Congress Wealth Management LLC DE Has $280,000 Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Congress Wealth Management LLC DE lessened its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 72.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,220 shares of the medical research company’s stock after selling 3,212 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Laboratory Co. of America were worth $280,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in LH. FMR LLC raised its holdings in shares of Laboratory Co. of America by 17.0% during the third quarter. FMR LLC now owns 1,586,397 shares of the medical research company’s stock worth $354,528,000 after acquiring an additional 230,708 shares in the last quarter. Quantbot Technologies LP acquired a new position in Laboratory Co. of America in the 3rd quarter worth about $596,000. CreativeOne Wealth LLC lifted its holdings in shares of Laboratory Co. of America by 19.7% during the 3rd quarter. CreativeOne Wealth LLC now owns 1,488 shares of the medical research company’s stock valued at $332,000 after buying an additional 245 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Laboratory Co. of America by 14.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,689 shares of the medical research company’s stock valued at $3,953,000 after buying an additional 2,234 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Laboratory Co. of America by 5.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 914,019 shares of the medical research company’s stock worth $204,265,000 after buying an additional 49,203 shares during the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Laboratory Co. of America Stock Down 0.8 %

Shares of LH stock opened at $229.75 on Friday. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 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 firm has a market cap of $19.23 billion, a PE ratio of 26.05, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12. The stock has a 50 day moving average of $244.80 and a 200-day moving average of $234.58.

Laboratory Co. of America (NYSE:LH) last released its earnings results on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, beating 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, equities analysts predict that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Thursday, February 27th were paid a dividend of $0.72 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $2.88 annualized dividend and a yield of 1.25%. Laboratory Co. of America’s dividend payout ratio is 32.65%.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Bank of America lifted their target price on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Piper Sandler upped their price objective on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Citigroup upgraded Laboratory Co. of America from a “neutral” rating to a “buy” rating and raised their target price for the company from $250.00 to $300.00 in a report on Tuesday, March 4th. StockNews.com downgraded Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Jefferies Financial Group raised their price objective on Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Laboratory Co. of America currently has an average rating of “Moderate Buy” and an average price target of $269.92.

Insider Activity at Laboratory Co. of America

In related news, CEO Adam H. Schechter sold 6,121 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $244.62, for a total value of $1,497,319.02. Following the completion of the transaction, the chief executive officer now owns 86,445 shares of the company’s stock, valued at $21,146,175.90. This represents a 6.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kerrii B. Anderson sold 1,000 shares of Laboratory Co. of America stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total value of $235,000.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,500 shares of company stock worth $3,577,572 over the last three months. Company insiders own 0.85% of the company’s stock.

About Laboratory Co. of America

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