1,654 Shares in Laboratory Co. of America Holdings (NYSE:LH) Purchased by Freedom Investment Management Inc.

Freedom Investment Management Inc. purchased a new stake in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 1,654 shares of the medical research company's stock, valued at approximately $379,000.

Several other hedge funds also recently modified their holdings of the company. Empowered Funds LLC grew its position in Laboratory Co. of America by 0.5% in the fourth quarter. Empowered Funds LLC now owns 8,025 shares of the medical research company's stock worth $1,840,000 after buying an additional 43 shares during the last quarter. SP Asset Management LLC grew its holdings in shares of Laboratory Co. of America by 0.3% in the 4th quarter. SP Asset Management LLC now owns 15,186 shares of the medical research company's stock worth $3,483,000 after acquiring an additional 43 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Laboratory Co. of America by 0.4% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 12,780 shares of the medical research company's stock worth $2,931,000 after purchasing an additional 45 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in shares of Laboratory Co. of America by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,194 shares of the medical research company's stock valued at $1,650,000 after purchasing an additional 46 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its position in shares of Laboratory Co. of America by 16.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 354 shares of the medical research company's stock valued at $81,000 after purchasing an additional 50 shares during the period. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on LH. Truist Financial cut their price objective on Laboratory Co. of America from $285.00 to $274.00 and set a "buy" rating on the stock in a report on Friday, April 11th. StockNews.com downgraded shares of Laboratory Co. of America from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. Jefferies Financial Group lifted 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. Barclays reduced their target price on Laboratory Co. of America from $260.00 to $240.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. Finally, Citigroup raised Laboratory Co. of America from a "neutral" rating to a "buy" rating and raised their target price for the stock from $250.00 to $300.00 in a research report on Tuesday, March 4th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Laboratory Co. of America has an average rating of "Moderate Buy" and a consensus target price of $268.77.

Laboratory Co. of America Stock Up 0.0 %

NYSE:LH traded up $0.02 during mid-day trading on Friday, reaching $228.60. The stock had a trading volume of 907,300 shares, compared to its average volume of 632,302. The stock has a market cap of $19.13 billion, a P/E ratio of 25.92, a PEG ratio of 1.71 and a beta of 0.99. The business's 50 day moving average is $235.30 and its 200 day moving average is $235.28. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $258.59.

Laboratory Co. of America (NYSE:LH - Get Free Report) last announced 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 net margin of 5.73% and a return on equity of 15.29%. As a group, sell-side analysts predict that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Thursday, May 29th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.26%. Laboratory Co. of America's payout ratio is 32.65%.

Insider Buying and Selling

In other Laboratory Co. of America news, EVP Amy B. Summy sold 758 shares of the company's stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $231.67, for a total transaction of $175,605.86. Following the completion of the sale, the executive vice president now directly owns 5,302 shares in the company, valued at $1,228,314.34. This represents a 12.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Adam H. Schechter sold 6,121 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 86,445 shares in the company, valued at approximately $21,146,175.90. This represents a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,258 shares of company stock worth $3,518,177. 0.84% of the stock is currently owned by insiders.

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.