Fortitude Family Office LLC Buys 100 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Fortitude Family Office LLC boosted its position in Laboratory Co. of America Holdings (NYSE:LH) by 312.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132 shares of the medical research company’s stock after buying an additional 100 shares during the period. Fortitude Family Office LLC’s holdings in Laboratory Co. of America were worth $30,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Private Trust Co. NA lifted its stake in Laboratory Co. of America by 3.2% during the 3rd quarter. Private Trust Co. NA now owns 1,342 shares of the medical research company’s stock valued at $300,000 after acquiring an additional 41 shares in the last quarter. Empirical Finance LLC raised its holdings in shares of Laboratory Co. of America by 1.7% in the third quarter. Empirical Finance LLC now owns 3,055 shares of the medical research company’s stock valued at $683,000 after purchasing an additional 50 shares during the last quarter. Concord Wealth Partners lifted its position in shares of Laboratory Co. of America by 43.3% during the third quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock valued at $38,000 after purchasing an additional 52 shares in the last quarter. Rehmann Capital Advisory Group boosted its holdings in Laboratory Co. of America by 1.9% during the third quarter. Rehmann Capital Advisory Group now owns 2,844 shares of the medical research company’s stock worth $637,000 after purchasing an additional 53 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its position in Laboratory Co. of America by 2.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 2,773 shares of the medical research company’s stock worth $620,000 after purchasing an additional 58 shares in the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Bank of America boosted their target price on 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. HSBC raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Piper Sandler lifted their target price on Laboratory Co. of America from $235.00 to $240.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Evercore ISI upgraded shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and increased their price target for the company from $260.00 to $265.00 in a research report on Tuesday. Finally, StockNews.com lowered shares of Laboratory Co. of America from a “buy” rating to a “hold” 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, Laboratory Co. of America currently has a consensus rating of “Moderate Buy” and a consensus price target of $260.54.

Insider Activity

In related news, EVP Glenn A. Eisenberg sold 11,711 shares of the stock in a transaction 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 owns 31,289 shares of the company’s stock, valued at $7,522,814.27. This represents a 27.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kerrii B. Anderson sold 1,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $230.00, for a total value of $230,000.00. Following the completion of the transaction, the director now owns 13,722 shares of the company’s stock, valued at $3,156,060. The trade was a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,572 shares of company stock worth $6,145,209. 0.85% of the stock is currently owned by corporate insiders.

Laboratory Co. of America Stock Down 0.9 %

LH opened at $232.12 on Friday. The firm has a market capitalization of $19.41 billion, a P/E ratio of 44.90, a price-to-earnings-growth ratio of 1.91 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 $247.99. The company has a fifty day moving average price of $234.59 and a 200-day moving average price of $224.49. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.44 and a quick ratio of 1.30.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter last year, the firm posted $3.38 EPS. The company’s revenue was up 7.4% compared to the same quarter last year. Equities research analysts expect that Laboratory Co. of America Holdings will post 14.52 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.24%. Laboratory Co. of America’s dividend payout ratio is presently 55.71%.

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.