Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by HB Wealth Management LLC

HB Wealth Management LLC reduced its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 14.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,301 shares of the medical research company’s stock after selling 396 shares during the period. HB Wealth Management LLC’s holdings in Laboratory Co. of America were worth $528,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Integrated Investment Consultants LLC purchased a new stake in shares of Laboratory Co. of America during the fourth quarter worth $235,000. Arkadios Wealth Advisors grew its stake in Laboratory Co. of America by 27.7% during the 4th quarter. Arkadios Wealth Advisors now owns 2,041 shares of the medical research company’s stock worth $468,000 after purchasing an additional 443 shares in the last quarter. Brooklyn Investment Group increased its holdings in Laboratory Co. of America by 12.8% during the 4th quarter. Brooklyn Investment Group now owns 651 shares of the medical research company’s stock worth $149,000 after purchasing an additional 74 shares during the period. Merit Financial Group LLC acquired a new stake in Laboratory Co. of America in the 4th quarter valued at about $636,000. Finally, First National Bank of Mount Dora Trust Investment Services boosted its stake in shares of Laboratory Co. of America by 0.7% in the 4th quarter. First National Bank of Mount Dora Trust Investment Services now owns 11,654 shares of the medical research company’s stock valued at $2,672,000 after buying an additional 84 shares during the period. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LH has been the topic of a number of recent research reports. Jefferies Financial Group restated a “buy” rating and set a $275.00 target price (up from $265.00) on shares of Laboratory Co. of America in a research note on Tuesday, December 10th. Evercore ISI upgraded shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $260.00 to $265.00 in a report on Tuesday, January 7th. Piper Sandler boosted their target price on shares of Laboratory Co. of America from $235.00 to $240.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Barclays increased their target price on Laboratory Co. of America from $234.00 to $249.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Finally, Bank of America lifted their price target on Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Four equities research 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 stock. According to data from MarketBeat, Laboratory Co. of America currently has a consensus rating of “Moderate Buy” and an average target price of $260.54.

Insider Buying and Selling

In other news, EVP Glenn A. Eisenberg sold 11,711 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $240.43, for a total transaction of $2,815,675.73. Following the transaction, the executive vice president now directly owns 31,289 shares in the company, valued at $7,522,814.27. The trade was a 27.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kerrii B. Anderson sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total transaction of $235,000.00. Following the completion of the sale, the director now owns 12,722 shares of the company’s stock, valued at approximately $2,989,670. The trade was a 7.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,572 shares of company stock valued at $5,915,209 over the last quarter. 0.85% of the stock is currently owned by insiders.

Laboratory Co. of America Price Performance

Shares of NYSE LH opened at $242.47 on Thursday. The stock has a market cap of $20.28 billion, a P/E ratio of 46.90, a P/E/G ratio of 1.78 and a beta of 1.06. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $247.99. The stock has a 50 day moving average of $234.69 and a two-hundred day moving average of $226.44. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings results on Thursday, October 24th. The medical research company reported $3.50 EPS for the quarter, beating the consensus estimate of $3.48 by $0.02. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter in the prior year, the firm earned $3.38 EPS. Laboratory Co. of America’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, research analysts forecast that Laboratory Co. of America Holdings will post 14.51 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.19%. Laboratory Co. of America’s payout ratio is 55.71%.

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.