CIBC Private Wealth Group LLC Sells 160 Shares of Laboratory Co. of America Holdings (NYSE:LH)

CIBC Private Wealth Group LLC reduced its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,094 shares of the medical research company’s stock after selling 160 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Laboratory Co. of America were worth $2,599,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Norges Bank acquired a new stake in Laboratory Co. of America in the 4th quarter valued at about $239,811,000. Amundi boosted its position in Laboratory Co. of America by 344.9% in the 4th quarter. Amundi now owns 1,123,409 shares of the medical research company’s stock valued at $263,161,000 after buying an additional 870,903 shares during the last quarter. Madison Investment Advisors LLC acquired a new stake in shares of Laboratory Co. of America in the 4th quarter valued at $123,415,000. JPMorgan Chase & Co. lifted its stake in shares of Laboratory Co. of America by 9.5% during the third 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 period. Finally, Raymond James Financial Inc. bought a new position in Laboratory Co. of America in the fourth quarter valued at about $33,779,000. 95.94% of the stock is currently owned by institutional investors.

Laboratory Co. of America Stock Up 1.8 %

Laboratory Co. of America stock opened at $236.74 on Thursday. 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 50 day moving average of $244.33 and a 200-day moving average of $234.88. The stock has a market capitalization of $19.82 billion, a PE ratio of 26.84, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12.

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

Laboratory Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th were paid 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 1.22%. Laboratory Co. of America’s dividend payout ratio is currently 32.65%.

Insider Transactions at Laboratory Co. of America

In other Laboratory Co. of America news, CMO Amy B. Summy sold 226 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $250.40, for a total value of $56,590.40. Following the completion of the transaction, the chief marketing officer now directly owns 4,544 shares in the company, valued at $1,137,817.60. This trade represents a 4.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kerrii B. Anderson sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $235.00, for a total value of $235,000.00. Following the sale, the director now owns 12,722 shares in the company, valued at approximately $2,989,670. This represents a 7.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,258 shares of company stock valued at $3,753,177 in the last ninety days. 0.85% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

LH has been the subject of several recent research reports. Citigroup upgraded shares of Laboratory Co. of America from a “neutral” rating to a “buy” rating and upped their target price for the company from $250.00 to $300.00 in a research report on Tuesday, March 4th. UBS Group lowered their target price on shares of Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Evercore ISI upgraded Laboratory Co. of America from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $260.00 to $265.00 in a research report on Tuesday, January 7th. Jefferies Financial Group upped 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. Finally, Piper Sandler raised their target price on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Laboratory Co. of America currently has a consensus rating of “Moderate Buy” and a consensus target price of $270.38.

Laboratory Co. of America Profile

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