Mcrae Capital Management Inc. Has $19.37 Million Position in Laboratory Co. of America Holdings (NYSE:LH)

Mcrae Capital Management Inc. increased its stake in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 1.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,446 shares of the medical research company's stock after purchasing an additional 1,295 shares during the quarter. Laboratory Co. of America comprises about 3.8% of Mcrae Capital Management Inc.'s portfolio, making the stock its 9th biggest position. Mcrae Capital Management Inc. owned 0.10% of Laboratory Co. of America worth $19,365,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of LH. SouthState Corp bought a new stake in Laboratory Co. of America during the 3rd quarter worth about $28,000. Horizon Bancorp Inc. IN bought a new stake in shares of Laboratory Co. of America during the third quarter worth approximately $29,000. Fortitude Family Office LLC raised its stake in shares of Laboratory Co. of America by 312.5% during the fourth 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 during the last quarter. Riverview Trust Co boosted its stake in Laboratory Co. of America by 172.6% in the third quarter. Riverview Trust Co now owns 169 shares of the medical research company's stock valued at $38,000 after acquiring an additional 107 shares during the last quarter. Finally, Concord Wealth Partners grew its holdings in Laboratory Co. of America by 43.3% during the 3rd quarter. Concord Wealth Partners now owns 172 shares of the medical research company's stock worth $38,000 after acquiring an additional 52 shares during the period. Institutional investors and hedge funds own 95.94% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. StockNews.com upgraded Laboratory Co. of America from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Barclays decreased their target price on Laboratory Co. of America from $271.00 to $260.00 and set an "equal weight" rating for the company in a research report on Friday, February 7th. HSBC upgraded shares of Laboratory Co. of America from a "hold" rating to a "buy" rating in a research report on Wednesday, October 30th. Morgan Stanley boosted their price objective on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company an "overweight" rating in a report on Tuesday, December 17th. Finally, Jefferies Financial Group lifted their price target 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. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $265.31.

Laboratory Co. of America Stock Down 0.1 %

Laboratory Co. of America stock traded down $0.15 during midday trading on Tuesday, reaching $246.34. The stock had a trading volume of 372,760 shares, compared to its average volume of 600,325. The stock has a market capitalization of $20.60 billion, a P/E ratio of 27.93, a price-to-earnings-growth ratio of 1.84 and a beta of 1.07. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $258.59. The firm's fifty day simple moving average is $237.63 and its 200-day simple moving average is $231.23. 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 announced 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%. As a group, analysts expect that Laboratory Co. of America Holdings will post 15.96 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Thursday, February 27th. Laboratory Co. of America's payout ratio is 32.65%.

Insider Activity at Laboratory Co. of America

In related news, CEO Adam H. Schechter sold 6,121 shares of the firm's stock in a transaction 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 completion of 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 trade represents a 6.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kerrii B. Anderson sold 1,000 shares of the company's stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $235.00, for a total transaction of $235,000.00. Following the sale, the director now directly owns 12,722 shares in the company, valued at $2,989,670. This trade represents a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,504 shares of company stock valued at $5,905,692. 0.85% of the stock is 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.