Laboratory Co. of America Holdings (NYSE:LH) Shares Acquired by Colonial Trust Co SC

Colonial Trust Co SC lifted its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 3.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,722 shares of the medical research company’s stock after buying an additional 53 shares during the period. Colonial Trust Co SC’s holdings in Laboratory Co. of America were worth $395,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Graney & King LLC purchased a new stake in shares of Laboratory Co. of America in the 4th quarter valued at about $26,000. Fortitude Family Office LLC increased its position in Laboratory Co. of America by 312.5% during the fourth quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock worth $30,000 after buying an additional 100 shares during the period. Geneos Wealth Management Inc. lifted its stake in Laboratory Co. of America by 309.8% in the fourth quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock valued at $39,000 after buying an additional 127 shares during the last quarter. Human Investing LLC acquired a new stake in shares of Laboratory Co. of America in the fourth quarter valued at approximately $39,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of Laboratory Co. of America during the fourth quarter worth approximately $44,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Stock Performance

Shares of LH opened at $246.11 on Thursday. The company has a market capitalization of $20.60 billion, a PE ratio of 27.90, a P/E/G ratio of 1.71 and a beta of 0.82. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $265.00. The company has a 50-day simple moving average of $234.00 and a 200-day simple moving average of $236.45. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings results on Tuesday, April 29th. The medical research company reported $3.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.73 by $0.11. The company had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.41 billion. Laboratory Co. of America had a net margin of 5.73% and a return on equity of 15.29%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the firm earned $3.68 EPS. Equities research analysts predict 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Thursday, May 29th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.17%. Laboratory Co. of America’s dividend payout ratio (DPR) is 33.29%.

Insider Activity

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,121 shares of the firm’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 completion of the transaction, the chief executive officer now directly owns 86,445 shares in the company, valued at approximately $21,146,175.90. This trade represents a 6.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Mark S. Schroeder sold 5,339 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $249.23, for a total transaction of $1,330,638.97. Following the completion of the sale, the chief operating officer now directly owns 4,960 shares in the company, valued at $1,236,180.80. This trade represents a 51.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,987 shares of company stock worth $4,171,895 over the last 90 days. 0.84% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on LH shares. Truist Financial reduced their price target on shares of Laboratory Co. of America from $285.00 to $274.00 and set a “buy” rating for the company in a research report on Friday, April 11th. StockNews.com cut shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Friday, April 18th. Redburn Atlantic assumed coverage on Laboratory Co. of America in a research report on Wednesday, April 2nd. They issued a “buy” rating and a $276.00 price target on the stock. Jefferies Financial Group increased their price objective on Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Finally, Robert W. Baird boosted their target price on Laboratory Co. of America from $253.00 to $267.00 and gave the company an “outperform” rating in a report on Wednesday, April 30th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $269.38.

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.