Norden Group LLC Buys 548 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Norden Group LLC lifted its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 21.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,154 shares of the medical research company’s stock after purchasing an additional 548 shares during the period. Norden Group LLC’s holdings in Laboratory Co. of America were worth $723,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. SouthState Corp purchased a new stake in shares of Laboratory Co. of America in the 3rd quarter worth approximately $28,000. Fortitude Family Office LLC lifted its position in shares of Laboratory Co. of America by 312.5% in the 4th quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock worth $30,000 after purchasing an additional 100 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of Laboratory Co. of America by 309.8% in the 4th quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock worth $39,000 after purchasing an additional 127 shares during the period. Human Investing LLC purchased a new stake in shares of Laboratory Co. of America in the 4th quarter worth approximately $39,000. Finally, Kennebec Savings Bank purchased a new stake in shares of Laboratory Co. of America in the 3rd quarter worth approximately $42,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. 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. Bank of America raised their target price 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. Jefferies Financial Group raised 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 research note on Thursday, February 6th. Morgan Stanley raised 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 note on Tuesday, December 17th. Finally, UBS Group lowered their target price on shares of Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $265.75.

Laboratory Co. of America Trading Up 1.2 %

NYSE:LH opened at $254.01 on Tuesday. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $258.59. The firm has a fifty day simple moving average of $241.72 and a 200-day simple moving average of $232.98. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $21.26 billion, a P/E ratio of 28.80, a PEG ratio of 1.71 and a beta of 1.07.

Laboratory Co. of America (NYSE:LH) last issued 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 5.73% and a return on equity of 15.29%. On average, equities research analysts anticipate that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th will be issued a $0.72 dividend. The ex-dividend date is Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a yield of 1.13%. Laboratory Co. of America’s payout ratio is 32.65%.

Insider Buying and Selling at Laboratory Co. of America

In other 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 transaction of $235,000.00. Following the completion of the sale, the director now owns 12,722 shares of the company’s stock, valued at $2,989,670. The trade was a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Der Vaart Sandra D. Van sold 1,314 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $251.30, for a total transaction of $330,208.20. Following the sale, the executive vice president now directly owns 2,171 shares of the company’s stock, valued at $545,572.30. This represents a 37.70 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,661 shares of company stock valued at $2,119,118. Corporate 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.