Laboratory Co. of America Holdings (NYSE:LH) Position Lessened by Parallel Advisors LLC

Parallel Advisors LLC decreased its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 4.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,402 shares of the medical research company’s stock after selling 59 shares during the period. Parallel Advisors LLC’s holdings in Laboratory Co. of America were worth $322,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LH. Fortitude Family Office LLC grew its stake 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 valued at $30,000 after buying an additional 100 shares in the last quarter. Geneos Wealth Management Inc. grew its position in Laboratory Co. of America by 309.8% in the fourth quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock worth $39,000 after acquiring an additional 127 shares in the last quarter. Human Investing LLC bought a new stake in Laboratory Co. of America in the fourth quarter worth approximately $39,000. True Wealth Design LLC increased its stake in shares of Laboratory Co. of America by 3,660.0% during the 3rd quarter. True Wealth Design LLC now owns 188 shares of the medical research company’s stock worth $42,000 after purchasing an additional 183 shares during the last quarter. Finally, Heck Capital Advisors LLC bought a new position in shares of Laboratory Co. of America during the 4th quarter valued at $44,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Wall Street Analysts Forecast Growth

LH has been the subject of a number of recent research reports. Citigroup upgraded shares of Laboratory Co. of America from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $250.00 to $300.00 in a report on Tuesday, March 4th. Jefferies Financial Group increased their price objective on Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a report on Thursday, February 6th. StockNews.com upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Evercore ISI upgraded Laboratory Co. of America from an “in-line” rating to an “outperform” rating and increased their price target for the company from $260.00 to $265.00 in a report on Tuesday, January 7th. Finally, Barclays reduced their price objective on shares of Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating for the company in a research note on Friday, February 7th. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $268.38.

Laboratory Co. of America Stock Down 0.8 %

LH stock opened at $233.97 on Friday. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month 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 0.67. The company has a market cap of $19.58 billion, a PE ratio of 26.53, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12. The business’s 50-day simple moving average is $245.16 and its 200 day simple moving average is $234.28.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.40 by $0.05. Laboratory Co. of America had a return on equity of 15.29% and a net margin of 5.73%. On average, research analysts anticipate that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th were given a dividend of $0.72 per share. The ex-dividend date was Thursday, February 27th. This represents a $2.88 annualized dividend and a dividend yield of 1.23%. Laboratory Co. of America’s dividend payout ratio (DPR) is currently 32.65%.

Insider Activity at Laboratory Co. of America

In related news, Director Kerrii B. Anderson sold 500 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $255.63, for a total value of $127,815.00. Following the sale, the director now owns 13,166 shares of the company’s stock, valued at $3,365,624.58. The trade was a 3.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 1,314 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $251.30, for a total value of $330,208.20. Following the transaction, the executive vice president now owns 2,171 shares of the company’s stock, valued at $545,572.30. This represents a 37.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,500 shares of company stock valued at $3,577,572 over the last quarter. 0.85% of the stock is 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.