Apollon Wealth Management LLC acquired a new position in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,085 shares of the medical research company's stock, valued at approximately $249,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp increased its stake in shares of Laboratory Co. of America by 0.7% in the 3rd quarter. State Street Corp now owns 3,726,627 shares of the medical research company's stock valued at $832,827,000 after acquiring an additional 25,469 shares during the last quarter. Diamond Hill Capital Management Inc. increased its stake in shares of Laboratory Co. of America by 1.5% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,978,686 shares of the medical research company's stock valued at $442,197,000 after acquiring an additional 29,046 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Laboratory Co. of America by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,964,743 shares of the medical research company's stock valued at $437,561,000 after acquiring an additional 13,298 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Laboratory Co. of America by 9.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company's stock valued at $431,405,000 after acquiring an additional 167,137 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Laboratory Co. of America by 16.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,865,460 shares of the medical research company's stock valued at $416,893,000 after acquiring an additional 263,105 shares during the last quarter. 95.94% of the stock is owned by institutional investors.
Laboratory Co. of America Stock Performance
LH stock traded down $0.47 during trading hours on Tuesday, hitting $246.02. 66,696 shares of the stock were exchanged, compared to its average volume of 590,038. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $258.59. The firm has a market capitalization of $20.58 billion, a P/E ratio of 27.89, a P/E/G ratio of 1.84 and a beta of 1.07. The company has a 50-day simple moving average of $237.63 and a two-hundred day simple moving average of $231.23.
Laboratory Co. of America (NYSE:LH - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 EPS 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, analysts forecast that Laboratory Co. of America Holdings will post 15.96 earnings per share for the current fiscal year.
Laboratory Co. of America Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.17%. The ex-dividend date is Thursday, February 27th. Laboratory Co. of America's dividend payout ratio (DPR) is presently 32.65%.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on LH. Robert W. Baird upped their price target on Laboratory Co. of America from $282.00 to $289.00 and gave the company an "outperform" rating in a research note on Friday, October 25th. HSBC raised Laboratory Co. of America from a "hold" rating to a "buy" rating in a research note on Wednesday, October 30th. Piper Sandler increased their target price on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Hsbc Global Res raised Laboratory Co. of America from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 30th. Finally, Bank of America increased their target price on Laboratory Co. of America from $262.00 to $271.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $265.31.
Get Our Latest Analysis on Laboratory Co. of America
Insider Activity at Laboratory Co. of America
In other news, CEO Adam H. Schechter sold 6,121 shares of Laboratory Co. of America 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Glenn A. Eisenberg sold 11,711 shares of Laboratory Co. of America stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $240.43, for a total value of $2,815,675.73. Following the sale, the executive vice president now directly owns 31,289 shares in the company, valued at $7,522,814.27. The trade was a 27.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,504 shares of company stock valued at $5,905,692 over the last ninety days. 0.85% of the stock is owned by corporate insiders.
Laboratory Co. of America Company Profile
(
Free Report)
Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.
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