Stack Financial Management Inc Sells 636 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Stack Financial Management Inc lowered its stake in Laboratory Co. of America Holdings (NYSE:LH) by 0.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 75,349 shares of the medical research company’s stock after selling 636 shares during the quarter. Laboratory Co. of America comprises approximately 1.6% of Stack Financial Management Inc’s holdings, making the stock its 29th largest holding. Stack Financial Management Inc owned 0.09% of Laboratory Co. of America worth $17,279,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in LH. SouthState Corp bought a new position in Laboratory Co. of America during the third quarter valued at approximately $28,000. Fortitude Family Office LLC boosted its stake 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 period. Concord Wealth Partners raised 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 worth $38,000 after buying an additional 52 shares during the period. Geneos Wealth Management Inc. grew its position in Laboratory Co. of America by 309.8% in the 4th 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 last quarter. Finally, Human Investing LLC purchased a new stake in Laboratory Co. of America in the fourth quarter worth $39,000. Institutional investors own 95.94% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on LH shares. Morgan Stanley upped their price target on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Barclays reduced their target price on shares of Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating on the stock in a research report on Friday, February 7th. 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. UBS Group reduced their price objective on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Finally, Bank of America upped their target price on Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $265.31.

Insiders Place Their Bets

In related news, Director Dwight Gary Gilliland sold 1,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $241.00, for a total value of $241,000.00. Following the completion of the transaction, the director now owns 7,712 shares in the company, valued at $1,858,592. This trade represents a 11.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Adam H. Schechter sold 6,121 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $244.62, for a total value of $1,497,319.02. Following the completion of the transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,832 shares of company stock valued at $4,788,995. 0.85% of the stock is currently owned by corporate insiders.

Laboratory Co. of America Stock Up 0.6 %

NYSE:LH opened at $251.44 on Tuesday. The company’s 50-day simple moving average is $239.37 and its 200-day simple moving average is $232.01. 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 fifty-two week low of $191.97 and a fifty-two week high of $258.59. The stock has a market capitalization of $21.03 billion, a P/E ratio of 28.51, a P/E/G ratio of 1.71 and a beta of 1.07.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) for the quarter, topping the consensus estimate 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, equities analysts anticipate that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 32.65%.

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.