Verdence Capital Advisors LLC Purchases 2,382 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Verdence Capital Advisors LLC raised its stake in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 124.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,296 shares of the medical research company's stock after acquiring an additional 2,382 shares during the quarter. Verdence Capital Advisors LLC's holdings in Laboratory Co. of America were worth $985,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SouthState Corp bought a new position in shares of Laboratory Co. of America in the 3rd quarter valued at about $28,000. Fortitude Family Office LLC boosted its stake in 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 worth $30,000 after acquiring an additional 100 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in Laboratory Co. of America by 309.8% during the 4th quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company's stock worth $39,000 after acquiring an additional 127 shares during the last quarter. Human Investing LLC bought a new position in Laboratory Co. of America during the 4th quarter worth approximately $39,000. Finally, Kennebec Savings Bank bought a new position in Laboratory Co. of America during the 3rd quarter worth approximately $42,000. Institutional investors and hedge funds own 95.94% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on LH shares. Piper Sandler lifted their price target on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Evercore ISI raised shares of Laboratory Co. of America from an "in-line" rating to an "outperform" rating and lifted their price target for the company from $260.00 to $265.00 in a research note on Tuesday, January 7th. StockNews.com raised shares of Laboratory Co. of America from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Citigroup upgraded shares of Laboratory Co. of America from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $250.00 to $300.00 in a report on Tuesday, March 4th. Finally, Bank of America lifted their price objective on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the company a "buy" rating in a report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Laboratory Co. of America has a consensus rating of "Moderate Buy" and a consensus target price of $268.38.

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Insider Buying and Selling at Laboratory Co. of America

In other news, Director Kerrii B. Anderson sold 1,000 shares of the business's stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total value of $235,000.00. Following the completion of the sale, the director now owns 12,722 shares of the company's stock, valued at approximately $2,989,670. The trade was a 7.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Der Vaart Sandra D. Van sold 1,314 shares of the business's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $251.30, for a total transaction of $330,208.20. Following the completion of the sale, the executive vice president now directly owns 2,171 shares of the company's stock, valued at approximately $545,572.30. The trade was a 37.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,500 shares of company stock worth $3,577,572 over the last ninety days. Insiders own 0.85% of the company's stock.

Laboratory Co. of America Stock Performance

Shares of NYSE:LH traded down $1.07 on Friday, hitting $253.00. The company had a trading volume of 801,584 shares, compared to its average volume of 607,434. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $258.59. The stock has a market cap of $21.18 billion, a price-to-earnings ratio of 28.68, a P/E/G ratio of 1.71 and a beta of 1.12. The stock has a 50 day moving average price of $243.68 and a 200 day moving average price of $233.72. 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 (NYSE:LH - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, beating 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%. Analysts expect that Laboratory Co. of America Holdings will post 16.01 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. Shareholders of record on Thursday, February 27th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $2.88 annualized dividend and a dividend yield of 1.14%. Laboratory Co. of America's dividend payout ratio is currently 32.65%.

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.