Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by M&T Bank Corp

M&T Bank Corp trimmed its position in Laboratory Co. of America Holdings (NYSE:LH) by 0.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,336 shares of the medical research company’s stock after selling 94 shares during the period. M&T Bank Corp’s holdings in Laboratory Co. of America were worth $3,516,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in LH. Farther Finance Advisors LLC increased its position in shares of Laboratory Co. of America by 17.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,385 shares of the medical research company’s stock valued at $310,000 after acquiring an additional 208 shares during the period. Van ECK Associates Corp increased its position in shares of Laboratory Co. of America by 5.3% in the 3rd quarter. Van ECK Associates Corp now owns 13,868 shares of the medical research company’s stock valued at $3,050,000 after acquiring an additional 694 shares during the period. Principal Financial Group Inc. grew its position in Laboratory Co. of America by 2.8% during the 3rd quarter. Principal Financial Group Inc. now owns 96,596 shares of the medical research company’s stock worth $21,587,000 after purchasing an additional 2,595 shares during the period. Capital Performance Advisors LLP acquired a new stake in Laboratory Co. of America during the 3rd quarter worth about $66,000. Finally, Leavell Investment Management Inc. grew its position in Laboratory Co. of America by 2.4% during the 3rd quarter. Leavell Investment Management Inc. now owns 5,908 shares of the medical research company’s stock worth $1,320,000 after purchasing an additional 139 shares during the period. 95.94% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Laboratory Co. of America

In related news, CMO Amy B. Summy sold 226 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $250.40, for a total value of $56,590.40. Following the transaction, the chief marketing officer now directly owns 4,544 shares in the company, valued at approximately $1,137,817.60. This represents a 4.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kerrii B. Anderson sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total value of $235,000.00. Following the completion of the transaction, 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 14,500 shares of company stock worth $3,577,572 in the last ninety days. Insiders own 0.85% of the company’s stock.

Analyst Ratings Changes

LH has been the topic of several analyst reports. Morgan Stanley increased their price target on Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. StockNews.com raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Citigroup raised Laboratory Co. of America from a “neutral” rating to a “buy” rating and increased their price target for the stock from $250.00 to $300.00 in a research report on Tuesday, March 4th. Piper Sandler increased their price target on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Finally, Jefferies Financial Group increased their price target on Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $268.38.

Laboratory Co. of America Trading Down 0.4 %

LH stock opened at $253.00 on Friday. The stock has a market cap of $21.18 billion, a price-to-earnings ratio of 28.68, a PEG ratio of 1.71 and a beta of 1.12. The business’s 50-day moving average is $243.68 and its 200 day moving average is $233.72. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $258.59. 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 (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%. On average, sell-side analysts anticipate that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The business 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 dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio is currently 32.65%.

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.