Laboratory Co. of America Holdings (NYSE:LH) Shares Bought by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp lifted its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 0.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 93,317 shares of the medical research company’s stock after buying an additional 387 shares during the period. Peapack Gladstone Financial Corp’s holdings in Laboratory Co. of America were worth $21,399,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Graney & King LLC purchased a new stake in Laboratory Co. of America during the 4th quarter valued at approximately $26,000. Fortitude Family Office LLC raised its stake in shares of Laboratory Co. of America by 312.5% during the fourth quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock worth $30,000 after purchasing an additional 100 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Laboratory Co. of America by 309.8% during the fourth quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock worth $39,000 after purchasing an additional 127 shares during the last quarter. Human Investing LLC purchased a new position in Laboratory Co. of America in the 4th quarter valued at $39,000. Finally, Heck Capital Advisors LLC acquired a new position in Laboratory Co. of America in the 4th quarter valued at $44,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on LH shares. Evercore ISI upgraded shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $260.00 to $265.00 in a research note on Tuesday, January 7th. StockNews.com upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Sunday. Barclays dropped 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 report on Friday, February 7th. Jefferies Financial Group raised their price target on Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Finally, Bank of America upped their price objective 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. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Laboratory Co. of America currently has a consensus rating of “Moderate Buy” and an average target price of $270.38.

Insider Activity

In other news, CMO Amy B. Summy sold 226 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $250.40, for a total value of $56,590.40. Following the completion of the transaction, the chief marketing officer now owns 4,544 shares of the company’s stock, valued at $1,137,817.60. The trade was a 4.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Adam H. Schechter sold 6,121 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $244.62, for a total transaction of $1,497,319.02. Following the sale, the chief executive officer now 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. Insiders have sold 15,258 shares of company stock worth $3,753,177 over the last three months. 0.85% of the stock is currently owned by corporate insiders.

Laboratory Co. of America Price Performance

Laboratory Co. of America stock opened at $222.49 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67. The firm’s 50-day simple moving average is $243.63 and its 200 day simple moving average is $234.90. Laboratory Co. of America Holdings has a 52 week low of $191.97 and a 52 week high of $258.59. The firm has a market capitalization of $18.62 billion, a PE ratio of 25.23, a P/E/G ratio of 1.71 and a beta of 1.12.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, beating the consensus estimate 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 predict that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th were issued a $0.72 dividend. The ex-dividend date was Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.29%. Laboratory Co. of America’s dividend payout ratio (DPR) is 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.