NewEdge Advisors LLC Purchases 6,538 Shares of Laboratory Co. of America Holdings (NYSE:LH)

NewEdge Advisors LLC increased its stake in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 2,278.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,825 shares of the medical research company's stock after purchasing an additional 6,538 shares during the period. NewEdge Advisors LLC's holdings in Laboratory Co. of America were worth $1,565,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Capital City Trust Co. FL boosted its holdings in shares of Laboratory Co. of America by 1.5% in the fourth quarter. Capital City Trust Co. FL now owns 15,553 shares of the medical research company's stock valued at $3,567,000 after buying an additional 223 shares during the period. Wealthcare Advisory Partners LLC increased its stake in Laboratory Co. of America by 23.9% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 2,543 shares of the medical research company's stock valued at $583,000 after buying an additional 490 shares during the last quarter. Bryn Mawr Capital Management LLC lifted its position in Laboratory Co. of America by 51.2% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 1,495 shares of the medical research company's stock worth $343,000 after buying an additional 506 shares in the last quarter. Barclays PLC boosted its stake in shares of Laboratory Co. of America by 11.8% during the 3rd quarter. Barclays PLC now owns 620,721 shares of the medical research company's stock worth $138,718,000 after buying an additional 65,356 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in shares of Laboratory Co. of America by 7.0% in the fourth quarter. Nordea Investment Management AB now owns 1,052,927 shares of the medical research company's stock valued at $243,321,000 after acquiring an additional 68,974 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. UBS Group decreased their price target on Laboratory Co. of America from $293.00 to $286.00 and set a "buy" rating for the company in a research note on Tuesday, January 28th. Evercore ISI upgraded shares of Laboratory Co. of America from an "in-line" rating to an "outperform" rating and boosted their target price for the stock from $260.00 to $265.00 in a report on Tuesday, January 7th. Barclays cut their price target on shares of Laboratory Co. of America from $260.00 to $240.00 and set an "equal weight" rating for the company in a research note on Thursday, April 10th. Truist Financial dropped their target price on shares of 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. Finally, Piper Sandler lifted their price target on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Laboratory Co. of America currently has an average rating of "Moderate Buy" and a consensus price target of $268.77.

Laboratory Co. of America Price Performance

Laboratory Co. of America stock traded up $0.05 during trading hours on Monday, reaching $228.36. 586,146 shares of the stock were exchanged, compared to its average volume of 696,600. The stock has a 50 day moving average of $235.30 and a two-hundred day moving average of $235.28. The company has a market cap of $19.11 billion, a P/E ratio of 25.89, a price-to-earnings-growth ratio of 1.71 and a beta of 0.99. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $258.59.

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

Laboratory Co. of America Dividend Announcement

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

Insider Activity

In other Laboratory Co. of America news, CMO Amy B. Summy sold 226 shares of Laboratory Co. of America stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $250.40, for a total transaction of $56,590.40. Following the completion of the transaction, the chief marketing officer now owns 4,544 shares of the company's stock, valued at $1,137,817.60. The trade was a 4.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Adam H. Schechter sold 6,121 shares of the company's stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 86,445 shares in the company, valued at $21,146,175.90. This trade represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,258 shares of company stock worth $3,518,177 in the last quarter. 0.84% of the stock is owned by corporate insiders.

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.