Arkadios Wealth Advisors Raises Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Arkadios Wealth Advisors increased its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 27.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,041 shares of the medical research company’s stock after purchasing an additional 443 shares during the period. Arkadios Wealth Advisors’ holdings in Laboratory Co. of America were worth $468,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. SouthState Corp acquired a new position in shares of Laboratory Co. of America in the third quarter worth $28,000. Horizon Bancorp Inc. IN purchased a new stake in Laboratory Co. of America during the 3rd quarter worth about $29,000. Fortitude Family Office LLC raised its stake in 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 valued at $30,000 after purchasing an additional 100 shares during the last quarter. Riverview Trust Co lifted its holdings in Laboratory Co. of America by 172.6% in the 3rd quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock valued at $38,000 after purchasing an additional 107 shares in the last quarter. Finally, Concord Wealth Partners grew its holdings 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 worth $38,000 after buying an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Insider Transactions at Laboratory Co. of America

In related news, Director Kerrii B. Anderson sold 1,000 shares of Laboratory Co. of America stock in a transaction 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 owns 13,722 shares in the company, valued at approximately $3,156,060. The trade was a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 owns 31,289 shares in the company, valued at $7,522,814.27. This trade represents a 27.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,572 shares of company stock valued at $6,145,209. 0.85% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on LH. Barclays upped their price objective on shares of Laboratory Co. of America from $234.00 to $249.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Hsbc Global Res upgraded Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. HSBC upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. StockNews.com cut Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Finally, Morgan Stanley increased their price objective on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $260.54.

Laboratory Co. of America Price Performance

Shares of NYSE LH opened at $244.39 on Wednesday. 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 Holdings has a 1-year low of $191.97 and a 1-year high of $247.99. The company has a market capitalization of $20.44 billion, a price-to-earnings ratio of 47.27, a PEG ratio of 1.78 and a beta of 1.06. The business has a 50-day moving average of $234.69 and a 200-day moving average of $226.15.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings data 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. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter last year, the company earned $3.38 earnings per share. Laboratory Co. of America’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, equities analysts anticipate that Laboratory Co. of America Holdings will post 14.51 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

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 given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.18%. Laboratory Co. of America’s payout ratio is currently 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.