Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Te Ahumairangi Investment Management Ltd

Te Ahumairangi Investment Management Ltd cut its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 13.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 22,207 shares of the medical research company’s stock after selling 3,390 shares during the period. Te Ahumairangi Investment Management Ltd’s holdings in Laboratory Co. of America were worth $5,093,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of LH. Capital City Trust Co. FL boosted its stake in Laboratory Co. of America by 1.5% in the fourth quarter. Capital City Trust Co. FL now owns 15,553 shares of the medical research company’s stock valued at $3,567,000 after acquiring an additional 223 shares during the period. Wealthcare Advisory Partners LLC lifted its holdings in shares of Laboratory Co. of America by 23.9% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 2,543 shares of the medical research company’s stock worth $583,000 after purchasing an additional 490 shares during the last quarter. Bryn Mawr Capital Management LLC boosted its position in Laboratory Co. of America by 51.2% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 1,495 shares of the medical research company’s stock valued at $343,000 after purchasing an additional 506 shares during the period. Barclays PLC grew its stake in Laboratory Co. of America by 11.8% during the 3rd quarter. Barclays PLC now owns 620,721 shares of the medical research company’s stock worth $138,718,000 after buying an additional 65,356 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in Laboratory Co. of America by 7.0% in the fourth quarter. Nordea Investment Management AB now owns 1,052,927 shares of the medical research company’s stock worth $243,321,000 after buying an additional 68,974 shares during the period. Institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Trading Down 0.0 %

Shares of LH stock opened at $232.63 on Wednesday. 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 stock has a 50-day simple moving average of $244.45 and a 200 day simple moving average of $234.86. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $258.59. The stock has a market capitalization of $19.47 billion, a P/E ratio of 26.38, a P/E/G ratio of 1.71 and a beta of 1.12.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings data 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%. On average, sell-side analysts expect that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

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 was Thursday, February 27th. This represents a $2.88 annualized dividend and a dividend yield of 1.24%. Laboratory Co. of America’s dividend payout ratio is currently 32.65%.

Insider Activity

In other news, Director Kerrii B. Anderson sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $255.63, for a total transaction of $127,815.00. Following the sale, the director now owns 13,166 shares in the company, valued at $3,365,624.58. The trade was a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Amy B. Summy sold 226 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $250.40, for a total transaction of $56,590.40. Following the completion of the sale, the chief marketing officer now owns 4,544 shares of the company’s stock, valued at approximately $1,137,817.60. This trade represents a 4.74 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,258 shares of company stock worth $3,753,177. Insiders own 0.85% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on LH shares. Citigroup raised shares of Laboratory Co. of America from a “neutral” rating to a “buy” rating and boosted their price target for the company from $250.00 to $300.00 in a report on Tuesday, March 4th. Barclays decreased 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 report on Friday, February 7th. Jefferies Financial Group raised their price target on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. UBS Group reduced their price objective on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Finally, Bank of America raised their target price on Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $269.92.

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.