Private Advisor Group LLC Increases Stake in Laboratory Co. of America Holdings

During the fourth quarter, Private Advisor Group LLC boosted its holdings in Laboratory Co. of America Holdings (NYSE:LH – Free Report) by 10.0%. According to the latest filing with the Securities and Exchange Commission (SEC), the firm now owns a total of 9,255 shares of the medical research company’s stock, having purchased an additional 845 shares during this period. Private Advisor Group LLC's investment in Laboratory Co. of America is currently valued at approximately $2.12 million.

Other significant investment firms have recently adjusted their positions in Laboratory Co. of America. For instance, FMR LLC increased its holdings by 17.0% during the third quarter, now owning 1,586,397 shares, worth around $354.53 million after acquiring 230,708 additional shares in the last quarter. JPMorgan Chase & Co. also raised its stake in the company by 9.5%, now holding 1,930,395 shares valued at $431.41 million following their purchase of an extra 167,137 shares. Furthermore, Massachusetts Financial Services Co. MA increased its stake by 22.4%, owning 577,189 shares worth approximately $128.99 million after buying 105,443 shares. River Road Asset Management LLC raised its holdings by 37.8%, and now possesses 284,097 shares valued at $63.49 million after purchasing 77,921 shares in the last quarter. Lastly, Nordea Investment Management AB grew its stake by 7.0% in the fourth quarter, owning 1,052,927 shares valued at $243.32 million after buying 68,974 additional shares. Overall, institutional investors and hedge funds control approximately 95.94% of the company’s stock.

Insider Transactions at Laboratory Co. of America

In related news, Director Kerrii B. Anderson made a sale of 1,000 shares on January 7, receiving an average price of $235.00, resulting in a total transaction value of $235,000. Following this sale, Anderson holds 12,722 shares valued at about $2.99 million, reflecting a 7.29% decrease in their ownership. CEO Adam H. Schechter also sold some shares, offloading 6,121 shares on February 11 for an average price of $244.62, totaling nearly $1.50 million. Following this transaction, Schechter maintains ownership of 86,445 shares, valued at $21.15 million, signifying a decrease of 6.61% in their stake. In total, insiders have sold 19,832 shares over the past ninety days for a value of almost $4.79 million, with corporate insiders owning about 0.85% of the stock.

Analyst Insights and Ratings

Various analysts have recently provided insights on Laboratory Co. of America. HSBC Global Research upgraded its rating from “hold” to “strong-buy” in a research report. Meanwhile, Barclays adjusted its price target, lowering it from $271.00 to $260.00 and assigning an “equal weight” rating. Additionally, Bank of America adjusted its target price from $262.00 to $271.00, giving the stock a “buy” rating. Evercore ISI also raised its rating from “in-line” to “outperform,” increasing the price target from $260.00 to $265.00. Based on market analysis, three analysts have given a hold rating, thirteen assigned buy ratings, and one analyst provided a strong buy rating for the company. The consensus rating for Laboratory Co. of America is classified as a “Moderate Buy” with an average target price of $265.31.

Stock Performance Overview

Shares of Laboratory Co. of America opened at $253.07. The company has a market capitalization of $21.17 billion, with a PE ratio of 28.69. The firm maintains a current ratio of 1.44 and a quick ratio of 1.30, with its debt-to-equity ratio registered at 0.67. The stock has experienced fluctuations, with a fifty-two week low of $191.97 and a high of $258.59. Recently, Laboratory Co. of America reported its quarterly earnings on February 6, indicating earnings of $3.45 per share, surpassing the expected consensus of $3.40. The company reported a net margin of 5.73% alongside a return on equity of 15.29%. Analysts predict Laboratory Co. of America will achieve an earnings per share (EPS) of 16.01 for the ongoing year.

Dividend Announcement

The company has also declared a quarterly dividend, scheduled for payment on March 12. Shareholders of record as of February 27 will receive a dividend of $0.72 per share, amounting to an annualized dividend of $2.88, which represents a yield of 1.14%. The ex-dividend date is set for February 27. Currently, the company has a dividend payout ratio of 32.65%.

About Laboratory Co. of America

Laboratory Co. of America Holdings, also known as Labcorp, offers medical testing services. Established on April 16, 2024, the company is headquartered in Burlington, North Carolina.

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