Viawealth LLC Sells 234 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Viawealth LLC trimmed its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 8.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,680 shares of the medical research company’s stock after selling 234 shares during the period. Viawealth LLC’s holdings in Laboratory Co. of America were worth $615,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. SouthState Corp acquired a new position in shares of Laboratory Co. of America in the 3rd quarter worth approximately $28,000. Fortitude Family Office LLC raised its stake in 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 acquiring an additional 100 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Laboratory Co. of America by 309.8% during the fourth quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock valued at $39,000 after acquiring an additional 127 shares during the period. Human Investing LLC acquired a new stake in shares of Laboratory Co. of America in the 4th quarter valued at $39,000. Finally, True Wealth Design LLC grew its holdings in shares of Laboratory Co. of America by 3,660.0% in the 3rd quarter. True Wealth Design LLC now owns 188 shares of the medical research company’s stock worth $42,000 after purchasing an additional 183 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Laboratory Co. of America Price Performance

Shares of LH stock opened at $239.83 on Thursday. The firm’s 50 day moving average price is $245.10 and its two-hundred day moving average price is $234.25. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $258.59. The stock has a market cap of $20.07 billion, a PE ratio of 27.19, a PEG ratio of 1.71 and a beta of 1.12.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, topping 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%. As a group, analysts forecast that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Thursday, February 27th were paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend was Thursday, February 27th. Laboratory Co. of America’s payout ratio is 32.65%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. UBS Group reduced their price target on shares of Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Citigroup upgraded Laboratory Co. of America from a “neutral” rating to a “buy” rating and increased their price target for the stock from $250.00 to $300.00 in a research report on Tuesday, March 4th. Piper Sandler raised their price target on Laboratory Co. of America from $240.00 to $260.00 and gave the company a “neutral” rating in a report on Monday, February 10th. StockNews.com raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Finally, Barclays lowered 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. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $268.38.

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 500 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $255.63, for a total value of $127,815.00. Following the completion of the sale, the director now directly owns 13,166 shares in the company, valued at $3,365,624.58. This represents a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $1,497,319.02. Following the sale, the chief executive officer now directly owns 86,445 shares in the company, valued at approximately $21,146,175.90. This represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,500 shares of company stock worth $3,577,572. 0.85% of the stock is currently owned by company insiders.

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.