Laboratory Co. of America Holdings (NYSE:LH) Shares Acquired by Willis Investment Counsel

Willis Investment Counsel increased its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 1.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 65,837 shares of the medical research company’s stock after buying an additional 834 shares during the period. Willis Investment Counsel’s holdings in Laboratory Co. of America were worth $15,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. SouthState Corp acquired a new position in shares of Laboratory Co. of America in the 3rd quarter valued at $28,000. Horizon Bancorp Inc. IN acquired a new position in shares of Laboratory Co. of America in the 3rd quarter valued at $29,000. Fortitude Family Office LLC grew 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 buying an additional 100 shares during the last quarter. Riverview Trust Co grew its position 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 buying an additional 107 shares during the last quarter. Finally, Concord Wealth Partners grew its position in Laboratory Co. of America by 43.3% in the 3rd quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock valued at $38,000 after buying an additional 52 shares during the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Adam H. Schechter sold 6,189 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $243.47, for a total value of $1,506,835.83. Following the completion of the transaction, the chief executive officer now owns 87,441 shares of the company’s stock, valued at approximately $21,289,260.27. The trade was a 6.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed 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 completion of the transaction, the executive vice president now directly owns 31,289 shares of the company’s stock, valued at $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 24,572 shares of company stock worth $5,915,209 in the last three months. Corporate insiders own 0.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on LH shares. Evercore ISI upgraded 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 research report on Tuesday, January 7th. Barclays lifted 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 report on Friday, October 25th. HSBC upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Robert W. Baird lifted their price objective on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Finally, Morgan Stanley lifted their price objective on shares of 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. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Laboratory Co. of America currently has a consensus rating of “Moderate Buy” and a consensus target price of $261.77.

Laboratory Co. of America Price Performance

Laboratory Co. of America stock opened at $249.39 on Monday. Laboratory Co. of America Holdings has a 52 week low of $191.97 and a 52 week 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 0.66. The firm’s 50-day simple moving average is $236.02 and its 200 day simple moving average is $228.63. The firm has a market capitalization of $20.86 billion, a PE ratio of 48.24, a P/E/G ratio of 1.86 and a beta of 1.07.

Laboratory Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be given a $0.72 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $2.88 annualized dividend and a dividend yield of 1.15%. Laboratory Co. of America’s dividend payout ratio is presently 55.71%.

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.