Bartlett & CO. Wealth Management LLC Has $48.43 Million Position in Laboratory Co. of America Holdings (NYSE:LH)

Bartlett & CO. Wealth Management LLC trimmed its stake in Laboratory Co. of America Holdings (NYSE:LH) by 0.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 211,184 shares of the medical research company’s stock after selling 736 shares during the quarter. Bartlett & CO. Wealth Management LLC owned about 0.25% of Laboratory Co. of America worth $48,429,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. State Street Corp grew its position in Laboratory Co. of America by 0.7% in the 3rd quarter. State Street Corp now owns 3,726,627 shares of the medical research company’s stock valued at $832,827,000 after purchasing an additional 25,469 shares during the period. Diamond Hill Capital Management Inc. grew its holdings in shares of Laboratory Co. of America by 1.5% during the third quarter. Diamond Hill Capital Management Inc. now owns 1,978,686 shares of the medical research company’s stock valued at $442,197,000 after buying an additional 29,046 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Laboratory Co. of America by 0.7% during the third quarter. Geode Capital Management LLC now owns 1,964,743 shares of the medical research company’s stock worth $437,561,000 after acquiring an additional 13,298 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Laboratory Co. of America by 9.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company’s stock worth $431,405,000 after acquiring an additional 167,137 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in Laboratory Co. of America by 16.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,865,460 shares of the medical research company’s stock valued at $416,893,000 after acquiring an additional 263,105 shares in the last quarter. 95.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on LH shares. HSBC raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Barclays raised their price objective on Laboratory Co. of America from $234.00 to $249.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Jefferies Financial Group reaffirmed a “buy” rating and set a $275.00 price objective (up from $265.00) on shares of Laboratory Co. of America in a report on Tuesday, December 10th. StockNews.com downgraded shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Finally, Evercore ISI upgraded shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $260.00 to $265.00 in a report on Tuesday, January 7th. 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 company currently has a consensus rating of “Moderate Buy” and a consensus price target of $260.54.

Laboratory Co. of America Stock Down 0.6 %

Shares of NYSE LH opened at $242.47 on Thursday. The business’s fifty day moving average price is $234.69 and its 200-day moving average price is $226.44. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year high of $247.99. The stock has a market capitalization of $20.28 billion, a PE ratio of 46.90, a P/E/G ratio of 1.82 and a beta of 1.06. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.44 and a quick ratio of 1.30.

Laboratory Co. of America (NYSE:LH) last issued its earnings results 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 firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same quarter last year, the business earned $3.38 earnings per share. The company’s quarterly revenue was up 7.4% on a year-over-year basis. On average, equities research analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors 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 1.19%. Laboratory Co. of America’s dividend payout ratio is 55.71%.

Insider Buying and Selling at Laboratory Co. of America

In other news, Director Kerrii B. Anderson sold 1,000 shares of the business’s 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 directly owns 12,722 shares in the company, valued at $2,989,670. The trade was a 7.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Adam H. Schechter sold 6,189 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $243.47, for a total value 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 trade represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,572 shares of company stock valued at $5,915,209 in the last 90 days. 0.85% of the stock is currently owned by company insiders.

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.