Wealth Enhancement Advisory Services LLC Purchases 71 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Wealth Enhancement Advisory Services LLC increased its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 0.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,275 shares of the medical research company’s stock after acquiring an additional 71 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Laboratory Co. of America were worth $4,531,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of LH. Private Trust Co. NA increased its position in shares of 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 purchasing an additional 41 shares during the last quarter. Empirical Finance LLC increased its stake in shares of Laboratory Co. of America by 1.7% during the 3rd quarter. Empirical Finance LLC now owns 3,055 shares of the medical research company’s stock worth $683,000 after purchasing an additional 50 shares during the last quarter. Concord Wealth Partners raised its holdings in shares of Laboratory Co. of America by 43.3% in the 3rd quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock worth $38,000 after purchasing an additional 52 shares during the period. Rehmann Capital Advisory Group grew 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 valued at $637,000 after purchasing an additional 53 shares during the period. Finally, First Horizon Advisors Inc. increased its position in Laboratory Co. of America by 2.1% in the third quarter. First Horizon Advisors Inc. now owns 2,773 shares of the medical research company’s stock worth $620,000 after buying an additional 58 shares during the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Laboratory Co. of America Stock Performance

Shares of LH opened at $234.16 on Tuesday. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $247.99. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66. The company has a market cap of $19.58 billion, a PE ratio of 45.29, a price-to-earnings-growth ratio of 1.91 and a beta of 1.06. The stock has a 50-day moving average price of $234.73 and a 200-day moving average price of $224.96.

Laboratory Co. of America (NYSE:LH) last announced its earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.48 by $0.02. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.26 billion. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. Laboratory Co. of America’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the previous year, the business posted $3.38 earnings per share. As a group, equities analysts forecast 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors 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 1.23%. Laboratory Co. of America’s dividend payout ratio is presently 55.71%.

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 that occurred on Thursday, October 24th. The shares were sold at an average price of $230.00, for a total value of $230,000.00. Following the completion of the sale, the director now directly owns 13,722 shares in the company, valued at approximately $3,156,060. The trade was a 6.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Glenn A. Eisenberg sold 11,711 shares of the stock in a transaction on Monday, December 2nd. The shares were 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 directly owns 31,289 shares in the company, valued at approximately $7,522,814.27. This represents a 27.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,572 shares of company stock worth $6,145,209 over the last 90 days. Corporate insiders own 0.85% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on LH. Piper Sandler upped their price target on Laboratory Co. of America from $235.00 to $240.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Barclays increased their target price on shares of Laboratory Co. of America from $234.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Hsbc Global Res raised shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Evercore ISI raised shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $260.00 to $265.00 in a report on Tuesday, January 7th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $275.00 target price (up previously from $265.00) on shares of Laboratory Co. of America in a report on Tuesday, December 10th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $260.54.

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.