D.A. Davidson & CO. Purchases 1,422 Shares of Laboratory Co. of America Holdings (NYSE:LH)

D.A. Davidson & CO. boosted its stake in Laboratory Co. of America Holdings (NYSE:LH) by 13.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,647 shares of the medical research company’s stock after purchasing an additional 1,422 shares during the period. D.A. Davidson & CO.’s holdings in Laboratory Co. of America were worth $2,671,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Truist Financial Corp boosted its stake in shares of Laboratory Co. of America by 0.4% during the 4th quarter. Truist Financial Corp now owns 23,991 shares of the medical research company’s stock worth $5,502,000 after acquiring an additional 84 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Laboratory Co. of America by 4.2% during the 4th quarter. CIBC Asset Management Inc now owns 12,806 shares of the medical research company’s stock worth $2,937,000 after acquiring an additional 521 shares during the last quarter. Human Investing LLC purchased a new position in shares of Laboratory Co. of America during the 4th quarter worth $39,000. Allworth Financial LP boosted its stake in shares of Laboratory Co. of America by 43.1% during the 4th quarter. Allworth Financial LP now owns 631 shares of the medical research company’s stock worth $153,000 after acquiring an additional 190 shares during the last quarter. Finally, Principal Securities Inc. lifted its stake in shares of Laboratory Co. of America by 8.6% during the 4th quarter. Principal Securities Inc. now owns 5,324 shares of the medical research company’s stock valued at $1,221,000 after buying an additional 421 shares in the last quarter. Institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Stock Performance

Shares of NYSE:LH opened at $249.86 on Friday. The company has a market capitalization of $20.90 billion, a price-to-earnings ratio of 28.33, a PEG ratio of 1.70 and a beta of 1.07. 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 Holdings has a 12 month low of $191.97 and a 12 month high of $258.59. The firm’s 50-day moving average is $238.57 and its 200 day moving average is $231.55.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 earnings per share (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%. Research analysts predict that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $2.88 annualized dividend and a dividend yield of 1.15%. Laboratory Co. of America’s payout ratio is presently 32.65%.

Insider Transactions at Laboratory Co. of America

In other Laboratory Co. of America news, Director Dwight Gary Gilliland sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $241.00, for a total transaction of $241,000.00. Following the transaction, the director now owns 7,712 shares in the company, valued at approximately $1,858,592. This represents a 11.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Adam H. Schechter sold 6,121 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $244.62, for a total transaction of $1,497,319.02. Following the transaction, the chief executive officer now owns 86,445 shares in the company, valued at $21,146,175.90. The trade was a 6.61 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,832 shares of company stock valued at $4,788,995. Company insiders own 0.85% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Piper Sandler lifted their target price 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 upgraded shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $260.00 to $265.00 in a research note on Tuesday, January 7th. Barclays lowered their target price on shares of Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating on the stock in a research note on Friday, February 7th. Bank of America boosted their price target on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, StockNews.com upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $265.31.

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.