Burney Co. Has $2.15 Million Stock Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Burney Co. lowered its stake in Laboratory Co. of America Holdings (NYSE:LH) by 1.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,353 shares of the medical research company’s stock after selling 104 shares during the quarter. Burney Co.’s holdings in Laboratory Co. of America were worth $2,145,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of LH. OneDigital Investment Advisors LLC increased its position in shares of Laboratory Co. of America by 115.7% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 6,088 shares of the medical research company’s stock worth $1,361,000 after purchasing an additional 3,265 shares during the last quarter. Alexander Randolph Advisory Inc. acquired a new position in Laboratory Co. of America in the 3rd quarter valued at $955,000. Mutual of America Capital Management LLC bought a new position in Laboratory Co. of America during the 3rd quarter worth $2,316,000. Banyan Capital Management Inc. increased its position in Laboratory Co. of America by 8.4% during the 2nd quarter. Banyan Capital Management Inc. now owns 37,781 shares of the medical research company’s stock worth $7,689,000 after buying an additional 2,925 shares during the period. Finally, Barclays PLC lifted its holdings in shares of Laboratory Co. of America by 11.8% during the third quarter. Barclays PLC now owns 620,721 shares of the medical research company’s stock worth $138,718,000 after buying an additional 65,356 shares in the last quarter. Institutional investors own 95.94% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on LH shares. Barclays upped their price target on shares of Laboratory Co. of America from $234.00 to $249.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Evercore ISI upgraded shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $260.00 to $265.00 in a research report on Tuesday, January 7th. Hsbc Global Res upgraded shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Piper Sandler increased their price target on Laboratory Co. of America from $235.00 to $240.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Finally, Bank of America raised their price objective on Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Four investment 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $260.54.

Laboratory Co. of America Price Performance

Laboratory Co. of America stock opened at $237.20 on Thursday. The stock has a fifty day moving average of $234.84 and a 200-day moving average of $225.18. The stock has a market capitalization of $19.84 billion, a P/E ratio of 45.88, a price-to-earnings-growth ratio of 1.91 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 Holdings has a 52 week low of $191.97 and a 52 week high of $247.99.

Laboratory Co. of America (NYSE:LH) last issued its earnings results on Thursday, October 24th. The medical research company reported $3.50 EPS for the quarter, topping the consensus estimate of $3.48 by $0.02. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter in the previous year, the firm earned $3.38 earnings per share. The business’s quarterly revenue was up 7.4% on a year-over-year basis. On average, sell-side analysts expect that Laboratory Co. of America Holdings will post 14.52 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.21%. Laboratory Co. of America’s payout ratio is presently 55.71%.

Insider Transactions at Laboratory Co. of America

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,189 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $243.47, for a total transaction of $1,506,835.83. Following the sale, the chief executive officer now directly owns 87,441 shares of the company’s stock, valued at $21,289,260.27. The trade was a 6.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kerrii B. Anderson sold 1,000 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $230.00, for a total transaction of $230,000.00. Following the transaction, the director now directly owns 13,722 shares of the company’s stock, valued at $3,156,060. The trade was a 6.79 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,572 shares of company stock worth $6,145,209. Corporate insiders own 0.85% of the company’s stock.

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.