NorthCrest Asset Manangement LLC Has $9.36 Million Holdings in Laboratory Co. of America Holdings (NYSE:LH)

NorthCrest Asset Manangement LLC lifted its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 0.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 40,197 shares of the medical research company’s stock after purchasing an additional 335 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Laboratory Co. of America were worth $9,355,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of LH. Norges Bank acquired a new position in shares of Laboratory Co. of America during the fourth quarter worth $239,811,000. Select Equity Group L.P. lifted its holdings in shares of Laboratory Co. of America by 150.9% during the fourth quarter. Select Equity Group L.P. now owns 1,595,957 shares of the medical research company’s stock worth $365,985,000 after purchasing an additional 959,981 shares during the period. Amundi lifted its holdings in shares of Laboratory Co. of America by 344.9% during the fourth quarter. Amundi now owns 1,123,409 shares of the medical research company’s stock worth $263,161,000 after purchasing an additional 870,903 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Laboratory Co. of America by 37,334.2% during the first quarter. GAMMA Investing LLC now owns 809,702 shares of the medical research company’s stock worth $188,450,000 after purchasing an additional 807,539 shares during the period. Finally, Madison Investment Advisors LLC acquired a new position in shares of Laboratory Co. of America during the fourth quarter worth $123,415,000. Institutional investors and hedge funds own 95.94% of the company’s stock.

Insider Activity

In related news, Director Kerrii B. Anderson sold 500 shares of the business’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $260.00, for a total transaction of $130,000.00. Following the transaction, the director now directly owns 12,666 shares in the company, valued at approximately $3,293,160. The trade was a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Peter J. Wilkinson sold 829 shares of the business’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $242.26, for a total transaction of $200,833.54. Following the transaction, the chief accounting officer now owns 2,054 shares in the company, valued at approximately $497,602.04. This trade represents a 28.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,092 shares of company stock worth $2,971,820 over the last three months. 0.84% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

LH has been the topic of a number of recent research reports. Truist Financial lifted their price target on shares of Laboratory Co. of America from $274.00 to $290.00 and gave the stock a “buy” rating in a report on Monday, May 12th. Redburn Atlantic initiated coverage on shares of Laboratory Co. of America in a research note on Wednesday, April 2nd. They set a “buy” rating and a $276.00 target price for the company. Citigroup raised shares of Laboratory Co. of America from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $250.00 to $300.00 in a research note on Tuesday, March 4th. Wall Street Zen downgraded shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, April 18th. Finally, Barclays lifted their target price on shares of Laboratory Co. of America from $240.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 30th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $274.00.

Laboratory Co. of America Trading Up 0.6%

LH opened at $261.63 on Friday. Laboratory Co. of America Holdings has a 1-year low of $192.38 and a 1-year high of $262.13. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67. The company has a market cap of $21.90 billion, a P/E ratio of 29.66, a price-to-earnings-growth ratio of 1.71 and a beta of 0.81. The company has a fifty day moving average price of $239.71 and a two-hundred day moving average price of $239.34.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings results on Tuesday, April 29th. The medical research company reported $3.84 earnings per share for the quarter, beating the consensus estimate of $3.73 by $0.11. Laboratory Co. of America had a net margin of 5.73% and a return on equity of 15.29%. The firm had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.41 billion. During the same period in the previous year, the firm posted $3.68 earnings per share. The business’s revenue was up 5.3% compared to the same quarter last year. 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 firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Thursday, May 29th were issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.10%. Laboratory Co. of America’s dividend payout ratio is currently 33.29%.

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.