Pitcairn Co. Acquires Shares of 1,138 Laboratory Co. of America Holdings (NYSE:LH)

Pitcairn Co. bought a new position in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,138 shares of the medical research company's stock, valued at approximately $261,000.

A number of other large investors have also made changes to their positions in the stock. Graney & King LLC purchased a new position in Laboratory Co. of America during the fourth quarter worth about $26,000. Fortitude Family Office LLC raised its position in shares of Laboratory Co. of America by 312.5% during the 4th quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company's stock valued at $30,000 after buying an additional 100 shares during the period. Geneos Wealth Management Inc. lifted its holdings in Laboratory Co. of America by 309.8% in the fourth quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company's stock valued at $39,000 after acquiring an additional 127 shares during the last quarter. Human Investing LLC purchased a new position in Laboratory Co. of America in the fourth quarter worth approximately $39,000. Finally, Heck Capital Advisors LLC purchased a new position in Laboratory Co. of America in the fourth quarter worth approximately $44,000. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Evercore ISI raised Laboratory Co. of America from an "in-line" rating to an "outperform" rating and upped their price target for the company from $260.00 to $265.00 in a research note on Tuesday, January 7th. Morgan Stanley upped their target price on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company an "overweight" rating in a research report on Tuesday, December 17th. Jefferies Financial Group lifted their price target on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Truist Financial decreased their price objective 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. Finally, Citigroup upgraded shares of Laboratory Co. of America from a "neutral" rating to a "buy" rating and lifted their target price for the company from $250.00 to $300.00 in a report on Tuesday, March 4th. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $268.77.

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Insider Activity at Laboratory Co. of America

In related news, Director Kerrii B. Anderson sold 500 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $255.63, for a total value of $127,815.00. Following the completion of the transaction, the director now directly owns 13,166 shares of the company's stock, valued at $3,365,624.58. This represents a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Amy B. Summy sold 758 shares of the firm's stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $231.67, for a total transaction of $175,605.86. Following the sale, the executive vice president now directly owns 5,302 shares in the company, valued at approximately $1,228,314.34. The trade was a 12.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,258 shares of company stock valued at $3,518,177 over the last quarter. 0.85% of the stock is owned by insiders.

Laboratory Co. of America Stock Up 1.3 %

NYSE LH traded up $2.85 during trading hours on Friday, hitting $221.46. 1,031,685 shares of the company were exchanged, compared to its average volume of 638,269. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67. The firm has a market cap of $18.54 billion, a price-to-earnings ratio of 25.11, a PEG ratio of 1.71 and a beta of 0.99. The company has a 50 day moving average of $240.04 and a two-hundred day moving average of $234.81. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $258.59.

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

Laboratory Co. of America Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 1.30%. Laboratory Co. of America's payout ratio is currently 32.65%.

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.