Glenview Trust co Has $514,000 Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Glenview Trust co cut its stake in Laboratory Co. of America Holdings (NYSE:LH) by 30.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,240 shares of the medical research company’s stock after selling 964 shares during the period. Glenview Trust co’s holdings in Laboratory Co. of America were worth $514,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Private Trust Co. NA boosted its stake in Laboratory Co. of America by 3.2% in the 3rd quarter. Private Trust Co. NA now owns 1,342 shares of the medical research company’s stock worth $300,000 after purchasing an additional 41 shares during the period. Empowered Funds LLC boosted its stake in Laboratory Co. of America by 0.5% in the 4th quarter. Empowered Funds LLC now owns 8,025 shares of the medical research company’s stock worth $1,840,000 after purchasing an additional 43 shares during the period. SP Asset Management LLC boosted its stake in shares of Laboratory Co. of America by 0.3% during the 4th quarter. SP Asset Management LLC now owns 15,186 shares of the medical research company’s stock worth $3,483,000 after buying an additional 43 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Laboratory Co. of America by 0.4% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 12,780 shares of the medical research company’s stock worth $2,931,000 after buying an additional 45 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in shares of Laboratory Co. of America by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 7,194 shares of the medical research company’s stock worth $1,650,000 after buying an additional 46 shares during the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Laboratory Co. of America

In other news, CEO Adam H. Schechter sold 6,121 shares of the firm’s stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kerrii B. Anderson sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $255.63, for a total transaction of $127,815.00. Following the transaction, the director now directly owns 13,166 shares in the company, valued at $3,365,624.58. This represents a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,500 shares of company stock valued at $3,577,572 in the last three months. 0.85% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Evercore ISI upgraded shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $260.00 to $265.00 in a research note on Tuesday, January 7th. Jefferies Financial Group increased their price objective on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Citigroup upgraded shares of Laboratory Co. of America from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $250.00 to $300.00 in a research note on Tuesday, March 4th. Barclays reduced their price objective 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, February 7th. Finally, Piper Sandler increased their price objective on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Laboratory Co. of America currently has a consensus rating of “Moderate Buy” and a consensus price target of $268.38.

Laboratory Co. of America Stock Up 0.4 %

Shares of LH stock opened at $240.43 on Tuesday. The stock has a market cap of $20.12 billion, a price-to-earnings ratio of 27.26, a PEG ratio of 1.71 and a beta of 1.12. 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. The firm’s 50-day moving average is $244.90 and its 200-day moving average is $234.14.

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 the consensus estimate 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%. Sell-side analysts predict 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. Shareholders of record on Thursday, February 27th were issued a $0.72 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $2.88 annualized dividend and a yield of 1.20%. Laboratory Co. of America’s dividend payout ratio is currently 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.