Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by PGGM Investments

PGGM Investments trimmed its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 8.2% in the fourth quarter, HoldingsChannel reports. The firm owned 19,777 shares of the medical research company’s stock after selling 1,760 shares during the period. PGGM Investments’ holdings in Laboratory Co. of America were worth $4,535,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of LH. SouthState Corp purchased a new position in Laboratory Co. of America during the third quarter worth $28,000. Fortitude Family Office LLC boosted its stake 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 valued at $30,000 after acquiring an additional 100 shares during the last quarter. Geneos Wealth Management Inc. increased its position in 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 in the last quarter. Human Investing LLC acquired a new position in Laboratory Co. of America in the 4th quarter valued at about $39,000. Finally, True Wealth Design LLC lifted its holdings in Laboratory Co. of America by 3,660.0% in the 3rd quarter. True Wealth Design LLC now owns 188 shares of the medical research company’s stock valued at $42,000 after purchasing an additional 183 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Laboratory Co. of America Trading Down 0.6 %

Shares of LH stock opened at $235.45 on Friday. 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’s 50 day moving average price is $244.47 and its two-hundred day moving average price is $233.94. The stock has a market cap of $19.71 billion, a price-to-earnings ratio of 26.69, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67.

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 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%. On average, analysts anticipate that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have recently commented on LH. Bank of America lifted their price target on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Evercore ISI raised shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $260.00 to $265.00 in a research note on Tuesday, January 7th. Morgan Stanley increased their price target on Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. 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 report on Monday, February 10th. Finally, Barclays reduced their target price on Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating on the stock in a research report on Friday, February 7th. Three equities research 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $268.38.

Laboratory Co. of America Company Profile

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.