Carmel Capital Partners LLC Raises Position in Laboratory Co. of America Holdings (NYSE:LH)

Carmel Capital Partners LLC increased its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 9.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,605 shares of the medical research company’s stock after purchasing an additional 547 shares during the quarter. Carmel Capital Partners LLC’s holdings in Laboratory Co. of America were worth $1,515,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new stake in Laboratory Co. of America in the 4th quarter worth $33,779,000. Arizona State Retirement System grew its holdings in Laboratory Co. of America by 1.0% in the 4th quarter. Arizona State Retirement System now owns 24,388 shares of the medical research company’s stock worth $5,593,000 after acquiring an additional 237 shares during the last quarter. Verdence Capital Advisors LLC grew its holdings in Laboratory Co. of America by 124.5% in the 4th quarter. Verdence Capital Advisors LLC now owns 4,296 shares of the medical research company’s stock worth $985,000 after acquiring an additional 2,382 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Laboratory Co. of America in the 4th quarter worth $16,512,000. Finally, Assetmark Inc. grew its holdings in Laboratory Co. of America by 13.9% in the 4th quarter. Assetmark Inc. now owns 57,192 shares of the medical research company’s stock worth $13,115,000 after acquiring an additional 6,968 shares during the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on LH shares. Piper Sandler lifted their target price on shares of 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 lifted their target price on shares of 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. Citigroup raised shares of Laboratory Co. of America from a “neutral” rating to a “buy” rating and lifted their target price for the company from $250.00 to $300.00 in a research note on Tuesday. UBS Group cut their target price on shares of Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Finally, Jefferies Financial Group lifted their target price on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $268.38.

Insider Transactions at Laboratory Co. of America

In related news, Director Kerrii B. Anderson sold 1,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total transaction of $235,000.00. Following the transaction, the director now owns 12,722 shares in the company, valued at $2,989,670. This represents a 7.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Adam H. Schechter sold 6,121 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $244.62, for a total transaction of $1,497,319.02. Following the transaction, the chief executive officer now owns 86,445 shares in the company, valued at approximately $21,146,175.90. This trade represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,000 shares of company stock worth $3,449,757. Corporate insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Down 1.0 %

Shares of Laboratory Co. of America stock opened at $254.31 on Thursday. The company has a 50-day simple moving average of $242.77 and a two-hundred day simple moving average of $233.34. The stock has a market capitalization of $21.29 billion, a PE ratio of 28.83, a price-to-earnings-growth ratio of 1.71 and a beta of 1.07. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $258.59. 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 (NYSE:LH) last issued its earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.40 by $0.05. Laboratory Co. of America had a net margin of 5.73% and a return on equity of 15.29%. On average, analysts anticipate 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 announced 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. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $2.88 annualized dividend and a dividend yield of 1.13%. Laboratory Co. of America’s dividend payout ratio is presently 32.65%.

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.