559 Shares in Laboratory Co. of America Holdings (NYSE:LH) Acquired by NBC Securities Inc.

NBC Securities Inc. bought a new position in shares of Laboratory Co. of America Holdings (NYSE:LH) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 559 shares of the medical research company’s stock, valued at approximately $130,000.

Several other hedge funds also recently made changes to their positions in the business. Empowered Funds LLC grew its stake in shares of Laboratory Co. of America by 0.5% during the 4th quarter. Empowered Funds LLC now owns 8,025 shares of the medical research company’s stock worth $1,840,000 after acquiring an additional 43 shares in the last quarter. SP Asset Management LLC grew its stake in shares of Laboratory Co. of America by 0.3% during the 4th quarter. SP Asset Management LLC now owns 15,186 shares of the medical research company’s stock worth $3,483,000 after acquiring an additional 43 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Laboratory Co. of America by 0.4% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 12,780 shares of the medical research company’s stock worth $2,931,000 after acquiring an additional 45 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Laboratory Co. of America by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 7,194 shares of the medical research company’s stock worth $1,650,000 after acquiring an additional 46 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators grew its stake in shares of Laboratory Co. of America by 28.2% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 232 shares of the medical research company’s stock worth $53,000 after acquiring an additional 51 shares in the last quarter. 95.94% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Der Vaart Sandra D. Van sold 1,900 shares of Laboratory Co. of America stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $238.36, for a total value of $452,884.00. Following the transaction, the executive vice president now directly owns 2,244 shares of the company’s stock, valued at $534,879.84. The trade was a 45.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Brian J. Caveney sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $247.00, for a total value of $494,000.00. Following the completion of the transaction, the executive vice president now directly owns 30,067 shares in the company, valued at approximately $7,426,549. This trade represents a 6.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,592 shares of company stock valued at $2,841,820 in the last ninety days. 0.84% of the stock is currently owned by insiders.

Laboratory Co. of America Stock Performance

Laboratory Co. of America stock opened at $255.74 on Tuesday. Laboratory Co. of America Holdings has a 12-month low of $192.38 and a 12-month high of $258.59. 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 business’s 50-day moving average price is $237.68 and its two-hundred day moving average price is $238.92. The stock has a market cap of $21.41 billion, a PE ratio of 29.00, a P/E/G ratio of 1.71 and a beta of 0.81.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings data on Tuesday, April 29th. The medical research company reported $3.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.73 by $0.11. Laboratory Co. of America had a net margin of 5.73% and a return on equity of 15.29%. The business had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.41 billion. During the same quarter last year, the business earned $3.68 EPS. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, analysts expect that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Thursday, May 29th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.13%. Laboratory Co. of America’s payout ratio is 33.29%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Citigroup raised shares of Laboratory Co. of America from a “neutral” rating to a “buy” rating and raised their price target for the stock from $250.00 to $300.00 in a research note on Tuesday, March 4th. Truist Financial raised their target price on shares of Laboratory Co. of America from $274.00 to $290.00 and gave the company a “buy” rating in a research note on Monday, May 12th. Barclays raised their target price on shares of Laboratory Co. of America from $240.00 to $250.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 30th. Robert W. Baird raised their target price on shares of Laboratory Co. of America from $253.00 to $267.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. Finally, Piper Sandler reissued a “neutral” rating and issued a $280.00 target price (up from $260.00) on shares of Laboratory Co. of America in a research note on Tuesday, May 6th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $272.92.

About Laboratory Co. of America

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.