Headlands Technologies LLC Purchases Shares of 834 Laboratory Co. of America Holdings (NYSE:LH)

Headlands Technologies LLC acquired a new position in shares of Laboratory Co. of America Holdings (NYSE:LH) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 834 shares of the medical research company’s stock, valued at approximately $191,000.

Several other hedge funds have also modified their holdings of the stock. Graney & King LLC purchased a new position in Laboratory Co. of America in the fourth quarter worth approximately $26,000. Fortitude Family Office LLC lifted its position in shares of Laboratory Co. of America by 312.5% during the 4th 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 last quarter. Geneos Wealth Management Inc. grew its stake in shares of 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 worth $39,000 after purchasing an additional 127 shares in the last quarter. Human Investing LLC purchased a new position in Laboratory Co. of America in the fourth quarter valued at $39,000. Finally, Heck Capital Advisors LLC acquired a new stake in Laboratory Co. of America in the fourth quarter valued at $44,000. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LH has been the subject of several analyst reports. Citigroup raised Laboratory Co. of America from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $250.00 to $300.00 in a research report on Tuesday, March 4th. Redburn Atlantic assumed coverage on Laboratory Co. of America in a report on Wednesday. They issued a “buy” rating and a $276.00 price target for the company. Morgan Stanley raised their price objective on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Barclays lowered their target price on shares of Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating for the company in a report on Friday, February 7th. Finally, Evercore ISI upgraded shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $260.00 to $265.00 in a research note on Tuesday, January 7th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $270.38.

Laboratory Co. of America Trading Down 4.7 %

Shares of LH stock opened at $222.49 on Friday. The company has a market capitalization of $18.62 billion, a P/E ratio of 25.23, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67. The business’s 50 day moving average is $243.63 and its two-hundred day moving average is $234.90. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $258.59.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 earnings per share for the quarter, beating analysts’ consensus estimates 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%. Equities analysts forecast that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Thursday, February 27th were given a $0.72 dividend. The ex-dividend date was Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a yield of 1.29%. Laboratory Co. of America’s payout ratio is currently 32.65%.

Insider Buying and Selling 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 shares were sold at an average price of $251.30, for a total transaction of $330,208.20. Following the sale, the executive vice president now owns 2,171 shares of the company’s stock, 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 available at this link. Also, CMO Amy B. Summy sold 226 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $250.40, for a total transaction of $56,590.40. Following the transaction, the chief marketing officer now owns 4,544 shares in the company, valued at $1,137,817.60. The trade was a 4.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,258 shares of company stock valued at $3,753,177. 0.85% of the stock is owned by corporate insiders.

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.