SP Asset Management LLC Has $3.48 Million Stock Holdings in Laboratory Co. of America Holdings (NYSE:LH)

SP Asset Management LLC increased its position in Laboratory Co. of America Holdings (NYSE:LH) by 0.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,186 shares of the medical research company’s stock after buying an additional 43 shares during the period. SP Asset Management LLC’s holdings in Laboratory Co. of America were worth $3,483,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in LH. Carmel Capital Partners LLC boosted its stake in shares of Laboratory Co. of America by 9.0% in the 4th quarter. Carmel Capital Partners LLC now owns 6,605 shares of the medical research company’s stock worth $1,515,000 after buying an additional 547 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Laboratory Co. of America in the 4th quarter worth approximately $33,779,000. Arizona State Retirement System boosted its stake in shares of Laboratory Co. of America by 1.0% in the 4th quarter. Arizona State Retirement System now owns 24,388 shares of the medical research company’s stock worth $5,593,000 after buying an additional 237 shares during the last quarter. Verdence Capital Advisors LLC boosted its stake in shares of Laboratory Co. of America by 124.5% in the 4th quarter. Verdence Capital Advisors LLC now owns 4,296 shares of the medical research company’s stock worth $985,000 after buying an additional 2,382 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in shares of Laboratory Co. of America in the 4th quarter worth approximately $16,512,000. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Der Vaart Sandra D. Van sold 1,314 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $251.30, for a total transaction of $330,208.20. Following the completion of the transaction, the executive vice president now directly owns 2,171 shares in the company, valued at $545,572.30. The trade was a 37.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Mark S. Schroeder sold 5,339 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $249.23, for a total transaction of $1,330,638.97. Following the completion of the transaction, the chief operating officer now owns 4,960 shares of the company’s stock, valued at $1,236,180.80. This trade represents a 51.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,000 shares of company stock worth $3,449,757 in the last three months. Corporate insiders own 0.85% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on LH shares. Barclays cut their target price 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. Piper Sandler lifted their price target on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Citigroup raised shares of Laboratory Co. of America from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $250.00 to $300.00 in a report on Tuesday. Bank of America lifted 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 report on Friday, December 13th. Finally, UBS Group lowered their price target on shares of Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $268.38.

Laboratory Co. of America Trading Down 1.0 %

Shares of LH stock opened at $254.31 on Thursday. The company’s fifty day simple moving average is $242.77 and its two-hundred day simple moving average is $233.34. 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 1 year low of $191.97 and a 1 year high of $258.59. The stock has a market capitalization of $21.29 billion, a price-to-earnings ratio of 28.83, a PEG ratio of 1.71 and a beta of 1.07.

Laboratory Co. of America (NYSE:LH) last issued its earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.40 by $0.05. Laboratory Co. of America had a net margin of 5.73% and a return on equity of 15.29%. As a group, analysts anticipate that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.13%. Laboratory Co. of America’s dividend payout ratio (DPR) is currently 32.65%.

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.