Venturi Wealth Management LLC Acquires 1,044 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Venturi Wealth Management LLC grew its stake in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 64.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,669 shares of the medical research company's stock after purchasing an additional 1,044 shares during the quarter. Venturi Wealth Management LLC's holdings in Laboratory Co. of America were worth $612,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. FMR LLC increased its position in shares of Laboratory Co. of America by 17.0% during the third quarter. FMR LLC now owns 1,586,397 shares of the medical research company's stock valued at $354,528,000 after acquiring an additional 230,708 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Laboratory Co. of America by 9.5% during the third quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company's stock valued at $431,405,000 after acquiring an additional 167,137 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Laboratory Co. of America by 22.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 577,189 shares of the medical research company's stock valued at $128,990,000 after acquiring an additional 105,443 shares during the last quarter. River Road Asset Management LLC increased its position in shares of Laboratory Co. of America by 37.8% during the third quarter. River Road Asset Management LLC now owns 284,097 shares of the medical research company's stock valued at $63,490,000 after acquiring an additional 77,921 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in shares of Laboratory Co. of America by 7.0% during 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. Institutional investors own 95.94% of the company's stock.

Laboratory Co. of America Price Performance

Laboratory Co. of America stock traded up $0.87 during midday trading on Friday, hitting $250.04. 182,275 shares of the company's stock were exchanged, compared to its average volume of 586,398. The company has a market cap of $20.91 billion, a P/E ratio of 28.35, a PEG ratio of 1.70 and a beta of 1.07. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44. The stock has a 50-day moving average price of $238.57 and a two-hundred day moving average price of $231.55. 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 posted its quarterly earnings data 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 net margin of 5.73% and a return on equity of 15.29%. On average, equities research analysts forecast that Laboratory Co. of America Holdings will post 16.01 earnings per share 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 issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Thursday, February 27th. Laboratory Co. of America's dividend payout ratio is currently 32.65%.

Wall Street Analysts Forecast Growth

LH has been the subject of a number of research analyst reports. Robert W. Baird increased their price target on Laboratory Co. of America from $282.00 to $289.00 and gave the company an "outperform" rating in a research report on Friday, October 25th. Piper Sandler increased their price target on Laboratory Co. of America from $240.00 to $260.00 and gave the company a "neutral" rating in a research report on Monday, February 10th. StockNews.com raised Laboratory Co. of America from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Hsbc Global Res raised Laboratory Co. of America from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 30th. Finally, Evercore ISI raised Laboratory Co. of America from an "in-line" rating to an "outperform" rating and raised their target price for the stock from $260.00 to $265.00 in a research report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $265.31.

Insider Buying and Selling

In other news, EVP Glenn A. Eisenberg sold 11,711 shares of the company's stock in a transaction on Monday, December 2nd. The shares were 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 approximately $7,522,814.27. This represents a 27.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kerrii B. Anderson sold 1,000 shares of Laboratory Co. of America 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 completion of the transaction, the director now owns 12,722 shares in the company, valued at approximately $2,989,670. The trade was a 7.29 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,832 shares of company stock worth $4,788,995. Corporate insiders own 0.85% of the company's stock.

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.