Evermay Wealth Management LLC Has $1.07 Million Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

Evermay Wealth Management LLC cut its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 5.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,665 shares of the medical research company’s stock after selling 245 shares during the period. Evermay Wealth Management LLC’s holdings in Laboratory Co. of America were worth $1,070,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of LH. Creative Planning increased its position in shares of Laboratory Co. of America by 14.7% in the second quarter. Creative Planning now owns 12,854 shares of the medical research company’s stock worth $2,616,000 after purchasing an additional 1,646 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of Laboratory Co. of America by 19.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,657 shares of the medical research company’s stock valued at $1,152,000 after buying an additional 913 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Laboratory Co. of America by 2.4% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 3,516 shares of the medical research company’s stock worth $715,000 after acquiring an additional 83 shares during the period. EP Wealth Advisors LLC increased its stake in shares of Laboratory Co. of America by 27.0% in the 2nd quarter. EP Wealth Advisors LLC now owns 1,226 shares of the medical research company’s stock valued at $250,000 after purchasing an additional 261 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new position in Laboratory Co. of America in the second quarter valued at about $2,268,000. 95.94% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,189 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $243.47, for a total value of $1,506,835.83. Following the transaction, the chief executive officer now owns 87,441 shares of the company’s stock, valued at $21,289,260.27. This represents a 6.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kerrii B. Anderson sold 1,000 shares of the business’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 directly owns 12,722 shares of the company’s stock, valued at approximately $2,989,670. This trade represents a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,572 shares of company stock worth $5,915,209. Corporate insiders own 0.85% of the company’s stock.

Laboratory Co. of America Price Performance

Shares of LH opened at $249.39 on Friday. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $258.59. The firm has a fifty day simple moving average of $236.02 and a two-hundred day simple moving average of $228.54. 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 firm has a market cap of $20.86 billion, a PE ratio of 48.24, a P/E/G ratio of 1.83 and a beta of 1.06.

Laboratory Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders 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 yield of 1.15%. The ex-dividend date of this dividend is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio is currently 55.71%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on LH shares. Jefferies Financial Group reissued a “buy” rating and issued a $275.00 price objective (up previously from $265.00) on shares of Laboratory Co. of America in a research note on Tuesday, December 10th. Bank of America raised their target price 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. Hsbc Global Res upgraded Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Evercore ISI upgraded Laboratory Co. of America from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $260.00 to $265.00 in a research note on Tuesday, January 7th. Finally, Barclays upped their target price on shares of Laboratory Co. of America from $234.00 to $249.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Four 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 company’s stock. According to MarketBeat.com, Laboratory Co. of America presently has an average rating of “Moderate Buy” and an average target price of $261.77.

About Laboratory Co. of America

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