ORG Partners LLC Invests $527,000 in Laboratory Co. of America Holdings (NYSE:LH)

ORG Partners 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 13F filing with the Securities and Exchange Commission. The firm bought 2,298 shares of the medical research company's stock, valued at approximately $527,000.

Other institutional investors also recently bought and sold shares of the company. SouthState Corp acquired a new position in Laboratory Co. of America during the 3rd quarter worth $28,000. Horizon Bancorp Inc. IN acquired a new position in shares of Laboratory Co. of America during the third quarter worth about $29,000. Fortitude Family Office LLC increased 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 period. Riverview Trust Co raised its holdings 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 in the last quarter. Finally, Concord Wealth Partners lifted its stake in Laboratory Co. of America by 43.3% in the third 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 last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Jefferies Financial Group reissued a "buy" rating and issued a $275.00 price objective (up from $265.00) on shares of Laboratory Co. of America in a research report on Tuesday, December 10th. Hsbc Global Res upgraded Laboratory Co. of America from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 30th. Morgan Stanley upped their price objective on Laboratory Co. of America from $260.00 to $270.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. Bank of America raised their target price on Laboratory Co. of America from $262.00 to $271.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Finally, Piper Sandler upped their price target on Laboratory Co. of America from $235.00 to $240.00 and gave the company a "neutral" rating in a report on Monday, October 28th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $260.54.

Insider Activity at Laboratory Co. of America

In other news, EVP Glenn A. Eisenberg sold 11,711 shares of Laboratory Co. of America stock in a transaction on 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 owns 31,289 shares of the company's stock, valued at $7,522,814.27. The trade was a 27.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kerrii B. Anderson sold 1,000 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $235.00, for a total value of $235,000.00. Following the transaction, the director now 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. Insiders have sold a total of 25,572 shares of company stock valued at $6,145,209 over the last quarter. Insiders own 0.85% of the company's stock.

Laboratory Co. of America Price Performance

Shares of LH traded down $2.19 on Friday, reaching $232.12. The stock had a trading volume of 626,928 shares, compared to its average volume of 552,471. The firm has a 50-day moving average of $234.59 and a 200 day moving average of $224.60. The firm has a market capitalization of $19.41 billion, a PE ratio of 44.90, a PEG ratio of 1.91 and a beta of 1.06. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $247.99. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.66.

Laboratory Co. of America (NYSE:LH - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.48 by $0.02. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.26 billion. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The business's revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.38 EPS. Sell-side analysts expect that Laboratory Co. of America Holdings will post 14.52 EPS for the current year.

Laboratory Co. of America Announces Dividend

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 given a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.24%. Laboratory Co. of America's dividend payout ratio is currently 55.71%.

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.