Paradigm Asset Management Co. LLC Has $2.04 Million Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

Paradigm Asset Management Co. LLC raised its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 1,676.6% during the fourth quarter, Holdings Channel reports. The firm owned 8,901 shares of the medical research company’s stock after buying an additional 8,400 shares during the period. Paradigm Asset Management Co. LLC’s holdings in Laboratory Co. of America were worth $2,041,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Private Trust Co. NA grew its position in shares of Laboratory Co. of America by 3.2% during the 3rd quarter. Private Trust Co. NA now owns 1,342 shares of the medical research company’s stock worth $300,000 after purchasing an additional 41 shares in the last quarter. Empowered Funds LLC grew its position in shares of Laboratory Co. of America by 0.5% during the 4th quarter. Empowered Funds LLC now owns 8,025 shares of the medical research company’s stock worth $1,840,000 after purchasing an additional 43 shares in the last quarter. Empirical Finance LLC grew its position in shares of Laboratory Co. of America by 1.7% during the 3rd quarter. Empirical Finance LLC now owns 3,055 shares of the medical research company’s stock worth $683,000 after purchasing an additional 50 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of Laboratory Co. of America by 16.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 354 shares of the medical research company’s stock worth $81,000 after purchasing an additional 50 shares in the last quarter. Finally, Concord Wealth Partners grew its position in shares of 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 worth $38,000 after purchasing an additional 52 shares in the last quarter. Institutional investors own 95.94% of the company’s stock.

Insider Buying and Selling

In other news, Director Dwight Gary Gilliland sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $241.00, for a total value of $241,000.00. Following the sale, the director now owns 7,712 shares of the company’s stock, valued at $1,858,592. The trade was a 11.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Adam H. Schechter sold 6,121 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $244.62, for a total transaction of $1,497,319.02. Following the completion of the sale, the chief executive officer now directly owns 86,445 shares in the company, valued at approximately $21,146,175.90. This trade represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,832 shares of company stock worth $4,788,995. 0.85% of the stock is owned by insiders.

Laboratory Co. of America Stock Up 0.5 %

Shares of NYSE LH opened at $249.15 on Friday. The stock has a market capitalization of $20.84 billion, a P/E ratio of 28.25, a P/E/G ratio of 1.70 and a beta of 1.07. The company has a 50-day moving average price of $238.23 and a 200-day moving average price of $231.42. 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 0.67, a current ratio of 1.44 and a quick ratio of 1.30.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings data 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%. On average, equities research analysts forecast that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio is currently 32.65%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on LH shares. Evercore ISI upgraded shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $260.00 to $265.00 in a research report on Tuesday, January 7th. Jefferies Financial Group raised their target price on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Piper Sandler raised their target price on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Robert W. Baird raised their price target on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, HSBC raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Three 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 company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $265.31.

Laboratory Co. of America Profile

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