Pure Financial Advisors LLC Decreases Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

Pure Financial Advisors LLC cut its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 6.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 944 shares of the medical research company’s stock after selling 67 shares during the quarter. Pure Financial Advisors LLC’s holdings in Laboratory Co. of America were worth $216,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in LH. SouthState Corp bought a new position in Laboratory Co. of America during the third quarter valued at approximately $28,000. Horizon Bancorp Inc. IN bought a new position in shares of Laboratory Co. of America during the 3rd quarter valued at $29,000. Fortitude Family Office LLC boosted its stake in shares of Laboratory Co. of America by 312.5% in the 4th 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 last quarter. Riverview Trust Co grew its holdings in shares of Laboratory Co. of America by 172.6% in the third quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock worth $38,000 after acquiring an additional 107 shares during the period. Finally, Concord Wealth Partners increased 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 acquiring an additional 52 shares during the last quarter. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Laboratory Co. of America Stock Down 0.6 %

Shares of NYSE:LH opened at $242.47 on Thursday. The company has a market cap of $20.28 billion, a price-to-earnings ratio of 46.90, a PEG ratio of 1.78 and a beta of 1.06. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $247.99. 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 moving average price of $234.69 and a 200 day moving average price of $226.44.

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

Laboratory Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.19%. Laboratory Co. of America’s payout ratio is 55.71%.

Analyst Upgrades and Downgrades

LH has been the subject of a number of recent research reports. Bank of America boosted their price target on Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a research note on Friday, December 13th. 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 report on Tuesday, December 10th. Barclays increased their price target on shares of Laboratory Co. of America from $234.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Evercore ISI raised shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $260.00 to $265.00 in a research report on Tuesday, January 7th. Finally, Hsbc Global Res raised Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $260.54.

Insider Buying and Selling at Laboratory Co. of America

In related news, EVP Der Vaart Sandra D. Van sold 1,000 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $239.42, for a total transaction of $239,420.00. Following the completion of the transaction, the executive vice president now owns 2,670 shares in the company, valued at $639,251.40. The trade was a 27.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Glenn A. Eisenberg sold 11,711 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $240.43, for a total value of $2,815,675.73. Following the completion of the sale, the executive vice president now owns 31,289 shares in the company, valued at approximately $7,522,814.27. The trade was a 27.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,572 shares of company stock worth $5,915,209 over the last quarter. Insiders own 0.85% of the company’s stock.

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.