Envestnet Portfolio Solutions Inc. Buys 525 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Envestnet Portfolio Solutions Inc. grew its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 5.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 10,069 shares of the medical research company’s stock after acquiring an additional 525 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Laboratory Co. of America were worth $2,309,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Private Trust Co. NA lifted its position in shares of Laboratory Co. of America by 3.2% during the 3rd quarter. Private Trust Co. NA now owns 1,342 shares of the medical research company’s stock valued at $300,000 after acquiring an additional 41 shares during the period. Empowered Funds LLC lifted its position in shares of Laboratory Co. of America by 0.5% during the 4th quarter. Empowered Funds LLC now owns 8,025 shares of the medical research company’s stock valued at $1,840,000 after acquiring an additional 43 shares during the period. SP Asset Management LLC lifted its position in shares of Laboratory Co. of America by 0.3% during the 4th quarter. SP Asset Management LLC now owns 15,186 shares of the medical research company’s stock valued at $3,483,000 after acquiring an additional 43 shares during the period. Oppenheimer Asset Management Inc. lifted its position in shares of Laboratory Co. of America by 0.4% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 12,780 shares of the medical research company’s stock valued at $2,931,000 after acquiring an additional 45 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its position in shares of Laboratory Co. of America by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 7,194 shares of the medical research company’s stock valued at $1,650,000 after acquiring an additional 46 shares during the period. 95.94% of the stock is currently owned by institutional investors.

Laboratory Co. of America Price Performance

LH opened at $235.60 on Friday. The stock has a 50-day moving average price of $245.13 and a 200-day moving average price of $234.25. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $258.59. 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 stock has a market capitalization of $19.72 billion, a P/E ratio of 26.71, a PEG ratio of 1.71 and a beta of 1.12.

Laboratory Co. of America (NYSE:LH) last issued its earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share for the quarter, beating the consensus estimate 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%. Equities analysts predict that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th were given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend was Thursday, February 27th. Laboratory Co. of America’s payout ratio is 32.65%.

Insider Buying and Selling at Laboratory Co. of America

In related news, EVP Der Vaart Sandra D. Van sold 1,314 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $251.30, for a total transaction of $330,208.20. Following the completion of the transaction, the executive vice president now owns 2,171 shares of the company’s stock, valued at $545,572.30. This trade represents a 37.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kerrii B. Anderson sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $255.63, for a total value of $127,815.00. Following the transaction, the director now directly owns 13,166 shares of the company’s stock, valued at approximately $3,365,624.58. This trade represents a 3.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,500 shares of company stock valued at $3,577,572 in the last 90 days. Insiders own 0.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on LH. Citigroup upgraded Laboratory Co. of America from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $250.00 to $300.00 in a research report on Tuesday, March 4th. 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 report on Friday, February 7th. Bank of America upped their price objective on Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. 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 report on Tuesday, January 28th. Finally, StockNews.com upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $268.38.

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.