Bryn Mawr Capital Management LLC Raises Stock Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Bryn Mawr Capital Management LLC boosted its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 51.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 1,495 shares of the medical research company’s stock after acquiring an additional 506 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Laboratory Co. of America were worth $343,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in LH. State Street Corp increased its stake in shares of Laboratory Co. of America by 0.7% in the third quarter. State Street Corp now owns 3,726,627 shares of the medical research company’s stock worth $832,827,000 after acquiring an additional 25,469 shares during the period. Diamond Hill Capital Management Inc. grew 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 purchasing an additional 29,046 shares during the period. Geode Capital Management LLC grew 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 purchasing an additional 13,298 shares during the period. JPMorgan Chase & Co. raised its stake in shares of 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 valued at $431,405,000 after buying an additional 167,137 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Laboratory Co. of America by 2.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,916,505 shares of the medical research company’s stock valued at $437,357,000 after buying an additional 51,045 shares during the period. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on LH. Morgan Stanley lifted their price target on Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. 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, February 6th. UBS Group lowered their price target on shares of Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Evercore ISI raised shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $260.00 to $265.00 in a report on Tuesday, January 7th. Finally, Piper Sandler increased their target price on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $265.31.

Laboratory Co. of America Stock Performance

Shares of NYSE:LH opened at $249.86 on Friday. The company has a debt-to-equity ratio of 0.67, 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 $258.59. The firm has a market capitalization of $20.90 billion, a PE ratio of 28.33, a P/E/G ratio of 1.70 and a beta of 1.07. The business’s 50 day moving average price is $238.57 and its 200-day moving average price is $231.55.

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 5.73% and a return on equity of 15.29%. As a group, equities research analysts expect that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The firm 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 1.15%. Laboratory Co. of America’s payout ratio is 32.65%.

Insiders Place Their Bets

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,121 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $244.62, for a total value of $1,497,319.02. Following the completion of the sale, the chief executive officer now directly owns 86,445 shares of the company’s stock, valued at $21,146,175.90. This trade represents a 6.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Glenn A. Eisenberg sold 11,711 shares of the business’s stock in a transaction dated 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. The trade was a 27.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,832 shares of company stock valued at $4,788,995 in the last ninety days. 0.85% of the stock is currently owned by corporate insiders.

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.