Laboratory Co. of America Holdings (NYSE:LH) Shares Bought by Marietta Wealth Management LLC

Marietta Wealth Management LLC grew its position in Laboratory Co. of America Holdings (NYSE:LH) by 3.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,251 shares of the medical research company’s stock after buying an additional 638 shares during the quarter. Marietta Wealth Management LLC’s holdings in Laboratory Co. of America were worth $4,873,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of LH. Allspring Global Investments Holdings LLC grew its stake in Laboratory Co. of America by 16.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,865,460 shares of the medical research company’s stock worth $416,893,000 after purchasing an additional 263,105 shares in the last quarter. FMR LLC lifted its position in Laboratory Co. of America by 17.0% in 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. boosted its stake in Laboratory Co. of America by 9.5% in 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 in the last quarter. Massachusetts Financial Services Co. MA grew its holdings 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 worth $128,990,000 after purchasing an additional 105,443 shares during the last quarter. Finally, River Road Asset Management LLC lifted its holdings in shares of Laboratory Co. of America by 37.8% in the 3rd quarter. River Road Asset Management LLC now owns 284,097 shares of the medical research company’s stock valued at $63,490,000 after purchasing an additional 77,921 shares during the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Stock Down 0.9 %

Shares of NYSE LH opened at $249.39 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.66. The firm has a 50-day moving average price of $236.02 and a 200 day moving average price of $228.54. Laboratory Co. of America Holdings has a 52 week low of $191.97 and a 52 week high of $258.59. The stock has a market capitalization of $20.86 billion, a price-to-earnings ratio of 48.24, a price-to-earnings-growth ratio of 1.83 and a beta of 1.06.

Laboratory Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio (DPR) is 55.71%.

Analyst Upgrades and Downgrades

LH has been the topic of a number of research reports. Jefferies Financial Group restated a “buy” rating and set a $275.00 price target (up previously from $265.00) on shares of Laboratory Co. of America in a research note on Tuesday, December 10th. UBS Group lowered their price objective on shares of Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a research report on Tuesday. Morgan Stanley raised their price target on Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Robert W. Baird upped their price objective on Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, Hsbc Global Res upgraded Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Laboratory Co. of America currently has an average rating of “Moderate Buy” and an average price target of $261.77.

Insider Buying and Selling

In related news, Director Kerrii B. Anderson sold 1,000 shares of the 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 sale, the director now directly owns 12,722 shares of the company’s stock, valued at approximately $2,989,670. This represents a 7.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Glenn A. Eisenberg sold 11,711 shares of Laboratory Co. of America stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $240.43, for a total transaction of $2,815,675.73. Following the transaction, the executive vice president now owns 31,289 shares of the company’s stock, valued at approximately $7,522,814.27. The trade was a 27.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,572 shares of company stock worth $5,915,209 in the last quarter. Company insiders own 0.85% of the company’s stock.

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.