Investment Advisory Services Inc. TX ADV Sells 220 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Investment Advisory Services Inc. TX ADV cut its position in Laboratory Co. of America Holdings (NYSE:LH) by 6.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,353 shares of the medical research company’s stock after selling 220 shares during the quarter. Investment Advisory Services Inc. TX ADV’s holdings in Laboratory Co. of America were worth $769,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its stake in Laboratory Co. of America by 16.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,865,460 shares of the medical research company’s stock valued at $416,893,000 after purchasing an additional 263,105 shares during the last quarter. FMR LLC increased 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 buying an additional 230,708 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Laboratory Co. of America by 9.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company’s stock valued at $431,405,000 after acquiring an additional 167,137 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Laboratory Co. of America by 22.4% during 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 acquiring an additional 105,443 shares during the last quarter. Finally, River Road Asset Management LLC increased 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 worth $63,490,000 after purchasing an additional 77,921 shares in the last quarter. Institutional investors own 95.94% of the company’s stock.

Insider Activity

In related news, Director Kerrii B. Anderson sold 1,000 shares of the stock in a transaction dated Tuesday, January 7th. The shares were 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 of the company’s stock, valued at $2,989,670. This represents a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Adam H. Schechter sold 6,189 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 87,441 shares of the company’s stock, valued at $21,289,260.27. This represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,572 shares of company stock valued at $5,915,209. 0.85% of the stock is currently owned by insiders.

Analyst Ratings Changes

LH has been the topic of several recent research reports. Jefferies Financial Group lifted their target price on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a research report on Thursday. Evercore ISI upgraded Laboratory Co. of America from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $260.00 to $265.00 in a report on Tuesday, January 7th. Barclays lowered their target price on Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating for the company in a research report on Friday. StockNews.com raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Robert W. Baird upped their target price on Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $263.77.

Laboratory Co. of America Price Performance

LH stock opened at $246.18 on Friday. The firm has a 50 day moving average of $236.67 and a 200-day moving average of $229.69. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $20.59 billion, a P/E ratio of 27.91, a price-to-earnings-growth ratio of 1.84 and a beta of 1.07. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $258.59.

Laboratory Co. of America (NYSE:LH) last announced its earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share for the quarter, beating analysts’ consensus estimates 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%. As a group, sell-side analysts predict that Laboratory Co. of America Holdings will post 15.96 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The firm 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 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio is presently 32.65%.

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.