Mill Creek Capital Advisors LLC Makes New $347,000 Investment in Laboratory Co. of America Holdings (NYSE:LH)

Mill Creek Capital Advisors LLC acquired a new stake in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,514 shares of the medical research company's stock, valued at approximately $347,000.

A number of other hedge funds have also recently modified their holdings of the business. Private Trust Co. NA increased its holdings in shares of Laboratory Co. of America by 3.2% during the third quarter. Private Trust Co. NA now owns 1,342 shares of the medical research company's stock valued at $300,000 after acquiring an additional 41 shares in the last quarter. Empowered Funds LLC lifted its position in Laboratory Co. of America by 0.5% in the 4th quarter. Empowered Funds LLC now owns 8,025 shares of the medical research company's stock valued at $1,840,000 after acquiring an additional 43 shares in the last quarter. Empirical Finance LLC boosted its position in shares of Laboratory Co. of America by 1.7% during the third quarter. Empirical Finance LLC now owns 3,055 shares of the medical research company's stock valued at $683,000 after buying an additional 50 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Laboratory Co. of America by 16.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 354 shares of the medical research company's stock valued at $81,000 after acquiring an additional 50 shares during the last quarter. Finally, Concord Wealth Partners grew its position in Laboratory Co. of America by 43.3% in the 3rd quarter. Concord Wealth Partners now owns 172 shares of the medical research company's stock worth $38,000 after purchasing an additional 52 shares during the period. Institutional investors own 95.94% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on LH. HSBC upgraded Laboratory Co. of America from a "hold" rating to a "buy" rating in a research note on Wednesday, October 30th. StockNews.com raised Laboratory Co. of America from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Piper Sandler upped their price target 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. Bank of America upped their price objective on Laboratory Co. of America from $262.00 to $271.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. Finally, Robert W. Baird raised their target price on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the company an "outperform" rating in a research note on Friday, October 25th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Laboratory Co. of America presently has an average rating of "Moderate Buy" and an average price target of $265.31.

Insider Activity at Laboratory Co. of America

In related news, EVP Glenn A. Eisenberg sold 11,711 shares of Laboratory Co. of America stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $240.43, for a total value of $2,815,675.73. Following the completion of the sale, the executive vice president now directly owns 31,289 shares in the company, valued at $7,522,814.27. The trade was a 27.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Der Vaart Sandra D. Van sold 1,000 shares of the firm's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $239.42, for a total transaction of $239,420.00. Following the transaction, the executive vice president now directly owns 2,670 shares in the company, valued at $639,251.40. This trade represents a 27.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,504 shares of company stock worth $5,905,692 in the last 90 days. 0.85% of the stock is owned by corporate insiders.

Laboratory Co. of America Trading Up 0.8 %

NYSE:LH traded up $1.87 during mid-day trading on Friday, hitting $246.74. 565,887 shares of the stock traded hands, compared to its average volume of 603,727. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67. Laboratory Co. of America Holdings has a 52 week low of $191.97 and a 52 week high of $258.59. The stock has a market capitalization of $20.64 billion, a price-to-earnings ratio of 27.98, a PEG ratio of 1.84 and a beta of 1.07. The firm's 50 day moving average is $237.42 and its two-hundred day moving average is $230.91.

Laboratory Co. of America (NYSE:LH - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share for the quarter, topping the consensus estimate of $3.40 by $0.05. Laboratory Co. of America had a return on equity of 15.29% and a net margin of 5.73%. On average, equities research analysts predict that Laboratory Co. of America Holdings will post 15.96 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

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

About Laboratory Co. of America

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.