Forum Financial Management LP Boosts Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

Forum Financial Management LP lifted its position in Laboratory Co. of America Holdings (NYSE:LH) by 93.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,461 shares of the medical research company’s stock after purchasing an additional 1,192 shares during the quarter. Forum Financial Management LP’s holdings in Laboratory Co. of America were worth $564,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GeoWealth Management LLC grew its position in Laboratory Co. of America by 167.2% during the 4th quarter. GeoWealth Management LLC now owns 1,499 shares of the medical research company’s stock worth $344,000 after purchasing an additional 938 shares during the period. Fairfield Bush & CO. raised its position in Laboratory Co. of America by 3.7% during the fourth quarter. Fairfield Bush & CO. now owns 11,368 shares of the medical research company’s stock valued at $2,607,000 after acquiring an additional 409 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in Laboratory Co. of America by 52.2% in the 4th quarter. Canada Pension Plan Investment Board now owns 2,410 shares of the medical research company’s stock worth $553,000 after purchasing an additional 827 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Laboratory Co. of America by 2,278.0% during the 4th quarter. NewEdge Advisors LLC now owns 6,825 shares of the medical research company’s stock worth $1,565,000 after purchasing an additional 6,538 shares during the period. Finally, Guggenheim Capital LLC lifted its stake in shares of Laboratory Co. of America by 5.8% in the 4th quarter. Guggenheim Capital LLC now owns 7,408 shares of the medical research company’s stock valued at $1,699,000 after purchasing an additional 403 shares during the period. Institutional investors and hedge funds own 95.94% of the company’s stock.

Insider Activity

In related news, COO Mark S. Schroeder sold 5,339 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $249.23, for a total value of $1,330,638.97. Following the sale, the chief operating officer now directly owns 4,960 shares in the company, valued at approximately $1,236,180.80. The trade was a 51.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Adam H. Schechter sold 6,121 shares of the stock in a transaction dated Tuesday, February 11th. The stock was 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 directly owns 86,445 shares of the company’s stock, 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. In the last 90 days, insiders have sold 14,258 shares of company stock valued at $3,518,177. 0.84% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

LH has been the subject of a number of analyst reports. Jefferies Financial Group upped their price objective on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Evercore ISI upgraded Laboratory Co. of America from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $260.00 to $265.00 in a research report on Tuesday, January 7th. StockNews.com downgraded Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Friday. Redburn Atlantic began coverage on shares of Laboratory Co. of America in a report on Wednesday, April 2nd. They issued a “buy” rating and a $276.00 price target for the company. Finally, UBS Group decreased their price objective on shares of Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $268.77.

Laboratory Co. of America Price Performance

NYSE:LH opened at $217.25 on Friday. The stock has a 50 day moving average price of $237.54 and a 200 day moving average price of $234.84. The stock has a market cap of $18.18 billion, a PE ratio of 24.63, a P/E/G ratio of 1.71 and a beta of 0.99. 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 one year low of $191.97 and a one year high of $258.59.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 EPS 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%. Equities research analysts expect that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Thursday, May 29th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.33%. Laboratory Co. of America’s dividend payout ratio (DPR) is 32.65%.

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.