7th. StockNews.com raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. UBS Group cut their price objective on shares of Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Finally, Jefferies Financial Group boosted their price objective on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Three research 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $268.38.

Insider Buying and Selling

In related news, CEO Adam H. Schechter sold 6,121 shares of Laboratory Co. of America 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 completion of the sale, 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 filing with the SEC, which is accessible through the SEC website. Also, Director Kerrii B. Anderson sold 1,000 shares of Laboratory Co. of America stock in a transaction dated 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. The trade was a 7.29 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,500 shares of company stock valued at $3,577,572. Company 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.