Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Jackson Hole Capital Partners LLC

Jackson Hole Capital Partners LLC reduced its stake in Laboratory Co. of America Holdings (NYSE:LH) by 4.9% in the fourth quarter, HoldingsChannel reports. The fund owned 875 shares of the medical research company’s stock after selling 45 shares during the quarter. Jackson Hole Capital Partners LLC’s holdings in Laboratory Co. of America were worth $201,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. SouthState Corp bought a new stake in shares of Laboratory Co. of America in the 3rd quarter worth approximately $28,000. Fortitude Family Office LLC raised its holdings 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 purchasing an additional 100 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Laboratory Co. of America by 309.8% in the 4th quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock worth $39,000 after purchasing an additional 127 shares in the last quarter. Human Investing LLC bought a new stake in shares of Laboratory Co. of America in the 4th quarter worth approximately $39,000. Finally, Kennebec Savings Bank bought a new stake in shares of Laboratory Co. of America in the 3rd quarter worth approximately $42,000. 95.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on LH. Piper Sandler boosted their price target on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Jefferies Financial Group boosted their price target on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Evercore ISI upgraded shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $260.00 to $265.00 in a report on Tuesday, January 7th. Morgan Stanley boosted their price target on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Barclays cut their price target on shares of Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating on the stock in a report on Friday, February 7th. Three 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. According to data from MarketBeat.com, Laboratory Co. of America presently has a consensus rating of “Moderate Buy” and a consensus target price of $268.38.

Laboratory Co. of America Price Performance

NYSE LH opened at $253.00 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67. The company has a fifty day simple moving average of $243.68 and a 200 day simple moving average of $233.72. The company has a market cap of $21.18 billion, a P/E ratio of 28.68, a P/E/G ratio of 1.71 and a beta of 1.12. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $258.59.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.40 by $0.05. Laboratory Co. of America had a net margin of 5.73% and a return on equity of 15.29%. On average, sell-side analysts predict that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors 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 1.14%. The ex-dividend date is Thursday, February 27th. Laboratory Co. of America’s payout ratio is currently 32.65%.

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,121 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $244.62, for a total transaction of $1,497,319.02. Following the sale, the chief executive officer now owns 86,445 shares of the company’s stock, valued at $21,146,175.90. This represents a 6.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kerrii B. Anderson sold 500 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $255.63, for a total transaction of $127,815.00. Following the sale, the director now directly owns 13,166 shares in the company, valued at approximately $3,365,624.58. This represents a 3.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,500 shares of company stock worth $3,577,572 in the last ninety days. 0.85% of the stock is currently owned by insiders.

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.