Clifford Swan Investment Counsel LLC Boosts Position in Laboratory Co. of America Holdings (NYSE:LH)

Clifford Swan Investment Counsel LLC raised its stake in Laboratory Co. of America Holdings (NYSE:LH) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 97,996 shares of the medical research company’s stock after acquiring an additional 1,614 shares during the quarter. Clifford Swan Investment Counsel LLC owned approximately 0.12% of Laboratory Co. of America worth $22,473,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. SouthState Corp acquired a new position in shares of Laboratory Co. of America in the third quarter worth $28,000. Fortitude Family Office LLC raised its holdings in shares of Laboratory Co. of America by 312.5% in the fourth quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock worth $30,000 after acquiring an additional 100 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Laboratory Co. of America by 309.8% in the fourth quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock worth $39,000 after acquiring an additional 127 shares during the last quarter. Human Investing LLC acquired a new position in Laboratory Co. of America in the fourth quarter valued at $39,000. Finally, Kennebec Savings Bank acquired a new position in Laboratory Co. of America in the third quarter valued at $42,000. 95.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LH has been the subject of several analyst reports. StockNews.com upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Piper Sandler upped their target price on Laboratory Co. of America from $240.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Bank of America upped their target price on Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Evercore ISI upgraded Laboratory Co. of America from an “in-line” rating to an “outperform” rating and upped their target price for the company from $260.00 to $265.00 in a research note on Tuesday, January 7th. Finally, UBS Group dropped their target price on 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. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $265.75.

Insider Transactions at Laboratory Co. of America

In related news, CMO Amy B. Summy sold 226 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $250.40, for a total value of $56,590.40. Following the completion of the transaction, the chief marketing officer now owns 4,544 shares of the company’s stock, valued at approximately $1,137,817.60. This represents a 4.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Glenn A. Eisenberg sold 11,711 shares of the stock in a transaction dated Monday, December 2nd. The shares were 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 directly 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 disclosure for this sale can be found here. Insiders sold 21,372 shares of company stock valued at $5,175,793 over the last quarter. Company insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Performance

Shares of NYSE:LH opened at $251.45 on Friday. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $258.59. The business has a 50-day moving average of $241.20 and a two-hundred day moving average of $232.70. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30. The firm has a market capitalization of $21.03 billion, a PE ratio of 28.51, a P/E/G ratio of 1.71 and a beta of 1.07.

Laboratory Co. of America (NYSE:LH) last issued its earnings results 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 return on equity of 15.29% and a net margin of 5.73%. As a group, research analysts forecast that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Thursday, February 27th. Laboratory Co. of America’s payout ratio is 32.65%.

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.