Signature Estate & Investment Advisors LLC Has $2.15 Million Stake in Laboratory Co. of America Holdings (NYSE:LH)

Signature Estate & Investment Advisors LLC lifted its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 3.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,384 shares of the medical research company’s stock after acquiring an additional 281 shares during the period. Signature Estate & Investment Advisors LLC’s holdings in Laboratory Co. of America were worth $2,152,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of LH. TIAA Trust National Association grew its stake in Laboratory Co. of America by 2.0% in the fourth quarter. TIAA Trust National Association now owns 3,787 shares of the medical research company’s stock valued at $868,000 after acquiring an additional 75 shares during the period. Hershey Financial Advisers LLC bought a new position in shares of Laboratory Co. of America in the 4th quarter worth $1,682,000. LPL Financial LLC grew its position in Laboratory Co. of America by 63.8% in the 4th quarter. LPL Financial LLC now owns 62,546 shares of the medical research company’s stock valued at $14,343,000 after purchasing an additional 24,357 shares during the period. KLP Kapitalforvaltning AS bought a new stake in Laboratory Co. of America during the 4th quarter valued at $6,860,000. Finally, Sei Investments Co. raised its holdings in Laboratory Co. of America by 12.4% during the fourth quarter. Sei Investments Co. now owns 223,162 shares of the medical research company’s stock worth $51,176,000 after buying an additional 24,616 shares during the last quarter. 95.94% of the stock is owned by institutional investors.

Laboratory Co. of America Stock Performance

NYSE LH opened at $233.55 on Wednesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44. The company has a market capitalization of $19.55 billion, a PE ratio of 26.48, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $258.59. The company has a 50-day simple moving average of $245.19 and a 200 day simple moving average of $234.49.

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

Laboratory Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Thursday, February 27th were issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.23%. The ex-dividend date was Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio (DPR) is currently 32.65%.

Insider Activity at Laboratory Co. of America

In related news, Director Kerrii B. Anderson sold 500 shares of the 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 owns 13,166 shares of the company’s stock, valued at approximately $3,365,624.58. This represents a 3.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO Amy B. Summy sold 226 shares of Laboratory Co. of America stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $250.40, for a total value of $56,590.40. Following the transaction, the chief marketing officer now directly owns 4,544 shares of the company’s stock, valued at $1,137,817.60. The trade was a 4.74 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,500 shares of company stock worth $3,577,572. Company insiders own 0.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Bank of America boosted their target price on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Piper Sandler increased their price objective on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. StockNews.com raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Barclays decreased their price target on Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating for the company in a report on Friday, February 7th. Finally, Citigroup upgraded Laboratory Co. of America from a “neutral” rating to a “buy” rating and raised their price objective for the company from $250.00 to $300.00 in a research note on Tuesday, March 4th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Laboratory Co. of America has a consensus rating of “Moderate Buy” and a consensus price target of $269.92.

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.