Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Chicago Capital LLC

Chicago Capital LLC reduced its position in Laboratory Co. of America Holdings (NYSE:LH) by 39.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,054 shares of the medical research company’s stock after selling 2,000 shares during the quarter. Chicago Capital LLC’s holdings in Laboratory Co. of America were worth $700,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SouthState Corp purchased a new position in shares of Laboratory Co. of America in the third quarter worth about $28,000. Horizon Bancorp Inc. IN acquired a new stake in Laboratory Co. of America in the 3rd quarter valued at about $29,000. Fortitude Family Office LLC boosted its holdings in shares of Laboratory Co. of America by 312.5% during the 4th quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock worth $30,000 after purchasing an additional 100 shares during the last quarter. Riverview Trust Co grew its position in shares of Laboratory Co. of America by 172.6% in 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 in the last quarter. Finally, Concord Wealth Partners increased its holdings in shares of Laboratory Co. of America by 43.3% in the third quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock valued at $38,000 after purchasing an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Insider Activity at Laboratory Co. of America

In related news, CEO Adam H. Schechter sold 6,189 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $243.47, for a total transaction of $1,506,835.83. Following the completion of the sale, the chief executive officer now owns 87,441 shares in the company, valued at $21,289,260.27. This represents a 6.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kerrii B. Anderson sold 1,000 shares of Laboratory Co. of America stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total transaction of $235,000.00. Following the completion of the transaction, the director now owns 12,722 shares in the company, valued at approximately $2,989,670. This represents a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,572 shares of company stock valued at $5,915,209 in the last three months. 0.85% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Piper Sandler boosted their price objective on Laboratory Co. of America from $235.00 to $240.00 and gave the stock a “neutral” rating in a research note on Monday, October 28th. Barclays upped their price objective on shares of Laboratory Co. of America from $249.00 to $271.00 and gave the company an “equal weight” rating in a report on Monday. HSBC raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Bank of America raised their price target 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. Finally, StockNews.com downgraded Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $263.46.

Laboratory Co. of America Price Performance

Shares of NYSE:LH opened at $247.49 on Tuesday. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $258.59. The firm has a market capitalization of $20.70 billion, a P/E ratio of 47.87, a P/E/G ratio of 1.86 and a beta of 1.07. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.44 and a quick ratio of 1.30. The company’s fifty day moving average price is $236.02 and its 200 day moving average price is $228.72.

Laboratory Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be issued 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 payout ratio is currently 55.71%.

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.