Mcrae Capital Management Inc. Purchases 1,295 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Mcrae Capital Management Inc. raised its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 1.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 84,446 shares of the medical research company’s stock after acquiring an additional 1,295 shares during the quarter. Laboratory Co. of America makes up about 3.8% of Mcrae Capital Management Inc.’s investment portfolio, making the stock its 9th largest position. Mcrae Capital Management Inc.’s holdings in Laboratory Co. of America were worth $19,365,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in LH. SouthState Corp bought a new stake in Laboratory Co. of America in the third quarter worth $28,000. Horizon Bancorp Inc. IN acquired a new position in Laboratory Co. of America during the 3rd quarter worth $29,000. Fortitude Family Office LLC boosted its holdings 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 valued at $30,000 after acquiring an additional 100 shares during the period. Riverview Trust Co grew its position in shares of Laboratory Co. of America by 172.6% in the third quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock valued at $38,000 after purchasing an additional 107 shares during the last quarter. Finally, Concord Wealth Partners increased its stake in shares of Laboratory Co. of America by 43.3% in the third quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock worth $38,000 after purchasing an additional 52 shares during the period. 95.94% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 1,000 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $239.42, for a total value of $239,420.00. Following the transaction, the executive vice president now owns 2,670 shares of the company’s stock, valued at approximately $639,251.40. The trade was a 27.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Adam H. Schechter sold 6,121 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were 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 owns 86,445 shares of the company’s stock, valued at approximately $21,146,175.90. This trade represents a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,504 shares of company stock valued at $5,905,692. 0.85% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Piper Sandler increased their target price on Laboratory Co. of America from $240.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday. Morgan Stanley increased 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. Hsbc Global Res raised shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Barclays reduced their price target on shares of Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating for the company in a report on Friday, February 7th. Finally, Bank of America raised their price target on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Laboratory Co. of America presently has an average rating of “Moderate Buy” and an average target price of $265.31.

Laboratory Co. of America Trading Up 1.7 %

Shares of LH opened at $245.31 on Friday. The stock has a 50 day simple moving average of $236.92 and a 200-day simple moving average of $230.55. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67. The stock has a market cap of $20.52 billion, a PE ratio of 27.81, a PEG ratio of 1.84 and a beta of 1.07. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $258.59.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings data 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 return on equity of 15.29% and a net margin of 5.73%. On average, sell-side analysts predict that Laboratory Co. of America Holdings will post 15.96 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th will be given 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 1.17%. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 32.65%.

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.