Verdence Capital Advisors LLC Raises Stock Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Verdence Capital Advisors LLC boosted its stake in Laboratory Co. of America Holdings (NYSE:LH) by 124.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,296 shares of the medical research company’s stock after buying an additional 2,382 shares during the period. Verdence Capital Advisors LLC’s holdings in Laboratory Co. of America were worth $985,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SouthState Corp purchased a new stake in Laboratory Co. of America during the third quarter worth about $28,000. Fortitude Family Office LLC increased its stake in Laboratory Co. of America by 312.5% during the fourth 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. increased its stake in Laboratory Co. of America by 309.8% during the fourth 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 Laboratory Co. of America during the fourth quarter worth about $39,000. Finally, Kennebec Savings Bank purchased a new stake in Laboratory Co. of America during the third quarter worth about $42,000. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Laboratory Co. of America Stock Performance

Shares of LH opened at $254.31 on Thursday. The stock has a 50 day moving average price of $242.77 and a 200 day moving average price of $233.34. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $21.29 billion, a price-to-earnings ratio of 28.83, a price-to-earnings-growth ratio of 1.71 and a beta of 1.07. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $258.59.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.40 by $0.05. Laboratory Co. of America had a return on equity of 15.29% and a net margin of 5.73%. Research analysts predict that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

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

Insider Activity

In other news, CEO Adam H. Schechter sold 6,121 shares of the stock in a transaction that occurred 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 approximately $21,146,175.90. This represents a 6.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Amy B. Summy sold 226 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $250.40, for a total value of $56,590.40. Following the sale, the chief marketing officer now directly owns 4,544 shares of the company’s stock, valued at approximately $1,137,817.60. This represents a 4.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,000 shares of company stock valued at $3,449,757. 0.85% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. UBS Group cut 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 research note on Tuesday, January 28th. Jefferies Financial Group upped their target price on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Barclays cut their target price on shares of Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating on the stock in a research note on Friday, February 7th. Citigroup upgraded shares of Laboratory Co. of America from a “neutral” rating to a “buy” rating and upped their target price for the stock from $250.00 to $300.00 in a research note on Tuesday. Finally, Piper Sandler upped 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, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $268.38.

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.