Envestnet Asset Management Inc. Grows Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

Envestnet Asset Management Inc. boosted its position in Laboratory Co. of America Holdings (NYSE:LH) by 3.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 294,141 shares of the medical research company’s stock after buying an additional 9,432 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.35% of Laboratory Co. of America worth $67,452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Graney & King LLC purchased a new position in shares of Laboratory Co. of America in the fourth quarter valued at $26,000. Fortitude Family Office LLC grew its position in shares of Laboratory Co. of America by 312.5% in the fourth quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 100 shares in the last quarter. Geneos Wealth Management Inc. grew its position in shares of Laboratory Co. of America by 309.8% in the fourth quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock valued at $39,000 after purchasing an additional 127 shares in the last quarter. Human Investing LLC purchased a new position in shares of Laboratory Co. of America in the fourth quarter valued at $39,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of Laboratory Co. of America in the fourth quarter valued at $44,000. 95.94% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, EVP Amy B. Summy sold 758 shares of the company’s stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $231.67, for a total transaction of $175,605.86. Following the transaction, the executive vice president now owns 5,302 shares in the company, valued at approximately $1,228,314.34. This represents a 12.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adam H. Schechter sold 6,121 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $244.62, for a total value of $1,497,319.02. Following the transaction, the chief executive officer now owns 86,445 shares in the company, valued at $21,146,175.90. This trade represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,258 shares of company stock worth $3,518,177 in the last 90 days. Company insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Up 6.0 %

LH opened at $230.84 on Thursday. The company has a market cap of $19.32 billion, a P/E ratio of 26.17, a P/E/G ratio of 1.71 and a beta of 0.99. The business’s 50-day moving average price is $241.12 and its 200-day moving average price is $234.80. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $258.59.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.40 by $0.05. Laboratory Co. of America had a return on equity of 15.29% and a net margin of 5.73%. On average, equities analysts expect that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on LH shares. Barclays dropped their price objective on Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating for the company in a research note on Friday, February 7th. Piper Sandler lifted their price objective on Laboratory Co. of America from $240.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. UBS Group dropped their price objective on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Citigroup raised Laboratory Co. of America from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $250.00 to $300.00 in a research note on Tuesday, March 4th. Finally, Redburn Atlantic started coverage on Laboratory Co. of America in a research note on Wednesday, April 2nd. They set a “buy” rating and a $276.00 price objective for the company. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $270.38.

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.