Laboratory Co. of America Holdings (NYSE:LH) Shares Purchased by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. boosted its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 96.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 22,070 shares of the medical research company’s stock after acquiring an additional 10,834 shares during the period. Tocqueville Asset Management L.P.’s holdings in Laboratory Co. of America were worth $5,061,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. SouthState Corp purchased a new stake in shares of Laboratory Co. of America during the third quarter worth approximately $28,000. 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 worth $30,000 after acquiring an additional 100 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of Laboratory Co. of America by 309.8% in the 4th quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock valued at $39,000 after purchasing an additional 127 shares during the last quarter. Human Investing LLC purchased a new stake in shares of Laboratory Co. of America during the 4th quarter worth $39,000. Finally, True Wealth Design LLC lifted its position in shares of Laboratory Co. of America by 3,660.0% during the 3rd quarter. True Wealth Design LLC now owns 188 shares of the medical research company’s stock worth $42,000 after purchasing an additional 183 shares during the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Insider Buying and Selling

In other news, Director Kerrii B. Anderson sold 500 shares of Laboratory Co. of America stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $255.63, for a total transaction of $127,815.00. Following the sale, the director now directly owns 13,166 shares of the company’s stock, valued at approximately $3,365,624.58. The trade was a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Adam H. Schechter sold 6,121 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $244.62, for a total value of $1,497,319.02. Following the completion of the transaction, the chief executive officer now directly owns 86,445 shares of the company’s stock, valued at $21,146,175.90. This represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,500 shares of company stock valued at $3,577,572. Corporate insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Down 0.3 %

Shares of NYSE LH opened at $239.63 on Wednesday. The firm’s 50-day moving average is $244.99 and its two-hundred day moving average is $234.21. The company has a market capitalization of $20.06 billion, a PE ratio of 27.17, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month 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 earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share for the quarter, topping the consensus estimate 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 anticipate that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Thursday, February 27th were issued a dividend of $0.72 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $2.88 annualized dividend and a dividend yield of 1.20%. Laboratory Co. of America’s payout ratio is currently 32.65%.

Analyst Ratings Changes

A number of analysts have weighed in on LH shares. Bank of America raised their price target 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. Piper Sandler raised their target price on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. UBS Group decreased their target price on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Barclays dropped their price target on shares of 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. Finally, Morgan Stanley boosted their price objective on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $268.38.

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.