Deseret Mutual Benefit Administrators Buys 51 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Deseret Mutual Benefit Administrators increased its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 28.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 232 shares of the medical research company’s stock after acquiring an additional 51 shares during the period. Deseret Mutual Benefit Administrators’ holdings in Laboratory Co. of America were worth $53,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. OneDigital Investment Advisors LLC raised its holdings in Laboratory Co. of America by 115.7% during the third quarter. OneDigital Investment Advisors LLC now owns 6,088 shares of the medical research company’s stock worth $1,361,000 after acquiring an additional 3,265 shares in the last quarter. Alexander Randolph Advisory Inc. bought a new stake in Laboratory Co. of America during the third quarter worth about $955,000. Wealthcare Advisory Partners LLC raised its holdings in Laboratory Co. of America by 23.9% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 2,543 shares of the medical research company’s stock worth $583,000 after acquiring an additional 490 shares in the last quarter. Mutual of America Capital Management LLC bought a new stake in Laboratory Co. of America during the third quarter worth about $2,316,000. Finally, Bryn Mawr Capital Management LLC raised its holdings in Laboratory Co. of America by 51.2% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 1,495 shares of the medical research company’s stock worth $343,000 after acquiring an additional 506 shares in the last quarter. Institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Stock Up 0.3 %

NYSE LH opened at $249.86 on Friday. The business has a fifty day moving average price of $238.93 and a two-hundred day moving average price of $231.69. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $258.59. The stock has a market capitalization of $20.90 billion, a PE ratio of 28.33, a PEG ratio of 1.71 and a beta of 1.07.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, beating analysts’ consensus estimates 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%. Equities analysts expect that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio is currently 32.65%.

Insider Buying and Selling

In related news, Director Kerrii B. Anderson sold 1,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $235.00, for a total transaction of $235,000.00. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Glenn A. Eisenberg sold 11,711 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $240.43, for a total value of $2,815,675.73. Following the sale, the executive vice president now owns 31,289 shares of the company’s stock, valued at approximately $7,522,814.27. The trade was a 27.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,832 shares of company stock valued at $4,788,995 in the last three months. Insiders own 0.85% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Jefferies Financial Group upped their price objective on 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. Barclays dropped their price objective on Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating on the stock in a research note on Friday, February 7th. UBS Group dropped their price objective on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. 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 note on Friday, December 13th. Finally, Hsbc Global Res upgraded Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Laboratory Co. of America has an average rating of “Moderate Buy” and an average target price of $265.31.

Laboratory Co. of America Company Profile

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