Oppenheimer Asset Management Inc. Buys 45 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Oppenheimer Asset Management Inc. raised its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 0.4% in the fourth quarter, HoldingsChannel reports. The fund owned 12,780 shares of the medical research company’s stock after acquiring an additional 45 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Laboratory Co. of America were worth $2,931,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in LH. SouthState Corp acquired a new stake in Laboratory Co. of America in the 3rd quarter worth about $28,000. Fortitude Family Office LLC increased its holdings in shares of 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 worth $30,000 after purchasing an additional 100 shares during the period. Geneos Wealth Management Inc. raised its position 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 valued at $39,000 after buying an additional 127 shares in the last quarter. Human Investing LLC bought a new stake in shares of Laboratory Co. of America in the fourth quarter valued at approximately $39,000. Finally, Kennebec Savings Bank acquired a new stake in Laboratory Co. of America during the third quarter worth approximately $42,000. Institutional investors and hedge funds own 95.94% of the company’s stock.

Laboratory Co. of America Stock Performance

NYSE LH opened at $251.45 on Friday. The firm’s fifty day moving average price is $241.20 and its two-hundred day moving average price is $232.70. The stock has a market cap of $21.03 billion, a PE ratio of 28.51, a PEG ratio of 1.71 and a beta of 1.07. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $258.59.

Laboratory Co. of America (NYSE:LH) last issued 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%. On average, equities analysts expect that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be paid 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 dividend payout ratio is currently 32.65%.

Insider Activity at Laboratory Co. of America

In other news, EVP Der Vaart Sandra D. Van sold 1,314 shares of the 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 completion of the sale, the executive vice president now owns 2,171 shares of the company’s stock, valued at approximately $545,572.30. This represents a 37.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Adam H. Schechter sold 6,121 shares of Laboratory Co. of America stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 86,445 shares in the company, valued at approximately $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 21,372 shares of company stock worth $5,175,793 in the last quarter. 0.85% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. UBS Group dropped their price objective on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Piper Sandler boosted their price target 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. Evercore ISI upgraded shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $260.00 to $265.00 in a research note on Tuesday, January 7th. StockNews.com raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Finally, Bank of America upped their price target on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $265.75.

Laboratory Co. of America Profile

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