Birch Hill Investment Advisors LLC Has $33.43 Million Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

Birch Hill Investment Advisors LLC boosted its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 2.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 143,644 shares of the medical research company’s stock after buying an additional 2,966 shares during the period. Laboratory Co. of America comprises 1.6% of Birch Hill Investment Advisors LLC’s investment portfolio, making the stock its 24th largest holding. Birch Hill Investment Advisors LLC owned about 0.17% of Laboratory Co. of America worth $33,432,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC acquired a new stake in shares of Laboratory Co. of America during the 4th quarter valued at $991,000. Asset Management One Co. Ltd. boosted its position in shares of Laboratory Co. of America by 3.8% in the fourth quarter. Asset Management One Co. Ltd. now owns 32,799 shares of the medical research company’s stock valued at $7,558,000 after acquiring an additional 1,205 shares during the period. Principal Securities Inc. increased its position in Laboratory Co. of America by 8.6% during the fourth quarter. Principal Securities Inc. now owns 5,324 shares of the medical research company’s stock worth $1,221,000 after acquiring an additional 421 shares during the period. Allworth Financial LP boosted its holdings in Laboratory Co. of America by 43.1% in the 4th quarter. Allworth Financial LP now owns 631 shares of the medical research company’s stock valued at $153,000 after purchasing an additional 190 shares during the period. Finally, Human Investing LLC acquired a new stake in Laboratory Co. of America in the 4th quarter worth $39,000. 95.94% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Kerrii B. Anderson sold 500 shares of Laboratory Co. of America stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $260.00, for a total value of $130,000.00. Following the sale, the director now directly owns 12,666 shares in the company, valued at $3,293,160. This trade represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Brian J. Caveney sold 2,000 shares of the business’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $247.00, for a total transaction of $494,000.00. Following the sale, the executive vice president now directly owns 30,067 shares in the company, valued at $7,426,549. This trade represents a 6.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,092 shares of company stock worth $2,971,820. Corporate insiders own 0.84% of the company’s stock.

Laboratory Co. of America Stock Performance

Shares of NYSE:LH opened at $263.95 on Tuesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30. Laboratory Co. of America Holdings has a fifty-two week low of $198.07 and a fifty-two week high of $264.03. The firm’s 50 day simple moving average is $241.51 and its 200 day simple moving average is $239.62. The company has a market capitalization of $22.09 billion, a price-to-earnings ratio of 29.93, a P/E/G ratio of 1.71 and a beta of 0.81.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings results on Tuesday, April 29th. The medical research company reported $3.84 EPS for the quarter, topping analysts’ consensus estimates of $3.73 by $0.11. The company had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.41 billion. Laboratory Co. of America had a return on equity of 15.29% and a net margin of 5.73%. Laboratory Co. of America’s revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm posted $3.68 earnings per share. As a group, sell-side analysts forecast that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Thursday, May 29th were paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.09%. Laboratory Co. of America’s payout ratio is presently 33.29%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on LH shares. Morgan Stanley raised their target price on Laboratory Co. of America from $270.00 to $283.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 11th. Citigroup upgraded Laboratory Co. of America from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $250.00 to $300.00 in a research note on Tuesday, March 4th. Robert W. Baird boosted their price target on shares of Laboratory Co. of America from $253.00 to $267.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. Redburn Atlantic assumed coverage on shares of Laboratory Co. of America in a report on Wednesday, April 2nd. They set a “buy” rating and a $276.00 price objective for the company. Finally, Wall Street Zen downgraded Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, April 18th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $274.00.

Laboratory Co. of America Profile

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.