Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Stack Financial Management Inc

Stack Financial Management Inc reduced its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 0.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 75,349 shares of the medical research company’s stock after selling 636 shares during the quarter. Laboratory Co. of America comprises approximately 1.6% of Stack Financial Management Inc’s holdings, making the stock its 29th biggest position. Stack Financial Management Inc’s holdings in Laboratory Co. of America were worth $17,279,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. SouthState Corp purchased a new stake in shares of Laboratory Co. of America in the third quarter worth about $28,000. Fortitude Family Office LLC lifted its holdings in 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 acquiring an additional 100 shares during the period. Concord Wealth Partners boosted its position in Laboratory Co. of America by 43.3% in the 3rd quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock worth $38,000 after purchasing an additional 52 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Laboratory Co. of America by 309.8% during the 4th quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock worth $39,000 after purchasing an additional 127 shares during the period. Finally, Human Investing LLC purchased a new position in shares of Laboratory Co. of America during the 4th quarter valued at approximately $39,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Trading Up 0.6 %

Shares of LH stock opened at $251.44 on Tuesday. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $258.59. The firm has a market capitalization of $21.03 billion, a P/E ratio of 28.51, a PEG ratio of 1.71 and a beta of 1.07. The stock’s fifty day moving average is $239.37 and its two-hundred day moving average is $232.01. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44.

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

Laboratory Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be issued a $0.72 dividend. The ex-dividend date is Thursday, February 27th. This represents a $2.88 annualized dividend and a dividend yield of 1.15%. Laboratory Co. of America’s dividend payout ratio is presently 32.65%.

Analysts Set New Price Targets

A number of analysts recently issued reports on LH shares. Piper Sandler increased their price target on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. HSBC raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Evercore ISI upgraded Laboratory Co. of America from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $260.00 to $265.00 in a research note on Tuesday, January 7th. Hsbc Global Res raised Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Finally, Jefferies Financial Group raised their price objective on Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Laboratory Co. of America presently has a consensus rating of “Moderate Buy” and a consensus price target of $265.31.

Insider Buying and Selling

In other news, Director Dwight Gary Gilliland sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $241.00, for a total transaction of $241,000.00. Following the completion of the sale, the director now owns 7,712 shares in the company, valued at $1,858,592. This trade represents a 11.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Adam H. Schechter sold 6,121 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 86,445 shares of the company’s stock, valued at approximately $21,146,175.90. This trade represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,832 shares of company stock worth $4,788,995. 0.85% of the stock is owned by corporate insiders.

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.