Brandes Investment Partners LP Acquires 67,002 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Brandes Investment Partners LP increased its position in Laboratory Co. of America Holdings (NYSE:LH) by 13.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 568,724 shares of the medical research company’s stock after purchasing an additional 67,002 shares during the quarter. Laboratory Co. of America makes up about 1.5% of Brandes Investment Partners LP’s investment portfolio, making the stock its 22nd largest holding. Brandes Investment Partners LP owned about 0.68% of Laboratory Co. of America worth $130,420,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SouthState Corp purchased a new position in shares of Laboratory Co. of America in the 3rd quarter valued at approximately $28,000. Fortitude Family Office LLC raised its stake in 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 valued at $30,000 after buying an additional 100 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in 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 valued at $39,000 after buying an additional 127 shares during the last quarter. Human Investing LLC purchased a new position in Laboratory Co. of America during the fourth quarter valued at $39,000. Finally, True Wealth Design LLC raised its stake in Laboratory Co. of America by 3,660.0% during the third quarter. True Wealth Design LLC now owns 188 shares of the medical research company’s stock valued at $42,000 after buying an additional 183 shares during the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Stock Performance

NYSE:LH opened at $239.80 on Friday. The firm has a market capitalization of $20.07 billion, a PE ratio of 27.19, a P/E/G ratio of 1.71 and a beta of 1.12. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44. The stock has a 50-day simple moving average of $244.69 and a two-hundred day simple moving average of $234.01. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $258.59.

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 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%. Analysts forecast that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th were paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend was Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio (DPR) is 32.65%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LH. Citigroup upgraded Laboratory Co. of America from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $250.00 to $300.00 in a research note on Tuesday, March 4th. Barclays decreased their price target on Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating for the company in a research note on Friday, February 7th. Bank of America boosted their price target on Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Piper Sandler lifted their price objective on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Finally, Evercore ISI raised Laboratory Co. of America from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $260.00 to $265.00 in a report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $268.38.

Insider Transactions at Laboratory Co. of America

In related news, EVP Der Vaart Sandra D. Van sold 1,314 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $251.30, for a total value of $330,208.20. Following the sale, the executive vice president now directly owns 2,171 shares in the company, valued at approximately $545,572.30. The trade was a 37.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adam H. Schechter sold 6,121 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $244.62, for a total value of $1,497,319.02. Following the completion of the sale, the chief executive officer now owns 86,445 shares in the company, valued at $21,146,175.90. This represents a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,500 shares of company stock valued at $3,577,572 over the last 90 days. Company insiders own 0.85% of the company’s stock.

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.