Hershey Financial Advisers LLC Makes New Investment in Laboratory Co. of America Holdings (NYSE:LH)

Hershey Financial Advisers LLC bought a new stake in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 7,335 shares of the medical research company's stock, valued at approximately $1,682,000. Laboratory Co. of America accounts for 1.5% of Hershey Financial Advisers LLC's investment portfolio, making the stock its 26th largest position.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Fortitude Family Office LLC raised its position in shares of Laboratory Co. of America by 312.5% during the 4th quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company's stock worth $30,000 after buying an additional 100 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in Laboratory Co. of America by 309.8% during the fourth quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company's stock worth $39,000 after acquiring an additional 127 shares during the period. Human Investing LLC bought a new stake in Laboratory Co. of America in the fourth quarter worth about $39,000. True Wealth Design LLC lifted its holdings in Laboratory Co. of America by 3,660.0% in the 3rd quarter. True Wealth Design LLC now owns 188 shares of the medical research company's stock valued at $42,000 after acquiring an additional 183 shares during the last quarter. Finally, Heck Capital Advisors LLC bought a new stake in Laboratory Co. of America during the fourth quarter worth approximately $44,000. Institutional investors own 95.94% of the company's stock.

Laboratory Co. of America Stock Down 0.8 %

Shares of NYSE LH traded down $1.92 during trading hours on Friday, hitting $229.75. The stock had a trading volume of 479,830 shares, compared to its average volume of 620,813. The company has a market capitalization of $19.23 billion, a P/E ratio of 26.05, a P/E/G ratio of 1.71 and a beta of 1.12. The firm's 50-day moving average price is $244.80 and its two-hundred day moving average price is $234.48. 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 52 week low of $191.97 and a 52 week high of $258.59.

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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 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%. Analysts anticipate that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th were given a $0.72 dividend. The ex-dividend date was Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.25%. Laboratory Co. of America's dividend payout ratio is currently 32.65%.

Analyst Ratings Changes

A number of research firms recently weighed in on LH. Citigroup upgraded Laboratory Co. of America from a "neutral" rating to a "buy" rating and increased their price target for the company from $250.00 to $300.00 in a research report on Tuesday, March 4th. Piper Sandler lifted their target price on shares of 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. UBS Group cut their price target 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. StockNews.com raised shares of Laboratory Co. of America from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Finally, Jefferies Financial Group boosted their target price on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $269.92.

Insiders Place Their Bets

In related news, COO Mark S. Schroeder sold 5,339 shares of the firm's stock in a transaction on 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 transaction, the chief operating officer now directly owns 4,960 shares in the company, valued at approximately $1,236,180.80. This trade represents a 51.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Adam H. Schechter sold 6,121 shares of the business's stock in a transaction on 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 represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,500 shares of company stock valued at $3,577,572 over the last quarter. 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.