Laboratory Co. of America Holdings (NYSE:LH) is Davidson Investment Advisors’ 10th Largest Position

Davidson Investment Advisors reduced its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 0.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 158,912 shares of the medical research company’s stock after selling 359 shares during the quarter. Laboratory Co. of America makes up approximately 1.8% of Davidson Investment Advisors’ investment portfolio, making the stock its 10th largest position. Davidson Investment Advisors owned approximately 0.19% of Laboratory Co. of America worth $36,442,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. SouthState Corp bought a new stake in shares of Laboratory Co. of America in the third quarter valued at about $28,000. Horizon Bancorp Inc. IN bought a new stake in shares of Laboratory Co. of America in the third quarter valued at about $29,000. Fortitude Family Office LLC raised its holdings in shares of Laboratory Co. of America by 312.5% in the fourth quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 100 shares in the last quarter. Concord Wealth Partners raised 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 worth $38,000 after purchasing an additional 52 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in Laboratory Co. of America by 309.8% in the fourth quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock worth $39,000 after purchasing an additional 127 shares in the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Laboratory Co. of America Stock Performance

NYSE LH opened at $246.74 on Tuesday. The stock has a market cap of $20.64 billion, a PE ratio of 27.98, a P/E/G ratio of 1.84 and a beta of 1.07. 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 twelve month low of $191.97 and a twelve month high of $258.59. The stock has a fifty day simple moving average of $237.42 and a 200-day simple moving average of $231.14.

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, topping analysts’ consensus estimates 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%. Equities analysts anticipate that Laboratory Co. of America Holdings will post 15.96 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be given a dividend of $0.72 per share. 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 is presently 32.65%.

Insider Transactions at Laboratory Co. of America

In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 1,000 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $235.00, for a total value of $235,000.00. Following the sale, the director now owns 12,722 shares of the company’s stock, valued at approximately $2,989,670. This represents a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $1,497,319.02. Following the completion of the sale, the chief executive officer now owns 86,445 shares in the company, valued at $21,146,175.90. This represents a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,504 shares of company stock valued at $5,905,692. 0.85% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on LH shares. Robert W. Baird boosted their target price on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Evercore ISI upgraded shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $260.00 to $265.00 in a report on Tuesday, January 7th. Morgan Stanley upped their price objective on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. UBS Group cut their price objective on shares of Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Finally, Jefferies Financial Group upped their price objective on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Laboratory Co. of America has a consensus rating of “Moderate Buy” and an average price target of $265.31.

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.