River Road Asset Management LLC Acquires 8,687 Shares of Laboratory Co. of America Holdings (NYSE:LH)

River Road Asset Management LLC raised its holdings in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 3.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 292,784 shares of the medical research company's stock after purchasing an additional 8,687 shares during the quarter. River Road Asset Management LLC owned 0.35% of Laboratory Co. of America worth $67,141,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LH. SouthState Corp acquired a new stake in Laboratory Co. of America during the 3rd quarter valued at approximately $28,000. Fortitude Family Office LLC lifted its stake in shares of Laboratory Co. of America by 312.5% in the 4th 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 during the period. Geneos Wealth Management Inc. boosted its position in shares of Laboratory Co. of America by 309.8% during the 4th 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 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, Kennebec Savings Bank bought a new position in shares of Laboratory Co. of America during the 3rd quarter worth approximately $42,000. Institutional investors own 95.94% of the company's stock.

Laboratory Co. of America Price Performance

NYSE LH traded down $2.64 during trading on Wednesday, reaching $236.61. The company's stock had a trading volume of 481,619 shares, compared to its average volume of 620,493. The stock has a market capitalization of $19.80 billion, a PE ratio of 26.79, a P/E/G ratio of 1.71 and a beta of 1.12. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30. The firm has a fifty day moving average of $244.18 and a 200 day moving average of $233.91. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year high of $258.59.

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Laboratory Co. of America (NYSE:LH - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 expect that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th will be paid a $0.72 dividend. The ex-dividend date is Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a yield of 1.22%. Laboratory Co. of America's dividend payout ratio (DPR) is currently 32.65%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LH. Jefferies Financial Group increased their target price on Laboratory Co. of America from $275.00 to $290.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Citigroup upgraded shares of Laboratory Co. of America from a "neutral" rating to a "buy" rating and upped their target price for the stock from $250.00 to $300.00 in a report on Tuesday, March 4th. Morgan Stanley boosted their price objective on Laboratory Co. of America from $260.00 to $270.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. Bank of America lifted their target price on Laboratory Co. of America from $262.00 to $271.00 and gave the company a "buy" rating in a research report on Friday, December 13th. Finally, Piper Sandler upped their price objective 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. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued 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 $268.38.

Insider Buying and Selling at Laboratory Co. of America

In other news, CEO Adam H. Schechter sold 6,121 shares of the company'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 transaction, the chief executive officer now 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CMO Amy B. Summy sold 226 shares of the company's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $250.40, for a total value of $56,590.40. Following the completion of the transaction, the chief marketing officer now directly owns 4,544 shares in the company, valued at $1,137,817.60. This trade represents a 4.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,500 shares of company stock worth $3,577,572. 0.85% of the stock is currently owned by insiders.

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.