Barry Investment Advisors LLC Lowers Stock Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Barry Investment Advisors LLC trimmed its position in Laboratory Co. of America Holdings (NYSE:LH) by 7.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,554 shares of the medical research company’s stock after selling 206 shares during the period. Barry Investment Advisors LLC’s holdings in Laboratory Co. of America were worth $586,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Patriot Financial Group Insurance Agency LLC boosted its holdings in Laboratory Co. of America by 5.9% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 986 shares of the medical research company’s stock valued at $226,000 after acquiring an additional 55 shares in the last quarter. Stonegate Investment Group LLC raised its position in shares of Laboratory Co. of America by 2.5% in the 4th quarter. Stonegate Investment Group LLC now owns 2,570 shares of the medical research company’s stock worth $589,000 after purchasing an additional 62 shares during the last quarter. Foundations Investment Advisors LLC lifted its stake in Laboratory Co. of America by 4.9% during the 4th quarter. Foundations Investment Advisors LLC now owns 1,131 shares of the medical research company’s stock valued at $259,000 after acquiring an additional 53 shares during the period. Cornell Pochily Investment Advisors Inc. lifted its stake in Laboratory Co. of America by 2.5% during the 4th quarter. Cornell Pochily Investment Advisors Inc. now owns 2,935 shares of the medical research company’s stock valued at $673,000 after acquiring an additional 72 shares during the period. Finally, Hunter Perkins Capital Management LLC increased its position in shares of Laboratory Co. of America by 1.0% during the 4th quarter. Hunter Perkins Capital Management LLC now owns 118,990 shares of the medical research company’s stock valued at $27,287,000 after purchasing an additional 1,215 shares during the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Adam H. Schechter sold 6,189 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $243.47, for a total transaction of $1,506,835.83. Following the transaction, the chief executive officer now owns 87,441 shares in the company, valued at $21,289,260.27. This trade represents a 6.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Der Vaart Sandra D. Van sold 1,000 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $239.42, for a total value of $239,420.00. Following the sale, the executive vice president now directly owns 2,670 shares of the company’s stock, valued at $639,251.40. The trade was a 27.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,572 shares of company stock valued at $5,915,209. Corporate insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Down 0.5 %

Laboratory Co. of America stock opened at $248.44 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.44 and a quick ratio of 1.30. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $250.56. The stock has a market capitalization of $20.78 billion, a PE ratio of 48.05, a price-to-earnings-growth ratio of 1.81 and a beta of 1.06. The business has a 50 day simple moving average of $235.19 and a 200-day simple moving average of $227.66.

Laboratory Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 55.71%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Robert W. Baird increased their target price on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Evercore ISI upgraded Laboratory Co. of America from an “in-line” rating to an “outperform” rating and increased their target price for the company from $260.00 to $265.00 in a research report on Tuesday, January 7th. UBS Group lowered their price target on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating for the company in a research report on Tuesday. Hsbc Global Res upgraded Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley raised 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. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $261.77.

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.