Assetmark Inc. Buys 6,968 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Assetmark Inc. lifted its stake in Laboratory Co. of America Holdings (NYSE:LH) by 13.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,192 shares of the medical research company’s stock after purchasing an additional 6,968 shares during the quarter. Assetmark Inc.’s holdings in Laboratory Co. of America were worth $13,115,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. SouthState Corp bought 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 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 acquiring an additional 100 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in 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 valued at $39,000 after acquiring an additional 127 shares in the last quarter. Human Investing LLC bought a new position in Laboratory Co. of America in the 4th quarter valued at approximately $39,000. Finally, Kennebec Savings Bank bought a new position in Laboratory Co. of America in the 3rd quarter valued at approximately $42,000. 95.94% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,121 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $244.62, for a total transaction of $1,497,319.02. Following the completion of the transaction, the chief executive officer now owns 86,445 shares of the company’s stock, valued at $21,146,175.90. This represents a 6.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kerrii B. Anderson sold 1,000 shares of the 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 transaction, the director now directly owns 12,722 shares of the company’s stock, valued at $2,989,670. This trade represents a 7.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,000 shares of company stock valued at $3,449,757. Company insiders own 0.85% of the company’s stock.

Wall Street Analysts Forecast Growth

LH has been the topic of several analyst reports. Citigroup raised Laboratory Co. of America from a “neutral” rating to a “buy” rating and upped their price objective for the company from $250.00 to $300.00 in a research report on Tuesday. Bank of America upped their price objective on Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Morgan Stanley upped their price objective 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. StockNews.com raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Finally, Jefferies Financial Group boosted 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. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Laboratory Co. of America presently has an average rating of “Moderate Buy” and a consensus target price of $268.38.

Laboratory Co. of America Trading Down 0.1 %

NYSE:LH opened at $253.92 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. The firm has a market capitalization of $21.25 billion, a price-to-earnings ratio of 28.79, a price-to-earnings-growth ratio of 1.71 and a beta of 1.07. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year high of $258.59. The business has a fifty day moving average price of $243.23 and a 200-day moving average price of $233.48.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, topping the consensus estimate 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%. Sell-side analysts forecast that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Dividend Announcement

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 issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.13%. The ex-dividend date is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio is currently 32.65%.

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.