Sanctuary Advisors LLC Has $3.35 Million Stake in Laboratory Co. of America Holdings (NYSE:LH)

Sanctuary Advisors LLC reduced its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 1.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 13,300 shares of the medical research company’s stock after selling 156 shares during the quarter. Sanctuary Advisors LLC’s holdings in Laboratory Co. of America were worth $3,346,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Allworth Financial LP boosted its stake in shares of Laboratory Co. of America by 43.1% during the 4th quarter. Allworth Financial LP now owns 631 shares of the medical research company’s stock worth $153,000 after acquiring an additional 190 shares during the period. Principal Securities Inc. grew its stake in shares of Laboratory Co. of America by 8.6% in the fourth quarter. Principal Securities Inc. now owns 5,324 shares of the medical research company’s stock valued at $1,221,000 after acquiring an additional 421 shares in the last quarter. Mcrae Capital Management Inc. boosted its stake in shares of Laboratory Co. of America by 1.6% in the fourth quarter. Mcrae Capital Management Inc. now owns 84,446 shares of the medical research company’s stock valued at $19,365,000 after buying an additional 1,295 shares during the period. Asset Management One Co. Ltd. increased its stake in Laboratory Co. of America by 3.8% during the 4th quarter. Asset Management One Co. Ltd. now owns 32,799 shares of the medical research company’s stock worth $7,558,000 after acquiring an additional 1,205 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in Laboratory Co. of America by 2.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,916,505 shares of the medical research company’s stock valued at $437,357,000 after acquiring an additional 51,045 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on LH shares. Jefferies Financial Group increased their target price on Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Hsbc Global Res raised shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Robert W. Baird increased their price target on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Evercore ISI upgraded shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $260.00 to $265.00 in a research report on Tuesday, January 7th. Finally, Morgan Stanley raised their target price 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. 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $265.31.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,121 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $244.62, for a total transaction of $1,497,319.02. Following the sale, the chief executive officer now owns 86,445 shares of the company’s stock, valued at approximately $21,146,175.90. This represents a 6.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Glenn A. Eisenberg sold 11,711 shares of Laboratory Co. of America stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $240.43, for a total value of $2,815,675.73. Following the completion of the transaction, the executive vice president now directly owns 31,289 shares of the company’s stock, valued at approximately $7,522,814.27. This trade represents a 27.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,832 shares of company stock valued at $4,788,995. 0.85% of the stock is currently owned by company insiders.

Laboratory Co. of America Price Performance

Shares of LH opened at $249.86 on Friday. The business has a 50-day simple moving average of $238.57 and a two-hundred day simple moving average of $231.55. The stock has a market cap of $20.90 billion, a PE ratio of 28.33, a PEG ratio of 1.70 and a beta of 1.07. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month 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.

Laboratory Co. of America (NYSE:LH) last announced its earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) for the quarter, topping 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%. Analysts anticipate that Laboratory Co. of America Holdings will post 16.01 earnings per share 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 issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Thursday, February 27th. Laboratory Co. of America’s payout ratio 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.