Laboratory Co. of America Holdings (NYSE:LH) Stock Position Lowered by Forvis Mazars Wealth Advisors LLC

Forvis Mazars Wealth Advisors LLC lowered its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 2.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,768 shares of the medical research company’s stock after selling 180 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in Laboratory Co. of America were worth $2,011,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. State Street Corp boosted its position in shares of Laboratory Co. of America by 0.7% during the 3rd quarter. State Street Corp now owns 3,726,627 shares of the medical research company’s stock valued at $832,827,000 after purchasing an additional 25,469 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in Laboratory Co. of America by 1.5% during the third quarter. Diamond Hill Capital Management Inc. now owns 1,978,686 shares of the medical research company’s stock worth $442,197,000 after buying an additional 29,046 shares in the last quarter. Geode Capital Management LLC grew its position in Laboratory Co. of America by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,964,743 shares of the medical research company’s stock worth $437,561,000 after buying an additional 13,298 shares during the last quarter. JPMorgan Chase & Co. grew its position in Laboratory Co. of America by 9.5% in the third quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company’s stock worth $431,405,000 after buying an additional 167,137 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Laboratory Co. of America by 2.7% in the fourth 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 buying an additional 51,045 shares in the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.

Laboratory Co. of America Trading Up 0.3 %

NYSE LH opened at $249.86 on Monday. 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 1-year low of $191.97 and a 1-year high of $258.59. The firm’s fifty day simple moving average is $238.93 and its 200-day simple moving average is $231.82. The company has a market capitalization of $20.90 billion, a PE ratio of 28.33, a price-to-earnings-growth ratio of 1.71 and a beta of 1.07.

Laboratory Co. of America (NYSE:LH) last issued its earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share 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%. As a group, sell-side 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 32.65%.

Analyst Ratings Changes

A number of brokerages recently issued reports on LH. StockNews.com upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Friday, February 7th. UBS Group dropped their price target on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Hsbc Global Res raised shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Evercore ISI raised shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $260.00 to $265.00 in a research report on Tuesday, January 7th. Finally, Piper Sandler raised 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 equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $265.31.

Insiders Place Their Bets

In related news, Director Kerrii B. Anderson sold 1,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 12,722 shares in the company, valued at approximately $2,989,670. The trade was a 7.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Adam H. Schechter sold 6,121 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 86,445 shares in the company, valued at approximately $21,146,175.90. This trade represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,832 shares of company stock valued at $4,788,995 over the last ninety days. Corporate insiders own 0.85% of the company’s stock.

Laboratory Co. of America Company Profile

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