Corient Private Wealth LLC Sells 959 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Corient Private Wealth LLC lowered its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 2.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 32,883 shares of the medical research company’s stock after selling 959 shares during the period. Corient Private Wealth LLC’s holdings in Laboratory Co. of America were worth $7,541,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Empowered Funds LLC increased its stake in shares of Laboratory Co. of America by 8.2% in the 3rd quarter. Empowered Funds LLC now owns 7,982 shares of the medical research company’s stock worth $1,784,000 after purchasing an additional 608 shares in the last quarter. Mutual of America Capital Management LLC bought a new stake in Laboratory Co. of America during the third quarter valued at about $2,316,000. Pathstone Holdings LLC increased its position in Laboratory Co. of America by 124.5% in the third quarter. Pathstone Holdings LLC now owns 10,165 shares of the medical research company’s stock worth $2,272,000 after buying an additional 5,637 shares in the last quarter. SouthState Corp bought a new position in shares of Laboratory Co. of America in the third quarter worth about $28,000. Finally, Banque Cantonale Vaudoise bought a new position in shares of Laboratory Co. of America during the 3rd quarter valued at approximately $461,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Insider Transactions 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 stock was sold at an average price of $244.62, for a total value of $1,497,319.02. Following the completion of the sale, the chief executive officer now directly owns 86,445 shares in the company, valued at $21,146,175.90. This represents a 6.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Mark S. Schroeder sold 5,339 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $249.23, for a total transaction of $1,330,638.97. Following the completion of the sale, the chief operating officer now directly owns 4,960 shares of the company’s stock, valued at $1,236,180.80. This represents a 51.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,500 shares of company stock valued at $3,577,572 over the last ninety days. Insiders own 0.85% of the company’s stock.

Laboratory Co. of America Trading Down 1.7 %

Shares of NYSE:LH opened at $235.60 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $258.59. The business has a 50 day moving average of $245.13 and a two-hundred day moving average of $234.25. The company has a market capitalization of $19.72 billion, a PE ratio of 26.71, a PEG ratio of 1.71 and a beta of 1.12.

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 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%. As a group, analysts forecast that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have weighed in on LH shares. Barclays dropped their price target 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 report on Friday, February 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 boosted 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. Bank of America increased their target price on Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, Citigroup raised Laboratory Co. of America from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $250.00 to $300.00 in a report on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $268.38.

About Laboratory Co. of America

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