Daymark Wealth Partners LLC Purchases 61 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Daymark Wealth Partners LLC boosted its position in Laboratory Co. of America Holdings (NYSE:LH) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,995 shares of the medical research company’s stock after acquiring an additional 61 shares during the period. Daymark Wealth Partners LLC’s holdings in Laboratory Co. of America were worth $1,833,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LH. State Street Corp boosted its position in shares of Laboratory Co. of America by 0.7% in the 3rd quarter. State Street Corp now owns 3,726,627 shares of the medical research company’s stock worth $832,827,000 after purchasing an additional 25,469 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its stake in Laboratory Co. of America by 1.5% in the third quarter. Diamond Hill Capital Management Inc. now owns 1,978,686 shares of the medical research company’s stock valued at $442,197,000 after buying an additional 29,046 shares during the period. Geode Capital Management LLC boosted its holdings in Laboratory Co. of America by 0.7% during the third quarter. Geode Capital Management LLC now owns 1,964,743 shares of the medical research company’s stock worth $437,561,000 after buying an additional 13,298 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Laboratory Co. of America by 9.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company’s stock worth $431,405,000 after buying an additional 167,137 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Laboratory Co. of America by 16.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,865,460 shares of the medical research company’s stock valued at $416,893,000 after acquiring an additional 263,105 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Laboratory Co. of America

In other news, EVP Der Vaart Sandra D. Van sold 1,000 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $239.42, for a total transaction of $239,420.00. Following the transaction, the executive vice president now owns 2,670 shares in the company, valued at approximately $639,251.40. This trade represents a 27.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Adam H. Schechter sold 6,189 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $243.47, for a total value of $1,506,835.83. Following the completion of the sale, the chief executive officer now owns 87,441 shares of the company’s stock, valued at $21,289,260.27. This trade represents a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,572 shares of company stock worth $5,915,209 over the last ninety days. Insiders own 0.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on LH shares. Morgan Stanley increased their target price on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Bank of America raised their price objective on Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Jefferies Financial Group reissued a “buy” rating and issued a $275.00 target price (up from $265.00) on shares of Laboratory Co. of America in a research note on Tuesday, December 10th. Piper Sandler raised their price target on Laboratory Co. of America from $235.00 to $240.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Finally, Robert W. Baird boosted their price objective on Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Laboratory Co. of America presently has a consensus rating of “Moderate Buy” and a consensus target price of $260.54.

Laboratory Co. of America Stock Down 0.6 %

Shares of LH stock opened at $242.47 on Thursday. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $247.99. The stock has a market cap of $20.28 billion, a price-to-earnings ratio of 46.90, a PEG ratio of 1.82 and a beta of 1.06. The firm’s 50-day moving average is $234.69 and its 200-day moving average is $226.44. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.44.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings data on Thursday, October 24th. The medical research company reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.48 by $0.02. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The business’s revenue was up 7.4% on a year-over-year basis. During the same period last year, the firm posted $3.38 earnings per share. Sell-side analysts predict that Laboratory Co. of America Holdings will post 14.51 EPS for the current year.

Laboratory Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.19%. Laboratory Co. of America’s dividend payout ratio (DPR) is 55.71%.

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.