Spire Wealth Management Acquires New Position in Laboratory Co. of America Holdings (NYSE:LH)

Spire Wealth Management acquired a new stake in Laboratory Co. of America Holdings (NYSE:LH) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 639 shares of the medical research company’s stock, valued at approximately $147,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of LH. State Street Corp raised its position in Laboratory Co. of America by 0.7% during the 3rd quarter. State Street Corp now owns 3,726,627 shares of the medical research company’s stock worth $832,827,000 after buying an additional 25,469 shares during the last quarter. Diamond Hill Capital Management Inc. raised its position in Laboratory Co. of America by 1.5% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,978,686 shares of the medical research company’s stock worth $442,197,000 after buying an additional 29,046 shares during the last quarter. Geode Capital Management LLC raised its position in Laboratory Co. of America by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,964,743 shares of the medical research company’s stock worth $437,561,000 after buying an additional 13,298 shares during the last quarter. JPMorgan Chase & Co. raised its position in Laboratory Co. of America by 9.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company’s stock worth $431,405,000 after buying an additional 167,137 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position 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 buying an additional 263,105 shares during the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Laboratory Co. of America Trading Down 0.6 %

Shares of LH opened at $246.18 on Friday. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $258.59. 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’s fifty day moving average is $236.56 and its two-hundred day moving average is $229.47. The stock has a market cap of $20.59 billion, a PE ratio of 47.62, a price-to-earnings-growth ratio of 1.86 and a beta of 1.07.

Laboratory Co. of America (NYSE:LH) last announced its earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.40 by $0.05. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. Research analysts forecast that Laboratory Co. of America Holdings will post 14.51 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. Stockholders of record on Thursday, February 27th will be issued 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 dividend yield of 1.17%. Laboratory Co. of America’s dividend payout ratio is presently 55.71%.

Wall Street Analyst Weigh In

LH has been the subject of several recent research reports. Piper Sandler lifted their target price on shares of Laboratory Co. of America from $235.00 to $240.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Hsbc Global Res raised shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Jefferies Financial Group lifted their target price on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a report on Thursday. Bank of America lifted their price target on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, StockNews.com raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Friday. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $263.77.

Insider Transactions at Laboratory Co. of America

In related news, Director Kerrii B. Anderson sold 1,000 shares of the business’s 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 in the company, valued at approximately $2,989,670. The trade was a 7.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Adam H. Schechter sold 6,189 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $243.47, for a total transaction of $1,506,835.83. Following the completion of the sale, the chief executive officer now owns 87,441 shares in the company, valued at approximately $21,289,260.27. This trade represents a 6.61 % 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 worth $5,915,209 in the last quarter. Company insiders own 0.85% of the company’s stock.

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.