Thoroughbred Financial Services LLC Buys 503 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Thoroughbred Financial Services LLC raised its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 33.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,019 shares of the medical research company’s stock after purchasing an additional 503 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Laboratory Co. of America were worth $462,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Graney & King LLC acquired a new stake in Laboratory Co. of America during the 4th quarter worth about $26,000. Fortitude Family Office LLC grew 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 worth $30,000 after purchasing an additional 100 shares during the period. Geneos Wealth Management Inc. increased its holdings in 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 worth $39,000 after purchasing an additional 127 shares in the last quarter. Human Investing LLC acquired a new position in Laboratory Co. of America in the fourth quarter valued at approximately $39,000. Finally, Heck Capital Advisors LLC bought a new position in shares of Laboratory Co. of America during the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 95.94% of the company’s stock.

Laboratory Co. of America Trading Down 4.7 %

NYSE:LH opened at $222.49 on Monday. Laboratory Co. of America Holdings has a 52 week low of $191.97 and a 52 week high of $258.59. The firm has a 50-day moving average price of $243.63 and a two-hundred day moving average price of $234.95. The firm has a market cap of $18.62 billion, a price-to-earnings ratio of 25.23, a price-to-earnings-growth 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.

Laboratory Co. of America (NYSE:LH) last announced its earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) for the quarter, beating 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%. On average, equities analysts expect that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current fiscal 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 paid a $0.72 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $2.88 annualized dividend and a yield of 1.29%. Laboratory Co. of America’s payout ratio is 32.65%.

Wall Street Analyst Weigh In

LH has been the topic of a number of research reports. Citigroup upgraded shares of Laboratory Co. of America from a “neutral” rating to a “buy” rating and boosted their target price for the company from $250.00 to $300.00 in a research report on Tuesday, March 4th. Bank of America boosted their price objective on Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a report on Friday, December 13th. StockNews.com upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Sunday. Morgan Stanley boosted their price target on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Evercore ISI raised shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $260.00 to $265.00 in a research note on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Laboratory Co. of America has an average rating of “Moderate Buy” and an average target price of $270.38.

Insider Buying and Selling at Laboratory Co. of America

In other news, CEO Adam H. Schechter sold 6,121 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $244.62, for a total value of $1,497,319.02. Following the sale, the chief executive officer now owns 86,445 shares of the company’s stock, valued at $21,146,175.90. The trade was a 6.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CMO Amy B. Summy sold 226 shares of Laboratory Co. of America stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $250.40, for a total transaction of $56,590.40. Following the completion of the transaction, the chief marketing officer now owns 4,544 shares of the company’s stock, valued at $1,137,817.60. This represents a 4.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,258 shares of company stock valued at $3,753,177. 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.