McGlone Suttner Wealth Management Inc. Acquires New Stake in Laboratory Co. of America Holdings (NYSE:LH)

McGlone Suttner Wealth Management Inc. purchased a new position in shares of Laboratory Co. of America Holdings (NYSE:LH) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 872 shares of the medical research company’s stock, valued at approximately $200,000.

Several other large investors also recently bought and sold shares of the stock. Brighton Jones LLC purchased a new stake in Laboratory Co. of America during the 4th quarter worth about $991,000. Janney Montgomery Scott LLC increased its holdings in Laboratory Co. of America by 5.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 33,219 shares of the medical research company’s stock worth $7,618,000 after purchasing an additional 1,723 shares during the period. Daymark Wealth Partners LLC boosted its position in shares of Laboratory Co. of America by 0.8% during the 4th quarter. Daymark Wealth Partners LLC now owns 7,995 shares of the medical research company’s stock worth $1,833,000 after acquiring an additional 61 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Laboratory Co. of America by 1.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 30,336 shares of the medical research company’s stock worth $6,957,000 after acquiring an additional 485 shares in the last quarter. Finally, Simon Quick Advisors LLC acquired a new position in shares of Laboratory Co. of America during the 4th quarter worth about $464,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Der Vaart Sandra D. Van sold 1,000 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $239.42, for a total transaction of $239,420.00. Following the completion of the transaction, the executive vice president now directly owns 2,670 shares of the company’s stock, valued at approximately $639,251.40. This represents a 27.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Glenn A. Eisenberg sold 11,711 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 31,289 shares of the company’s stock, valued at approximately $7,522,814.27. This trade represents a 27.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,572 shares of company stock valued at $5,915,209. 0.85% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on LH shares. 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. StockNews.com cut Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Jefferies Financial Group reaffirmed a “buy” rating and set a $275.00 price objective (up from $265.00) on shares of Laboratory Co. of America in a research report on Tuesday, December 10th. Barclays upped their price objective on Laboratory Co. of America from $234.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Finally, Robert W. Baird upped their target price 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. Four 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $260.54.

Laboratory Co. of America Stock Up 0.8 %

Laboratory Co. of America stock opened at $246.29 on Friday. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $247.99. The stock has a 50 day moving average of $234.75 and a two-hundred day moving average of $226.67. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $20.60 billion, a price-to-earnings ratio of 47.64, a PEG ratio of 1.81 and a beta of 1.06.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings data on Thursday, October 24th. The medical research company reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $3.48 by $0.02. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same period last year, the firm earned $3.38 EPS. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, research analysts expect that Laboratory Co. of America Holdings will post 14.51 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

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 given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.17%. Laboratory Co. of America’s payout ratio is 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.