Country Club Bank Trims Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Country Club Bank decreased its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 76.1% in the fourth quarter, HoldingsChannel reports. The firm owned 3,727 shares of the medical research company’s stock after selling 11,873 shares during the quarter. Country Club Bank’s holdings in Laboratory Co. of America were worth $853,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. SouthState Corp acquired a new position in shares of Laboratory Co. of America in the 3rd quarter valued at about $28,000. Horizon Bancorp Inc. IN purchased a new position in Laboratory Co. of America during the third quarter valued at approximately $29,000. Fortitude Family Office LLC lifted its holdings in Laboratory Co. of America by 312.5% in the fourth quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 100 shares during the period. Riverview Trust Co boosted its position in Laboratory Co. of America by 172.6% in the 3rd quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock worth $38,000 after purchasing an additional 107 shares in the last quarter. Finally, Concord Wealth Partners grew its stake in shares of Laboratory Co. of America by 43.3% during the 3rd quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock worth $38,000 after purchasing an additional 52 shares during the period. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Hsbc Global Res upgraded shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Bank of America increased their target price on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. StockNews.com lowered Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Morgan Stanley upped their price target on Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, UBS Group cut their price objective on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $263.46.

Laboratory Co. of America Trading Up 1.4 %

Shares of LH opened at $250.01 on Thursday. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $258.59. The stock has a market cap of $20.91 billion, a PE ratio of 48.36, a price-to-earnings-growth ratio of 1.86 and a beta of 1.07. The firm’s fifty day moving average is $236.30 and its two-hundred day moving average is $229.20. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.66.

Laboratory Co. of America Announces Dividend

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 dividend of $0.72 per share. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $2.88 annualized dividend and a yield of 1.15%. Laboratory Co. of America’s dividend payout ratio is presently 55.71%.

Insider Buying and Selling at Laboratory Co. of America

In related news, CEO Adam H. Schechter sold 6,189 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were 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 of the company’s stock, valued at approximately $21,289,260.27. This represents a 6.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Glenn A. Eisenberg sold 11,711 shares of Laboratory Co. of America stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $240.43, for a total transaction of $2,815,675.73. Following 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,572 shares of company stock worth $5,915,209. 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.