Foster & Motley Inc. Increases Stake in Laboratory Co. of America Holdings (NYSE:LH)

Foster & Motley Inc. increased its position in Laboratory Co. of America Holdings (NYSE:LH) by 10.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 8,140 shares of the medical research company’s stock after acquiring an additional 769 shares during the quarter. Foster & Motley Inc.’s holdings in Laboratory Co. of America were worth $1,867,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. SouthState Corp purchased a new position in Laboratory Co. of America during the 3rd quarter valued at about $28,000. Horizon Bancorp Inc. IN purchased a new position in Laboratory Co. of America during the 3rd quarter valued at about $29,000. Fortitude Family Office LLC grew its holdings in Laboratory Co. of America by 312.5% during 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 in the last quarter. Riverview Trust Co grew its holdings in Laboratory Co. of America by 172.6% during 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 in the last quarter. Finally, Concord Wealth Partners grew its holdings in Laboratory Co. of America by 43.3% during 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 in the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Stock Performance

NYSE:LH opened at $251.39 on Friday. The business has a 50 day moving average of $235.60 and a 200 day moving average of $228.09. The company has a market capitalization of $21.03 billion, a price-to-earnings ratio of 48.62, a PEG ratio of 1.81 and a beta of 1.06. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $258.59. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.44 and a quick ratio of 1.30.

Laboratory Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 55.71%.

Wall Street Analysts Forecast Growth

LH has been the subject of a number of recent analyst reports. Robert W. Baird lifted their target price on Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a report on Friday, October 25th. HSBC upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. UBS Group dropped their price target on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating for the company in a research report on Tuesday. StockNews.com downgraded Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $275.00 price target (up previously from $265.00) on shares of Laboratory Co. of America in a research report on Tuesday, December 10th. Four equities research 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $261.77.

Insider Activity

In related news, CEO Adam H. Schechter sold 6,189 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $243.47, for a total transaction of $1,506,835.83. Following the completion of the transaction, the chief executive officer now owns 87,441 shares in the company, valued at $21,289,260.27. This represents a 6.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Glenn A. Eisenberg sold 11,711 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $240.43, for a total value of $2,815,675.73. Following the transaction, the executive vice president now owns 31,289 shares of the company’s stock, valued at approximately $7,522,814.27. This represents a 27.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,572 shares of company stock valued at $5,915,209. 0.85% of the stock is currently owned by company insiders.

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.