Laboratory Co. of America Holdings (NYSE:LH) Position Lowered by Davidson Investment Advisors

Davidson Investment Advisors trimmed its position in Laboratory Co. of America Holdings (NYSE:LH) by 0.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 158,912 shares of the medical research company’s stock after selling 359 shares during the quarter. Laboratory Co. of America comprises 1.8% of Davidson Investment Advisors’ investment portfolio, making the stock its 10th biggest position. Davidson Investment Advisors’ holdings in Laboratory Co. of America were worth $36,442,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of LH. SouthState Corp acquired a new stake in shares of Laboratory Co. of America in the third quarter valued at about $28,000. Horizon Bancorp Inc. IN acquired a new position in shares of Laboratory Co. of America in the 3rd quarter worth approximately $29,000. Fortitude Family Office LLC grew its position in shares of Laboratory Co. of America by 312.5% in the 4th quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock worth $30,000 after acquiring an additional 100 shares in the last quarter. Concord Wealth Partners lifted its holdings 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. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Laboratory Co. of America by 309.8% in the 4th quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock worth $39,000 after purchasing an additional 127 shares during the last quarter. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LH has been the topic of several recent research reports. Hsbc Global Res raised Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Bank of America lifted their target price on Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Morgan Stanley lifted their target price on Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. StockNews.com raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Finally, Robert W. Baird lifted their price target on Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $265.31.

Laboratory Co. of America Price Performance

LH opened at $246.74 on Tuesday. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $258.59. The stock has a market cap of $20.64 billion, a price-to-earnings ratio of 27.98, a PEG ratio of 1.84 and a beta of 1.07. The stock has a fifty day moving average price of $237.42 and a 200 day moving average price of $231.14. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 earnings per share 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%. Analysts forecast that Laboratory Co. of America Holdings will post 15.96 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. Stockholders 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 dividend yield of 1.17%. The ex-dividend date is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio (DPR) is currently 32.65%.

Insider Activity

In related news, CEO Adam H. Schechter sold 6,121 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $244.62, for a total value of $1,497,319.02. Following the completion of the sale, the chief executive officer now owns 86,445 shares in the company, valued at $21,146,175.90. This represents a 6.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Glenn A. Eisenberg sold 11,711 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $240.43, for a total value of $2,815,675.73. Following the transaction, the executive vice president now owns 31,289 shares of the company’s stock, valued at approximately $7,522,814.27. This trade represents a 27.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,504 shares of company stock valued at $5,905,692 in the last 90 days. 0.85% of the stock is owned by company insiders.

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.