Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Amalgamated Bank

Amalgamated Bank cut its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 2.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 16,055 shares of the medical research company’s stock after selling 446 shares during the quarter. Amalgamated Bank’s holdings in Laboratory Co. of America were worth $3,682,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of LH. SouthState Corp acquired a new position in shares of Laboratory Co. of America in the 3rd quarter valued at $28,000. Fortitude Family Office LLC lifted its stake in 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 valued at $30,000 after buying an additional 100 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings 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 worth $39,000 after buying an additional 127 shares during the period. Human Investing LLC purchased a new position in shares of Laboratory Co. of America in the fourth quarter worth approximately $39,000. Finally, Kennebec Savings Bank purchased a new position in shares of Laboratory Co. of America in the third quarter worth approximately $42,000. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on LH shares. StockNews.com upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Piper Sandler increased their target price on Laboratory Co. of America from $240.00 to $260.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Morgan Stanley lifted their price target on Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. UBS Group dropped their price target on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Finally, Jefferies Financial Group raised their price objective on Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Laboratory Co. of America presently has a consensus rating of “Moderate Buy” and an average target price of $265.75.

Insider Activity

In other Laboratory Co. of America news, 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 transaction of $1,497,319.02. Following the completion of the sale, the chief executive officer now owns 86,445 shares of the company’s stock, valued at $21,146,175.90. This represents a 6.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Der Vaart Sandra D. Van sold 1,314 shares of Laboratory Co. of America stock in a transaction that occurred on Tuesday, February 25th. The shares were 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 directly owns 2,171 shares in the company, valued at approximately $545,572.30. This represents a 37.70 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,372 shares of company stock valued at $5,175,793. Insiders own 0.85% of the company’s stock.

Laboratory Co. of America Trading Up 1.5 %

NYSE:LH opened at $251.45 on Friday. The company has a market capitalization of $21.03 billion, a P/E ratio of 28.51, a P/E/G ratio of 1.71 and a beta of 1.07. The stock’s 50 day moving average price is $241.20 and its 200 day moving average price is $232.64. 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 Holdings has a 52 week low of $191.97 and a 52 week high of $258.59.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share for the quarter, beating 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%. On average, research analysts forecast that Laboratory Co. of America Holdings will post 16.01 EPS 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. Stockholders of record on Thursday, February 27th will be paid a dividend of $0.72 per share. 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 (DPR) is presently 32.65%.

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.