Laboratory Co. of America Holdings (NYSE:LH) Shares Acquired by Oak Harvest Investment Services

Oak Harvest Investment Services grew its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 25.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,000 shares of the medical research company’s stock after purchasing an additional 1,000 shares during the period. Oak Harvest Investment Services’ holdings in Laboratory Co. of America were worth $1,147,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC boosted its holdings in shares of Laboratory Co. of America by 16.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,865,460 shares of the medical research company’s stock worth $416,893,000 after buying an additional 263,105 shares during the period. FMR LLC lifted 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 in the last quarter. JPMorgan Chase & Co. boosted 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 worth $431,405,000 after purchasing an additional 167,137 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Laboratory Co. of America by 22.4% during 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 period. Finally, River Road Asset Management LLC raised its stake in Laboratory Co. of America by 37.8% during the 3rd quarter. River Road Asset Management LLC now owns 284,097 shares of the medical research company’s stock valued at $63,490,000 after purchasing an additional 77,921 shares during the period. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Insider Activity at Laboratory Co. of America

In related news, Director Kerrii B. Anderson sold 1,000 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $235.00, for a total value of $235,000.00. Following the completion of the transaction, the director now owns 12,722 shares of the company’s stock, valued at $2,989,670. The trade was a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Adam H. Schechter sold 6,189 shares of Laboratory Co. of America stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $243.47, for a total transaction of $1,506,835.83. Following the completion of the transaction, the chief executive officer now directly owns 87,441 shares in the company, valued at $21,289,260.27. This trade represents a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,572 shares of company stock worth $5,915,209. Corporate insiders own 0.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on LH. HSBC upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. Hsbc Global Res raised shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Piper Sandler increased their target price on shares of Laboratory Co. of America from $235.00 to $240.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Barclays boosted 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 report on Friday, October 25th. Finally, Morgan Stanley increased their price objective on Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $261.77.

Laboratory Co. of America Trading Up 2.1 %

Shares of Laboratory Co. of America stock opened at $251.39 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.44 and a quick ratio of 1.30. The business has a fifty day simple moving average of $235.60 and a two-hundred day simple moving average of $228.09. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $258.59. The company has a market capitalization of $21.03 billion, a price-to-earnings ratio of 48.62, a P/E/G ratio of 1.83 and a beta of 1.06.

Laboratory Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be paid a $0.72 dividend. The ex-dividend date is Thursday, February 27th. This represents a $2.88 annualized dividend and a yield of 1.15%. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 55.71%.

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.