Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Equitable Trust Co.

Equitable Trust Co. reduced its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 8.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 80,165 shares of the medical research company’s stock after selling 7,622 shares during the period. Laboratory Co. of America makes up approximately 1.0% of Equitable Trust Co.’s investment portfolio, making the stock its 22nd biggest holding. Equitable Trust Co.’s holdings in Laboratory Co. of America were worth $18,383,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. SouthState Corp acquired a new position in Laboratory Co. of America during the third quarter valued at $28,000. Horizon Bancorp Inc. IN acquired a new position in Laboratory Co. of America during the third quarter valued at $29,000. Fortitude Family Office LLC lifted its position 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 purchasing an additional 100 shares during the period. Riverview Trust Co lifted its position in Laboratory Co. of America by 172.6% during the third quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock valued at $38,000 after purchasing an additional 107 shares during the period. Finally, Concord Wealth Partners increased its holdings in Laboratory Co. of America by 43.3% in the third quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock valued at $38,000 after buying an additional 52 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Laboratory Co. of America

In related news, Director Dwight Gary Gilliland sold 1,000 shares of the stock in a transaction 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 represents a 11.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Glenn A. Eisenberg sold 11,711 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $240.43, for a total transaction of $2,815,675.73. Following the sale, the executive vice president now owns 31,289 shares of the company’s stock, valued at approximately $7,522,814.27. This represents a 27.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,383 shares of company stock valued at $4,408,373 in the last ninety days. Insiders own 0.85% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on LH shares. HSBC raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. Evercore ISI raised shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $260.00 to $265.00 in a research note on Tuesday, January 7th. Barclays cut their target price on shares of Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating for the company in a research note on Friday. UBS Group cut their target price on shares of Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Finally, Piper Sandler boosted their target price on shares of Laboratory Co. of America from $235.00 to $240.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Laboratory Co. of America has an average rating of “Moderate Buy” and a consensus target price of $263.77.

Laboratory Co. of America Price Performance

Laboratory Co. of America stock opened at $246.18 on Monday. The firm has a market cap of $20.59 billion, a PE ratio of 27.91, a price-to-earnings-growth ratio of 1.84 and a beta of 1.07. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $258.59. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67. The company’s 50 day moving average is $236.67 and its two-hundred day moving average is $229.85.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 EPS 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 expect that Laboratory Co. of America Holdings will post 15.96 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio (DPR) is 32.65%.

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.