Simon Quick Advisors LLC Purchases Shares of 2,022 Laboratory Co. of America Holdings (NYSE:LH)

Simon Quick Advisors LLC acquired a new position in Laboratory Co. of America Holdings (NYSE:LH) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,022 shares of the medical research company’s stock, valued at approximately $464,000.

A number of other large investors have also recently made changes to their positions in the stock. SouthState Corp purchased a new stake in Laboratory Co. of America in the 3rd quarter worth approximately $28,000. Horizon Bancorp Inc. IN purchased a new stake in shares of Laboratory Co. of America in the third quarter worth $29,000. Fortitude Family Office LLC raised its position in shares of 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 valued at $30,000 after purchasing an additional 100 shares during the period. Riverview Trust Co lifted its stake in shares of Laboratory Co. of America by 172.6% during the 3rd quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock valued at $38,000 after buying an additional 107 shares in the last quarter. Finally, Concord Wealth Partners boosted its holdings in Laboratory Co. of America by 43.3% in the 3rd quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock worth $38,000 after buying an additional 52 shares during the period. 95.94% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,189 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 87,441 shares in the company, valued at $21,289,260.27. This represents a 6.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 1,000 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $239.42, for a total transaction of $239,420.00. Following the completion of the sale, the executive vice president now directly owns 2,670 shares of the company’s stock, valued at approximately $639,251.40. This trade represents a 27.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,572 shares of company stock valued at $5,915,209 over the last 90 days. Insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Performance

NYSE LH opened at $242.47 on Thursday. The business’s 50 day moving average price is $234.69 and its 200-day moving average price is $226.44. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $247.99. The company has a market cap of $20.28 billion, a P/E ratio of 46.90, a P/E/G ratio of 1.78 and a beta of 1.06. 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 announced its earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.48 by $0.02. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.26 billion. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.38 earnings per share. Sell-side analysts predict that Laboratory Co. of America Holdings will post 14.51 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be given a $0.72 dividend. 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 currently 55.71%.

Wall Street Analyst Weigh In

A number of research firms have commented on LH. Robert W. Baird raised their price target on Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Bank of America boosted their price target on Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Evercore ISI raised shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $260.00 to $265.00 in a report on Tuesday, January 7th. HSBC raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. Finally, StockNews.com cut shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Four equities research 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 stock. Based on data from MarketBeat.com, Laboratory Co. of America has an average rating of “Moderate Buy” and an average target price of $260.54.

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.