Live Oak Private Wealth LLC Decreases Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Live Oak Private Wealth LLC reduced its position in Laboratory Co. of America Holdings (NYSE:LH) by 5.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 949 shares of the medical research company’s stock after selling 51 shares during the period. Live Oak Private Wealth LLC’s holdings in Laboratory Co. of America were worth $218,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its holdings in shares of Laboratory Co. of America by 16.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,865,460 shares of the medical research company’s stock worth $416,893,000 after buying an additional 263,105 shares in the last quarter. FMR LLC increased its stake in Laboratory Co. of America by 17.0% in the third quarter. FMR LLC now owns 1,586,397 shares of the medical research company’s stock valued at $354,528,000 after purchasing an additional 230,708 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Laboratory Co. of America by 9.5% during the third quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company’s stock worth $431,405,000 after buying an additional 167,137 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Laboratory Co. of America by 22.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 577,189 shares of the medical research company’s stock worth $128,990,000 after buying an additional 105,443 shares during the last quarter. Finally, River Road Asset Management LLC grew its holdings in Laboratory Co. of America by 37.8% in the 3rd quarter. River Road Asset Management LLC now owns 284,097 shares of the medical research company’s stock valued at $63,490,000 after buying an additional 77,921 shares during the period. 95.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on LH shares. Robert W. Baird increased their price objective 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. HSBC raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Hsbc Global Res raised Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Piper Sandler boosted their price target on Laboratory Co. of America from $235.00 to $240.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Finally, UBS Group cut 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. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Laboratory Co. of America has an average rating of “Moderate Buy” and a consensus price target of $264.62.

Laboratory Co. of America Trading Down 1.1 %

LH opened at $247.33 on Friday. The firm’s 50 day moving average is $236.46 and its 200-day moving average is $229.34. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $258.59. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $20.69 billion, a P/E ratio of 47.84, a P/E/G ratio of 1.86 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 3.43% and a return on equity of 15.27%. Analysts expect that Laboratory Co. of America Holdings will post 14.51 EPS 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. Investors of record on Thursday, February 27th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio is currently 55.71%.

Insider Buying and Selling at Laboratory Co. of America

In related news, Director Kerrii B. Anderson sold 1,000 shares of Laboratory Co. of America stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $235.00, for a total value of $235,000.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Glenn A. Eisenberg sold 11,711 shares of the 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 approximately $7,522,814.27. This represents a 27.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,572 shares of company stock valued at $5,915,209 in the last three months. Corporate insiders own 0.85% of the company’s stock.

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.