Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Baltimore Washington Financial Advisors Inc.

Baltimore Washington Financial Advisors Inc. cut its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 4.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,656 shares of the medical research company’s stock after selling 1,021 shares during the quarter. Baltimore Washington Financial Advisors Inc.’s holdings in Laboratory Co. of America were worth $4,966,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. SouthState Corp acquired a new stake in shares of Laboratory Co. of America during the 3rd quarter worth approximately $28,000. Horizon Bancorp Inc. IN acquired a new position in Laboratory Co. of America in the third quarter valued at about $29,000. Fortitude Family Office LLC boosted its position in shares of Laboratory Co. of America by 312.5% during the fourth quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock worth $30,000 after buying an additional 100 shares during the period. Riverview Trust Co boosted its position in shares of Laboratory Co. of America by 172.6% during the third quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock worth $38,000 after buying an additional 107 shares during the period. Finally, Concord Wealth Partners boosted its position in Laboratory Co. of America by 43.3% during the third quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock valued at $38,000 after purchasing an additional 52 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Laboratory Co. of America Trading Down 0.9 %

NYSE:LH opened at $247.49 on Tuesday. The company has a market cap of $20.70 billion, a PE ratio of 47.87, a price-to-earnings-growth ratio of 1.86 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 0.66. The company has a 50 day simple moving average of $236.02 and a two-hundred day simple moving average of $228.72. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $258.59.

Laboratory Co. of America Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 1.16%. The ex-dividend date is Thursday, February 27th. Laboratory Co. of America’s payout ratio is currently 55.71%.

Insiders Place Their Bets

In other news, CEO Adam H. Schechter sold 6,189 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $243.47, for a total transaction of $1,506,835.83. Following the sale, the chief executive officer now directly owns 87,441 shares in the company, valued at approximately $21,289,260.27. This represents a 6.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kerrii B. Anderson sold 1,000 shares of the company’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 sale, the director now owns 12,722 shares in the company, valued at $2,989,670. This represents a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,572 shares of company stock worth $5,915,209 in the last 90 days. 0.85% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Hsbc Global Res upgraded Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Robert W. Baird raised their price objective on Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Morgan Stanley lifted their target price on Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. HSBC raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Finally, StockNews.com lowered Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Laboratory Co. of America has a consensus rating of “Moderate Buy” and an average target price of $263.46.

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.