Blue Trust Inc. Sells 322 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Blue Trust Inc. trimmed its position in Laboratory Co. of America Holdings (NYSE:LH) by 35.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 579 shares of the medical research company’s stock after selling 322 shares during the quarter. Blue Trust Inc.’s holdings in Laboratory Co. of America were worth $133,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. AMF Tjanstepension AB lifted its position in shares of Laboratory Co. of America by 37.0% during the 3rd quarter. AMF Tjanstepension AB now owns 86,026 shares of the medical research company’s stock worth $19,232,000 after buying an additional 23,221 shares during the last quarter. Foundations Investment Advisors LLC acquired a new stake in Laboratory Co. of America during the 3rd quarter worth about $241,000. Private Advisor Group LLC raised its position in shares of Laboratory Co. of America by 55.2% in the 3rd quarter. Private Advisor Group LLC now owns 8,410 shares of the medical research company’s stock worth $1,879,000 after acquiring an additional 2,990 shares in the last quarter. Greenleaf Trust lifted its stake in shares of Laboratory Co. of America by 117.5% in the 3rd quarter. Greenleaf Trust now owns 5,596 shares of the medical research company’s stock valued at $1,251,000 after purchasing an additional 3,023 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in Laboratory Co. of America by 59,626.5% in the third quarter. International Assets Investment Management LLC now owns 67,491 shares of the medical research company’s stock worth $15,083,000 after purchasing an additional 67,378 shares in the last quarter. 95.94% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Glenn A. Eisenberg sold 11,711 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $240.43, for a total value of $2,815,675.73. Following the completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adam H. Schechter sold 6,121 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $244.62, for a total transaction of $1,497,319.02. Following the transaction, the chief executive officer now directly owns 86,445 shares of the company’s stock, valued at $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 ninety days, insiders sold 19,832 shares of company stock valued at $4,788,995. Insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Performance

NYSE:LH opened at $249.86 on Friday. The company has a market capitalization of $20.90 billion, a price-to-earnings ratio of 28.33, a PEG ratio of 1.70 and a beta of 1.07. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $258.59. The business has a 50 day moving average of $238.57 and a 200 day moving average of $231.55.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share 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, sell-side analysts predict 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be issued a dividend of $0.72 per share. The ex-dividend date is Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a yield of 1.15%. Laboratory Co. of America’s dividend payout ratio is currently 32.65%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LH. HSBC raised 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 objective 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. UBS Group decreased their price target on shares of Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Piper Sandler raised their target price on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Finally, StockNews.com upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $265.31.

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.