Hartford Investment Management Co. Sells 100 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Hartford Investment Management Co. lowered its position in Laboratory Co. of America Holdings (NYSE:LH) by 1.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,148 shares of the medical research company’s stock after selling 100 shares during the quarter. Hartford Investment Management Co.’s holdings in Laboratory Co. of America were worth $1,181,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. SouthState Corp purchased a new stake in shares of Laboratory Co. of America in the 3rd quarter valued at about $28,000. Horizon Bancorp Inc. IN bought a new position in shares of Laboratory Co. of America in the third quarter worth approximately $29,000. Fortitude Family Office LLC raised 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 purchasing an additional 100 shares in the last quarter. Riverview Trust Co lifted its position in Laboratory Co. of America by 172.6% during the third 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 during the last quarter. Finally, Concord Wealth Partners grew its stake 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 buying an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Trading Up 0.8 %

Shares of LH opened at $246.74 on Friday. The stock has a market capitalization of $20.64 billion, a P/E ratio of 27.98, a PEG ratio of 1.84 and a beta of 1.07. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $258.59. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67. The firm has a fifty day simple moving average of $237.13 and a two-hundred day simple moving average of $230.66.

Laboratory Co. of America (NYSE:LH) last posted its earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share for the quarter, topping analysts’ consensus estimates 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, research analysts anticipate that Laboratory Co. of America Holdings will post 15.96 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be paid a dividend of $0.72 per share. The ex-dividend date is Thursday, February 27th. This represents a $2.88 annualized dividend and a dividend yield of 1.17%. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 32.65%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on LH. Bank of America lifted their price objective 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. Evercore ISI upgraded Laboratory Co. of America from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $260.00 to $265.00 in a report on Tuesday, January 7th. HSBC raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. Jefferies Financial Group upped their target price on Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Finally, Piper Sandler lifted their price target on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $265.31.

Insider Activity at Laboratory Co. of America

In related news, 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 transaction, the director now owns 12,722 shares in the company, valued at $2,989,670. The trade was a 7.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adam H. Schechter sold 6,121 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 86,445 shares of the company’s stock, valued at $21,146,175.90. This trade represents a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,504 shares of company stock worth $5,905,692 over the last quarter. 0.85% of the stock is owned by corporate insiders.

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.