Forvis Mazars Wealth Advisors LLC Has $2.01 Million Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

Forvis Mazars Wealth Advisors LLC reduced its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 2.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,768 shares of the medical research company’s stock after selling 180 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in Laboratory Co. of America were worth $2,011,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of LH. SouthState Corp bought a new stake in shares of Laboratory Co. of America in the third quarter valued at about $28,000. Fortitude Family Office LLC lifted 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 during the period. Concord Wealth Partners grew its holdings in shares of Laboratory Co. of America by 43.3% during 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 in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Laboratory Co. of America by 309.8% during 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 in the last quarter. Finally, Human Investing LLC bought a new stake in shares of Laboratory Co. of America during the fourth quarter valued at approximately $39,000. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LH has been the topic of a number of recent research reports. Barclays decreased their price target on shares of Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating on the stock in a research note on Friday, February 7th. Bank of America lifted their target price on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Morgan Stanley increased their price target 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. Piper Sandler lifted their price objective on Laboratory Co. of America from $240.00 to $260.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Finally, StockNews.com raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Laboratory Co. of America has an average rating of “Moderate Buy” and a consensus target price of $265.31.

Insider Buying and Selling

In related news, EVP Glenn A. Eisenberg sold 11,711 shares of Laboratory Co. of America 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 completion of the sale, the executive vice president now directly owns 31,289 shares in the company, valued at $7,522,814.27. This trade represents a 27.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Adam H. Schechter sold 6,121 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 86,445 shares in the company, valued at approximately $21,146,175.90. The trade was a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,832 shares of company stock worth $4,788,995 in the last quarter. Insiders own 0.85% of the company’s stock.

Laboratory Co. of America Price Performance

Laboratory Co. of America stock opened at $249.86 on Monday. The business’s fifty day moving average is $238.93 and its two-hundred day moving average is $231.82. 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 firm 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. 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 issued its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share (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%. Equities research analysts forecast 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 $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio is currently 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.