Webster Bank N. A. Reduces Position in Laboratory Co. of America Holdings (NYSE:LH)

Webster Bank N. A. lowered its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 38.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,343 shares of the medical research company’s stock after selling 1,462 shares during the quarter. Webster Bank N. A.’s holdings in Laboratory Co. of America were worth $537,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. SouthState Corp bought a new position in shares of Laboratory Co. of America in the third quarter worth about $28,000. Horizon Bancorp Inc. IN purchased a new position in Laboratory Co. of America during the 3rd quarter worth $29,000. Fortitude Family Office LLC lifted its holdings in shares of Laboratory Co. of America by 312.5% in the 4th quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock worth $30,000 after buying an additional 100 shares during the period. Riverview Trust Co grew its position in shares of Laboratory Co. of America by 172.6% during the 3rd quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock worth $38,000 after buying an additional 107 shares in the last quarter. Finally, Concord Wealth Partners increased its stake in shares of Laboratory Co. of America by 43.3% during the third quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock valued at $38,000 after buying an additional 52 shares during the period. Institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Price Performance

Shares of NYSE LH opened at $246.29 on Monday. 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 firm’s 50 day simple moving average is $234.97 and its 200-day simple moving average is $227.17. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $247.99. The stock has a market capitalization 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 issued its quarterly earnings data on Thursday, October 24th. The medical research company reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $3.48 by $0.02. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter in the prior year, the firm posted $3.38 earnings per share. The company’s revenue was up 7.4% compared to the same quarter last year. Analysts expect that Laboratory Co. of America Holdings will post 14.51 EPS for the current year.

Laboratory Co. of America Dividend Announcement

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 given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.17%. Laboratory Co. of America’s dividend payout ratio is currently 55.71%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on LH shares. Hsbc Global Res upgraded shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Robert W. Baird lifted their price target on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Barclays boosted their target price on Laboratory Co. of America from $234.00 to $249.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Bank of America boosted their price target on Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, Evercore ISI upgraded shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $260.00 to $265.00 in a research note on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $260.54.

Insider Buying and Selling at Laboratory Co. of America

In other news, EVP Der Vaart Sandra D. Van sold 1,000 shares of Laboratory Co. of America stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $239.42, for a total value of $239,420.00. Following the sale, the executive vice president now directly owns 2,670 shares of the company’s stock, valued at $639,251.40. The trade was a 27.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CMO Amy B. Summy sold 3,672 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $238.91, for a total transaction of $877,277.52. Following the sale, the chief marketing officer now directly owns 4,318 shares of the company’s stock, valued at $1,031,613.38. The trade was a 45.96 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, 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 Profile

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