Amalgamated Bank Trims Stock Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Amalgamated Bank lessened its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 2.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,055 shares of the medical research company’s stock after selling 446 shares during the quarter. Amalgamated Bank’s holdings in Laboratory Co. of America were worth $3,682,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. FMR LLC grew its position in shares of Laboratory Co. of America by 17.0% during the third quarter. FMR LLC now owns 1,586,397 shares of the medical research company’s stock worth $354,528,000 after buying an additional 230,708 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Laboratory Co. of America by 9.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company’s stock valued at $431,405,000 after acquiring an additional 167,137 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Laboratory Co. of America by 22.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 577,189 shares of the medical research company’s stock worth $128,990,000 after acquiring an additional 105,443 shares in the last quarter. River Road Asset Management LLC increased its position in shares of Laboratory Co. of America by 37.8% in the 3rd quarter. River Road Asset Management LLC now owns 284,097 shares of the medical research company’s stock worth $63,490,000 after purchasing an additional 77,921 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of Laboratory Co. of America by 7.0% in the 4th quarter. Nordea Investment Management AB now owns 1,052,927 shares of the medical research company’s stock valued at $243,321,000 after purchasing an additional 68,974 shares in the last quarter. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Adam H. Schechter sold 6,121 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $244.62, for a total value of $1,497,319.02. Following the completion of the sale, the chief executive officer now owns 86,445 shares in the company, valued at $21,146,175.90. This represents a 6.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Glenn A. Eisenberg sold 11,711 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $240.43, for a total value of $2,815,675.73. Following the transaction, the executive vice president now directly owns 31,289 shares of the company’s stock, valued at $7,522,814.27. This represents a 27.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,372 shares of company stock valued at $5,175,793 over the last 90 days. 0.85% of the stock is currently owned by company insiders.

Laboratory Co. of America Price Performance

NYSE LH opened at $251.45 on Friday. The company has a 50-day moving average price of $241.20 and a two-hundred day moving average price of $232.64. The stock has a market cap of $21.03 billion, a price-to-earnings ratio of 28.51, a price-to-earnings-growth ratio of 1.71 and a beta of 1.07. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67. Laboratory Co. of America Holdings has a 52 week low of $191.97 and a 52 week high of $258.59.

Laboratory Co. of America (NYSE:LH) last posted its earnings results on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, beating the consensus estimate 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%. Analysts forecast 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 disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.15%. The ex-dividend date is Thursday, February 27th. Laboratory Co. of America’s payout ratio is currently 32.65%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LH. Morgan Stanley boosted their price objective on Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Jefferies Financial Group boosted their price target on Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Piper Sandler raised their price objective on 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. StockNews.com upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Finally, Evercore ISI raised shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $260.00 to $265.00 in a report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating, eleven 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 presently has an average rating of “Moderate Buy” and a consensus price target of $265.75.

Laboratory Co. of America Company Profile

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.