Inspire Advisors LLC Has $728,000 Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

Inspire Advisors LLC increased its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 10.2% during the 4th quarter, Holdings Channel reports. The fund owned 3,174 shares of the medical research company’s stock after buying an additional 295 shares during the quarter. Inspire Advisors LLC’s holdings in Laboratory Co. of America were worth $728,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Amundi lifted its holdings in shares of Laboratory Co. of America by 344.9% in the fourth quarter. Amundi now owns 1,123,409 shares of the medical research company’s stock valued at $263,161,000 after purchasing an additional 870,903 shares in the last quarter. FMR LLC grew its position in shares of Laboratory Co. of America by 17.0% in the 3rd quarter. FMR LLC now owns 1,586,397 shares of the medical research company’s stock valued at $354,528,000 after acquiring an additional 230,708 shares during the period. JPMorgan Chase & Co. increased its stake in shares of 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 purchasing an additional 167,137 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Laboratory Co. of America in the 4th quarter valued at about $33,779,000. Finally, Massachusetts Financial Services Co. MA lifted its stake in Laboratory Co. of America by 22.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 577,189 shares of the medical research company’s stock valued at $128,990,000 after purchasing an additional 105,443 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 Laboratory Co. of America news, Director Kerrii B. Anderson sold 500 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $255.63, for a total value of $127,815.00. Following the completion of the sale, the director now directly owns 13,166 shares of the company’s stock, valued at $3,365,624.58. This trade represents a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Adam H. Schechter sold 6,121 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $244.62, for a total value of $1,497,319.02. Following the transaction, the chief executive officer now directly owns 86,445 shares in the company, valued at $21,146,175.90. This represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,500 shares of company stock worth $3,577,572. 0.85% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on LH shares. Evercore ISI raised Laboratory Co. of America from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $260.00 to $265.00 in a research report on Tuesday, January 7th. UBS Group dropped their price objective 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. Morgan Stanley increased their target price on Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Jefferies Financial Group increased 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 report on Thursday, February 6th. Finally, Citigroup upgraded Laboratory Co. of America from a “neutral” rating to a “buy” rating and lifted their target price for the company from $250.00 to $300.00 in a research report on Tuesday, March 4th. Three 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $268.38.

Laboratory Co. of America Price Performance

Laboratory Co. of America stock opened at $239.44 on Wednesday. Laboratory Co. of America Holdings has a 52 week low of $191.97 and a 52 week high of $258.59. The company’s 50 day moving average price is $244.18 and its two-hundred day moving average price is $233.91. The stock has a market cap of $20.04 billion, a P/E ratio of 27.15, a P/E/G ratio of 1.71 and a beta of 1.12. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, topping analysts’ consensus estimates of $3.40 by $0.05. Laboratory Co. of America had a return on equity of 15.29% and a net margin of 5.73%. On average, equities analysts predict 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 declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be given 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 1.20%. Laboratory Co. of America’s payout ratio is currently 32.65%.

Laboratory Co. of America Company Profile

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.