Forum Financial Management LP Has $564,000 Stake in Laboratory Co. of America Holdings (NYSE:LH)

Forum Financial Management LP increased its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 93.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,461 shares of the medical research company’s stock after acquiring an additional 1,192 shares during the quarter. Forum Financial Management LP’s holdings in Laboratory Co. of America were worth $564,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Barclays PLC lifted its position in 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 acquiring an additional 65,356 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Laboratory Co. of America by 9.5% during the third quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company’s stock worth $431,405,000 after purchasing an additional 167,137 shares during the period. Janney Montgomery Scott LLC lifted its holdings in Laboratory Co. of America by 5.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 33,219 shares of the medical research company’s stock worth $7,618,000 after purchasing an additional 1,723 shares during the last quarter. Brighton Jones LLC bought a new stake in Laboratory Co. of America in the 4th quarter valued at $991,000. Finally, CX Institutional bought a new stake in Laboratory Co. of America in the 4th quarter valued at $214,000. 95.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on LH. Truist Financial lifted their target price on Laboratory Co. of America from $274.00 to $290.00 and gave the stock a “buy” rating in a report on Monday, May 12th. Jefferies Financial Group lifted their price objective on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Citigroup raised shares of Laboratory Co. of America from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $250.00 to $300.00 in a report on Tuesday, March 4th. UBS Group lowered their target price on shares of Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Finally, Redburn Atlantic assumed coverage on shares of Laboratory Co. of America in a research report on Wednesday, April 2nd. They issued a “buy” rating and a $276.00 price target for the company. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $270.62.

Laboratory Co. of America Stock Performance

Shares of NYSE:LH opened at $242.69 on Monday. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $258.59. The stock has a market capitalization of $20.31 billion, a price-to-earnings ratio of 27.52, a price-to-earnings-growth ratio of 1.71 and a beta of 0.82. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30. The company’s 50 day simple moving average is $234.25 and its 200 day simple moving average is $238.19.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings data on Tuesday, April 29th. The medical research company reported $3.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.73 by $0.11. Laboratory Co. of America had a return on equity of 15.29% and a net margin of 5.73%. The company had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.41 billion. During the same quarter in the prior year, the firm posted $3.68 earnings per share. The firm’s revenue was up 5.3% compared to the same quarter last year. As a group, 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 disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Thursday, May 29th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.19%. Laboratory Co. of America’s payout ratio is 33.29%.

Insider Buying and Selling

In other Laboratory Co. of America news, EVP Amy B. Summy sold 758 shares of the firm’s stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $231.67, for a total transaction of $175,605.86. Following the completion of the transaction, the executive vice president now owns 5,302 shares in the company, valued at approximately $1,228,314.34. This trade represents a 12.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Der Vaart Sandra D. Van sold 1,314 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $251.30, for a total transaction of $330,208.20. Following the completion of the sale, the executive vice president now directly owns 2,171 shares in the company, valued at approximately $545,572.30. This represents a 37.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,745 shares of company stock valued at $4,136,482 in the last three months. Insiders own 0.84% of the company’s stock.

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.