abrdn plc Has $15.83 Million Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

abrdn plc cut its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 10.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 68,727 shares of the medical research company’s stock after selling 8,272 shares during the quarter. abrdn plc owned approximately 0.08% of Laboratory Co. of America worth $15,832,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SouthState Corp bought a new stake in shares of Laboratory Co. of America during the 3rd quarter valued at approximately $28,000. Horizon Bancorp Inc. IN bought a new stake in shares of Laboratory Co. of America during the third quarter worth $29,000. Fortitude Family Office LLC increased its holdings in shares of Laboratory Co. of America by 312.5% during the fourth quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock worth $30,000 after buying an additional 100 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Laboratory Co. of America by 309.8% in the 4th quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock valued at $39,000 after acquiring an additional 127 shares during the last quarter. Finally, Riverview Trust Co boosted its holdings in shares of Laboratory Co. of America by 172.6% during the 3rd quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock valued at $38,000 after acquiring an additional 107 shares in the last quarter. Institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Stock Down 1.1 %

LH stock opened at $247.33 on Friday. The stock’s 50 day simple moving average is $236.46 and its 200 day simple moving average is $229.34. The company has a market cap of $20.69 billion, a P/E ratio of 47.84, a price-to-earnings-growth ratio of 1.86 and a beta of 1.07. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.44. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $258.59.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $3.40 by $0.05. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. On average, research analysts expect that Laboratory Co. of America Holdings will post 14.51 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Thursday, February 27th. Laboratory Co. of America’s payout ratio is presently 55.71%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on LH shares. Barclays upped their target price on Laboratory Co. of America from $249.00 to $271.00 and gave the stock an “equal weight” rating in a report on Monday. Bank of America upped their price objective on Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a research note on Friday, December 13th. StockNews.com downgraded shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Evercore ISI raised Laboratory Co. of America from an “in-line” rating to an “outperform” rating and increased their price target for the company from $260.00 to $265.00 in a research note on Tuesday, January 7th. Finally, Jefferies Financial Group raised their price target on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a report on Thursday. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $264.62.

Insider Buying and Selling

In other news, EVP Glenn A. Eisenberg sold 11,711 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $240.43, for a total value of $2,815,675.73. Following the completion of the sale, the executive vice president now owns 31,289 shares in the company, valued at $7,522,814.27. This represents a 27.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kerrii B. Anderson sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total transaction of $235,000.00. Following the transaction, the director now directly owns 12,722 shares in the company, valued at $2,989,670. The trade was a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,572 shares of company stock worth $5,915,209 in the last quarter. Insiders own 0.85% of the company’s stock.

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.