Folger Nolan Fleming Douglas Capital Management Inc. Has $479,000 Stock Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Folger Nolan Fleming Douglas Capital Management Inc. decreased its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 55.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,090 shares of the medical research company’s stock after selling 2,596 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Laboratory Co. of America were worth $479,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in LH. Brooklyn Investment Group raised its position in Laboratory Co. of America by 12.8% in the 4th quarter. Brooklyn Investment Group now owns 651 shares of the medical research company’s stock worth $149,000 after purchasing an additional 74 shares during the last quarter. Merit Financial Group LLC acquired a new position in shares of Laboratory Co. of America during the fourth quarter valued at $636,000. First National Bank of Mount Dora Trust Investment Services boosted its holdings in Laboratory Co. of America by 0.7% in the fourth quarter. First National Bank of Mount Dora Trust Investment Services now owns 11,654 shares of the medical research company’s stock valued at $2,672,000 after acquiring an additional 84 shares during the last quarter. Avanza Fonder AB bought a new stake in Laboratory Co. of America during the 4th quarter worth about $1,589,000. Finally, Wealthcare Advisory Partners LLC lifted its position in Laboratory Co. of America by 23.9% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 2,543 shares of the medical research company’s stock valued at $583,000 after purchasing an additional 490 shares during the period. Institutional investors own 95.94% of the company’s stock.

Insiders Place Their Bets

In other news, CMO Amy B. Summy sold 3,672 shares of Laboratory Co. of America stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $238.91, for a total transaction of $877,277.52. Following the completion of the transaction, the chief marketing officer now directly owns 4,318 shares in the company, valued at approximately $1,031,613.38. The trade was a 45.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kerrii B. Anderson sold 1,000 shares of Laboratory Co. of America stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $235.00, for a total transaction of $235,000.00. Following the transaction, the director now directly owns 12,722 shares of the company’s stock, valued at approximately $2,989,670. This trade represents a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,572 shares of company stock valued at $6,145,209 in the last 90 days. 0.85% of the stock is currently owned by insiders.

Analysts Set New Price Targets

LH has been the subject of a number of recent research reports. HSBC raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Barclays increased their price target 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. Evercore ISI upgraded Laboratory Co. of America from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $260.00 to $265.00 in a report on Tuesday, January 7th. Robert W. Baird increased their target price on Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, Piper Sandler boosted their target price on Laboratory Co. of America from $235.00 to $240.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Four 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $260.54.

Laboratory Co. of America Stock Down 0.1 %

Laboratory Co. of America stock opened at $238.44 on Friday. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $247.99. 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 company has a 50 day moving average of $234.80 and a 200-day moving average of $225.60. The stock has a market capitalization of $19.94 billion, a PE ratio of 46.12, a price-to-earnings-growth ratio of 1.73 and a beta of 1.06.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings results on Thursday, October 24th. The medical research company reported $3.50 EPS for the quarter, topping the consensus estimate of $3.48 by $0.02. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.26 billion. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm posted $3.38 EPS. On average, equities research analysts anticipate that Laboratory Co. of America Holdings will post 14.51 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders 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 1.21%. Laboratory Co. of America’s dividend payout ratio is 55.71%.

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.