Whittier Trust Co. Grows Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Whittier Trust Co. boosted its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 37.3% during the 4th quarter, HoldingsChannel reports. The firm owned 1,841 shares of the medical research company’s stock after purchasing an additional 500 shares during the period. Whittier Trust Co.’s holdings in Laboratory Co. of America were worth $422,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Fortitude Family Office LLC grew its holdings 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 last quarter. Geneos Wealth Management Inc. lifted its position in Laboratory Co. of America by 309.8% during the 4th quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock worth $39,000 after acquiring an additional 127 shares during the period. Human Investing LLC purchased a new position in shares of Laboratory Co. of America in the 4th quarter valued at approximately $39,000. True Wealth Design LLC increased its holdings in shares of Laboratory Co. of America by 3,660.0% in the third quarter. True Wealth Design LLC now owns 188 shares of the medical research company’s stock valued at $42,000 after purchasing an additional 183 shares during the period. Finally, Heck Capital Advisors LLC purchased a new stake in shares of Laboratory Co. of America during the fourth quarter worth approximately $44,000. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Laboratory Co. of America Stock Down 0.8 %

LH stock opened at $233.97 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30. The company’s 50 day simple moving average is $245.16 and its 200-day simple moving average is $234.31. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $258.59. The firm has a market capitalization of $19.58 billion, a PE ratio of 26.53, a P/E/G ratio of 1.71 and a beta of 1.12.

Laboratory Co. of America (NYSE:LH) last announced its earnings results on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, beating analysts’ consensus estimates 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%. Equities analysts expect that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th were issued a $0.72 dividend. The ex-dividend date was Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a yield of 1.23%. Laboratory Co. of America’s dividend payout ratio (DPR) is 32.65%.

Insiders Place Their Bets

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,121 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $244.62, for a total transaction of $1,497,319.02. Following the transaction, 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 document filed with the SEC, which is available through this link. Also, COO Mark S. Schroeder sold 5,339 shares of Laboratory Co. of America stock in a transaction on Friday, February 28th. The shares were sold at an average price of $249.23, for a total value of $1,330,638.97. Following the completion of the sale, the chief operating officer now directly owns 4,960 shares of the company’s stock, valued at approximately $1,236,180.80. This represents a 51.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,500 shares of company stock valued at $3,577,572 in the last ninety days. Insiders own 0.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LH. StockNews.com upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Bank of America increased their price target on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Citigroup raised Laboratory Co. of America from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $250.00 to $300.00 in a report on Tuesday, March 4th. Barclays cut their target price on Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating for the company in a research note on Friday, February 7th. Finally, Morgan Stanley lifted their price target on Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Three 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. Based on data from MarketBeat, Laboratory Co. of America has a consensus rating of “Moderate Buy” and a consensus price target of $268.38.

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.