1,118 Shares in Laboratory Co. of America Holdings (NYSE:LH) Purchased by Pinnacle Bancorp Inc.

Pinnacle Bancorp Inc. acquired a new position in shares of Laboratory Co. of America Holdings (NYSE:LH) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 1,118 shares of the medical research company’s stock, valued at approximately $256,000.

Other hedge funds also recently bought and sold shares of the company. SouthState Corp purchased a new position in shares of Laboratory Co. of America during the third quarter valued at $28,000. Horizon Bancorp Inc. IN acquired a new stake in Laboratory Co. of America during the 3rd quarter worth about $29,000. Fortitude Family Office LLC grew its stake in Laboratory Co. of America by 312.5% during the 4th quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 100 shares in the last quarter. Riverview Trust Co increased its holdings in shares of Laboratory Co. of America by 172.6% in the 3rd quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock valued at $38,000 after purchasing an additional 107 shares during the period. Finally, Concord Wealth Partners lifted its position in shares of Laboratory Co. of America by 43.3% in the third quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock worth $38,000 after purchasing an additional 52 shares in the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Robert W. Baird upped their price objective on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. HSBC raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Evercore ISI upgraded Laboratory Co. of America from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $260.00 to $265.00 in a research note on Tuesday, January 7th. Barclays raised their price target on Laboratory Co. of America from $234.00 to $249.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Finally, Hsbc Global Res raised Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Laboratory Co. of America currently has an average rating of “Moderate Buy” and an average price target of $260.54.

Laboratory Co. of America Price Performance

NYSE LH opened at $237.20 on Thursday. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $247.99. The company has a fifty day simple moving average of $234.84 and a 200 day simple moving average of $225.18. 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 company has a market cap of $19.84 billion, a P/E ratio of 45.88, a P/E/G ratio of 1.73 and a beta of 1.06.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.48 by $0.02. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the company earned $3.38 earnings per share. On average, sell-side analysts predict that Laboratory Co. of America Holdings will post 14.51 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.21%. Laboratory Co. of America’s dividend payout ratio is currently 55.71%.

Insider Transactions at Laboratory Co. of America

In other Laboratory Co. of America news, EVP Glenn A. Eisenberg sold 11,711 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was 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 represents a 27.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kerrii B. Anderson sold 1,000 shares of Laboratory Co. of America stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $230.00, for a total value of $230,000.00. Following the sale, the director now directly owns 13,722 shares in the company, valued at $3,156,060. The trade was a 6.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,572 shares of company stock worth $6,145,209 over the last three months. 0.85% of the stock is currently owned by insiders.

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.