Corient Private Wealth LLC Reduces Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

Corient Private Wealth LLC cut its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 2.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 32,883 shares of the medical research company’s stock after selling 959 shares during the period. Corient Private Wealth LLC’s holdings in Laboratory Co. of America were worth $7,541,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in LH. Private Trust Co. NA raised its position in 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 valued at $300,000 after purchasing an additional 41 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of Laboratory Co. of America by 0.5% in the fourth quarter. Empowered Funds LLC now owns 8,025 shares of the medical research company’s stock valued at $1,840,000 after buying an additional 43 shares during the last quarter. SP Asset Management LLC boosted its stake in shares of Laboratory Co. of America by 0.3% during the fourth quarter. SP Asset Management LLC now owns 15,186 shares of the medical research company’s stock worth $3,483,000 after buying an additional 43 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in shares of Laboratory Co. of America by 0.4% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 12,780 shares of the medical research company’s stock worth $2,931,000 after buying an additional 45 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its position in Laboratory Co. of America by 0.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 7,194 shares of the medical research company’s stock valued at $1,650,000 after acquiring an additional 46 shares during the period. 95.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Laboratory Co. of America

In other news, CEO Adam H. Schechter sold 6,121 shares of Laboratory Co. of America stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $244.62, for a total transaction 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. The trade was a 6.61 % decrease in their position. The sale was disclosed in a filing 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 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 sale, 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 sold a total of 14,500 shares of company stock worth $3,577,572 in the last 90 days. 0.85% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Barclays dropped their target price on Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating on the stock in a report on Friday, February 7th. Morgan Stanley upped their price objective on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. StockNews.com raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Jefferies Financial Group raised their price objective on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Finally, Piper Sandler boosted their target price on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Laboratory Co. of America currently has a consensus rating of “Moderate Buy” and a consensus target price of $268.38.

Laboratory Co. of America Stock Performance

LH opened at $235.60 on Friday. The business has a 50 day moving average price of $245.13 and a two-hundred day moving average price of $234.25. The company has a market capitalization of $19.72 billion, a price-to-earnings ratio of 26.71, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $258.59. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30.

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

Laboratory Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th were given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend was Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio is 32.65%.

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.