Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Ieq Capital LLC

Ieq Capital LLC decreased its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 21.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,189 shares of the medical research company’s stock after selling 4,428 shares during the period. Ieq Capital LLC’s holdings in Laboratory Co. of America were worth $3,712,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of LH. Private Trust Co. NA grew its stake in shares of Laboratory Co. of America by 3.2% in the 3rd quarter. Private Trust Co. NA now owns 1,342 shares of the medical research company’s stock worth $300,000 after purchasing an additional 41 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Laboratory Co. of America by 0.5% in the 4th quarter. Empowered Funds LLC now owns 8,025 shares of the medical research company’s stock worth $1,840,000 after purchasing an additional 43 shares during the last quarter. Empirical Finance LLC grew its stake in shares of Laboratory Co. of America by 1.7% in the 3rd quarter. Empirical Finance LLC now owns 3,055 shares of the medical research company’s stock worth $683,000 after purchasing an additional 50 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of Laboratory Co. of America by 16.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 354 shares of the medical research company’s stock worth $81,000 after purchasing an additional 50 shares during the last quarter. Finally, Concord Wealth Partners grew its stake in shares of Laboratory Co. of America by 43.3% in 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 last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Laboratory Co. of America Stock Performance

LH stock opened at $249.86 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44. The stock has a market cap of $20.90 billion, a P/E ratio of 28.33, a P/E/G ratio of 1.71 and a beta of 1.07. The firm has a 50 day simple moving average of $238.93 and a 200 day simple moving average of $231.69. Laboratory Co. of America Holdings has a 52 week low of $191.97 and a 52 week high of $258.59.

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

Laboratory Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio is currently 32.65%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LH. Bank of America lifted their price objective 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. Piper Sandler lifted 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 research note on Monday, February 10th. HSBC raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Jefferies Financial Group raised 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 report on Thursday, February 6th. Finally, Morgan Stanley raised their target price on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $265.31.

Insider Buying and Selling

In other Laboratory Co. of America news, 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 completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Glenn A. Eisenberg sold 11,711 shares of Laboratory Co. of America stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $240.43, for a total transaction of $2,815,675.73. Following the completion of the sale, the executive vice president now owns 31,289 shares of the company’s stock, 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. Over the last three months, insiders sold 19,832 shares of company stock worth $4,788,995. 0.85% of the stock is owned by company insiders.

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.