Laboratory Co. of America Holdings (NYSE:LH) Shares Bought by Cannell & Spears LLC

Cannell & Spears LLC increased its stake in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 18.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 202,555 shares of the medical research company's stock after purchasing an additional 32,259 shares during the quarter. Cannell & Spears LLC owned 0.24% of Laboratory Co. of America worth $46,450,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Graney & King LLC acquired a new stake in Laboratory Co. of America in the 4th quarter valued at about $26,000. Fortitude Family Office LLC lifted its holdings in shares of Laboratory Co. of America by 312.5% in the fourth quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company's stock valued at $30,000 after purchasing an additional 100 shares in the last quarter. Geneos Wealth Management Inc. grew its position in shares of 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 valued at $39,000 after purchasing an additional 127 shares during the last quarter. Human Investing LLC purchased a new position in shares of Laboratory Co. of America during the 4th quarter worth approximately $39,000. Finally, True Wealth Design LLC raised its position in shares of Laboratory Co. of America by 3,660.0% during the 3rd quarter. True Wealth Design LLC now owns 188 shares of the medical research company's stock worth $42,000 after purchasing an additional 183 shares during the last quarter. Institutional investors and hedge funds own 95.94% of the company's stock.

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Laboratory Co. of America Trading Down 1.3 %

Shares of NYSE:LH traded down $3.10 during trading on Thursday, reaching $233.27. 1,122,305 shares of the stock were exchanged, compared to its average volume of 625,310. The firm's 50-day moving average price is $244.33 and its 200 day moving average price is $234.88. The firm has a market cap of $19.52 billion, a price-to-earnings ratio of 26.45, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month 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 - Get Free Report) last posted its earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share for the quarter, beating 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, sell-side analysts anticipate 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. Stockholders of record on Thursday, February 27th were paid a dividend of $0.72 per share. The ex-dividend date was Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.23%. Laboratory Co. of America's dividend payout ratio is currently 32.65%.

Insider Activity at Laboratory Co. of America

In related news, EVP Der Vaart Sandra D. Van sold 1,314 shares of Laboratory Co. of America stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $251.30, for a total value of $330,208.20. Following the completion of the sale, the executive vice president now owns 2,171 shares in the company, valued at approximately $545,572.30. The trade was a 37.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Mark S. Schroeder sold 5,339 shares of the company's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $249.23, for a total transaction of $1,330,638.97. Following the completion of the sale, the chief operating officer now directly owns 4,960 shares in the company, valued at $1,236,180.80. This represents a 51.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 15,258 shares of company stock valued at $3,753,177. Corporate insiders own 0.85% of the company's stock.

Wall Street Analyst Weigh In

LH has been the subject of several recent research reports. UBS Group dropped their price target on Laboratory Co. of America from $293.00 to $286.00 and set a "buy" rating for the company in a research report on Tuesday, January 28th. Piper Sandler lifted their price objective on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Barclays reduced their target price on shares of Laboratory Co. of America from $271.00 to $260.00 and set an "equal weight" rating on the stock in a report on Friday, February 7th. StockNews.com lowered shares of Laboratory Co. of America from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Finally, Redburn Atlantic initiated coverage on shares of Laboratory Co. of America in a research report on Wednesday. They set a "buy" rating and a $276.00 target price on the stock. Four research 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 data from MarketBeat, Laboratory Co. of America currently has an average rating of "Moderate Buy" and a consensus target price of $270.38.

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.