Caprock Group LLC Increases Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Caprock Group LLC boosted its stake in Laboratory Co. of America Holdings (NYSE:LH) by 30.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,394 shares of the medical research company’s stock after purchasing an additional 1,244 shares during the quarter. Caprock Group LLC’s holdings in Laboratory Co. of America were worth $1,237,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in LH. OneDigital Investment Advisors LLC grew its stake in Laboratory Co. of America by 115.7% during the third quarter. OneDigital Investment Advisors LLC now owns 6,088 shares of the medical research company’s stock valued at $1,361,000 after acquiring an additional 3,265 shares in the last quarter. Alexander Randolph Advisory Inc. purchased a new position in shares of Laboratory Co. of America during the 3rd quarter valued at $955,000. Wealthcare Advisory Partners LLC increased its holdings in shares of Laboratory Co. of America by 23.9% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 2,543 shares of the medical research company’s stock worth $583,000 after purchasing an additional 490 shares during the period. Mutual of America Capital Management LLC purchased a new stake in shares of Laboratory Co. of America in the third quarter worth $2,316,000. Finally, Barclays PLC boosted its stake in Laboratory Co. of America by 11.8% during the third quarter. Barclays PLC now owns 620,721 shares of the medical research company’s stock valued at $138,718,000 after buying an additional 65,356 shares during the period. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Adam H. Schechter sold 6,189 shares of Laboratory Co. of America stock in a transaction on Monday, November 11th. The shares were sold at an average price of $243.47, for a total value of $1,506,835.83. Following the sale, the chief executive officer now owns 87,441 shares in the company, valued at $21,289,260.27. The trade was a 6.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kerrii B. Anderson sold 1,000 shares of the company’s 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 of the company’s stock, valued at $2,989,670. This trade represents a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,572 shares of company stock valued at $5,915,209 in the last quarter. Insiders own 0.85% of the company’s stock.

Laboratory Co. of America Price Performance

Shares of Laboratory Co. of America stock opened at $249.39 on Monday. The stock has a market capitalization of $20.86 billion, a P/E ratio of 48.24, a price-to-earnings-growth ratio of 1.83 and a beta of 1.06. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year high of $258.59. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.44 and a quick ratio of 1.30. The business’s 50 day simple moving average is $236.02 and its two-hundred day simple moving average is $228.63.

Laboratory Co. of America Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $2.88 annualized dividend and a yield of 1.15%. Laboratory Co. of America’s payout ratio is currently 55.71%.

Analyst Ratings Changes

Several research firms have weighed in on LH. Robert W. Baird raised their price target on Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Morgan Stanley lifted their target price on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. HSBC raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. UBS Group dropped their price objective on shares of Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Finally, Evercore ISI raised Laboratory Co. of America from an “in-line” rating to an “outperform” rating and increased their target price for the company from $260.00 to $265.00 in a research note on Tuesday, January 7th. Four 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 stock. Based on data from MarketBeat.com, Laboratory Co. of America presently has an average rating of “Moderate Buy” and an average target price of $261.77.

About Laboratory Co. of America

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.