Laboratory Co. of America Holdings (NYSE:LH) Holdings Decreased by Cohen Klingenstein LLC

Cohen Klingenstein LLC trimmed its position in Laboratory Co. of America Holdings (NYSE:LH) by 5.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,710 shares of the medical research company’s stock after selling 1,500 shares during the quarter. Cohen Klingenstein LLC’s holdings in Laboratory Co. of America were worth $5,666,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LH. SouthState Corp purchased a new stake in Laboratory Co. of America in the 3rd quarter worth approximately $28,000. Horizon Bancorp Inc. IN bought a new position in Laboratory Co. of America during the third quarter valued at approximately $29,000. Fortitude Family Office LLC lifted its stake in Laboratory Co. of America by 312.5% in the fourth quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 100 shares during the last quarter. Riverview Trust Co raised its holdings in shares of Laboratory Co. of America by 172.6% during the 3rd quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock valued at $38,000 after purchasing an additional 107 shares in the last quarter. Finally, Concord Wealth Partners lifted its holdings in Laboratory Co. of America by 43.3% in the 3rd quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock worth $38,000 after purchasing an additional 52 shares during the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Insider Activity

In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 1,000 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 2,670 shares in the company, valued at approximately $639,251.40. This trade represents a 27.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Adam H. Schechter sold 6,189 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $243.47, for a total value of $1,506,835.83. Following the completion of the transaction, the chief executive officer now directly owns 87,441 shares in the company, valued at $21,289,260.27. This represents a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,572 shares of company stock valued at $6,145,209. Company insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Performance

Shares of NYSE:LH opened at $238.44 on Friday. The firm has a market cap of $19.94 billion, a PE ratio of 46.12, a PEG ratio of 1.73 and a beta of 1.06. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.66. The company’s 50 day moving average price is $234.80 and its two-hundred day moving average price is $225.60. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $247.99.

Laboratory Co. of America (NYSE:LH) last released its earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.48 by $0.02. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.26 billion. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.38 earnings per share. 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.21%. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 55.71%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Barclays increased their target price on Laboratory Co. of America from $234.00 to $249.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Robert W. Baird lifted their price objective on Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Bank of America lifted their price objective on Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a research report on Friday, December 13th. HSBC raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $275.00 price objective (up from $265.00) on shares of Laboratory Co. of America in a research report on Tuesday, December 10th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Laboratory Co. of America currently has a consensus rating of “Moderate Buy” and a consensus price target of $260.54.

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.