Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp decreased its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 0.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 28,648 shares of the medical research company’s stock after selling 69 shares during the period. Fifth Third Bancorp’s holdings in Laboratory Co. of America were worth $6,570,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in LH. AE Wealth Management LLC purchased a new position in Laboratory Co. of America during the 2nd quarter worth $239,000. AXA S.A. raised its holdings in Laboratory Co. of America by 523.2% during the second quarter. AXA S.A. now owns 10,283 shares of the medical research company’s stock worth $2,093,000 after purchasing an additional 8,633 shares in the last quarter. MBB Public Markets I LLC acquired a new stake in Laboratory Co. of America in the second quarter valued at about $1,180,000. Mackenzie Financial Corp boosted its holdings in Laboratory Co. of America by 65.1% in the 2nd quarter. Mackenzie Financial Corp now owns 13,384 shares of the medical research company’s stock valued at $2,724,000 after purchasing an additional 5,275 shares in the last quarter. Finally, Creative Planning increased its position in Laboratory Co. of America by 14.7% during the 2nd quarter. Creative Planning now owns 12,854 shares of the medical research company’s stock worth $2,616,000 after purchasing an additional 1,646 shares during the period. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on LH. Piper Sandler lifted their price target on Laboratory Co. of America from $235.00 to $240.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Evercore ISI upgraded shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $260.00 to $265.00 in a research report on Tuesday, January 7th. Jefferies Financial Group reiterated a “buy” rating and issued a $275.00 price target (up previously from $265.00) on shares of Laboratory Co. of America in a report on Tuesday, December 10th. Barclays boosted their price objective on shares of Laboratory Co. of America from $234.00 to $249.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Finally, Hsbc Global Res raised shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $260.54.

Insider Activity

In related news, Director Kerrii B. Anderson sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $235.00, for a total transaction of $235,000.00. Following the sale, the director now directly owns 12,722 shares in the company, valued at approximately $2,989,670. This trade represents a 7.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Glenn A. Eisenberg sold 11,711 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was 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 in the company, valued at $7,522,814.27. This trade represents a 27.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,572 shares of company stock valued at $5,915,209. Company insiders own 0.85% of the company’s stock.

Laboratory Co. of America Price Performance

Laboratory Co. of America stock opened at $246.29 on Monday. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $247.99. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.44. The firm has a 50 day moving average price of $234.97 and a 200 day moving average price of $227.17. The company has a market cap of $20.60 billion, a price-to-earnings ratio of 47.64, a PEG ratio of 1.81 and a beta of 1.06.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings data on Thursday, October 24th. The medical research company reported $3.50 EPS for the quarter, topping analysts’ consensus estimates of $3.48 by $0.02. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.26 billion. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period last year, the business posted $3.38 EPS. Sell-side analysts predict that Laboratory Co. of America Holdings will post 14.51 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.17%. 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.