Royal Bank of Canada Sells 3,857 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Royal Bank of Canada lessened its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 0.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 817,116 shares of the medical research company’s stock after selling 3,857 shares during the period. Royal Bank of Canada’s holdings in Laboratory Co. of America were worth $187,381,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Graney & King LLC bought a new position in shares of Laboratory Co. of America in the 4th quarter worth approximately $26,000. Geneos Wealth Management Inc. lifted its stake 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 period. Human Investing LLC bought a new position in shares of Laboratory Co. of America in the 4th quarter worth approximately $39,000. Heck Capital Advisors LLC bought a new position in shares of Laboratory Co. of America in the 4th quarter worth approximately $44,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Laboratory Co. of America in the 4th quarter worth approximately $52,000. Institutional investors own 95.94% of the company’s stock.

Insider Buying and Selling at Laboratory Co. of America

In related news, CEO Adam H. Schechter sold 6,105 shares of the firm’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $248.73, for a total value of $1,518,496.65. Following the completion of the transaction, the chief executive officer now directly owns 98,962 shares of the company’s stock, valued at approximately $24,614,818.26. This trade represents a 5.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Amy B. Summy sold 226 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $250.40, for a total transaction of $56,590.40. Following the completion of the transaction, the chief marketing officer now directly owns 4,544 shares of the company’s stock, valued at approximately $1,137,817.60. This trade represents a 4.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,971 shares of company stock valued at $4,193,073 in the last three months. 0.84% of the stock is currently owned by corporate insiders.

Laboratory Co. of America Trading Up 1.4%

Shares of LH opened at $249.60 on Friday. 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 Holdings has a 1 year low of $191.97 and a 1 year high of $258.59. The company has a 50 day simple moving average of $233.57 and a two-hundred day simple moving average of $237.64. The firm has a market cap of $20.89 billion, a P/E ratio of 28.30, a price-to-earnings-growth ratio of 1.71 and a beta of 0.82.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings data 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. Laboratory Co. of America had a net margin of 5.73% and a return on equity of 15.29%. The business had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.41 billion. During the same period last year, the firm posted $3.68 EPS. The company’s revenue was up 5.3% on a year-over-year basis. On average, equities analysts expect 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 disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Thursday, May 29th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.15%. Laboratory Co. of America’s dividend payout ratio (DPR) is currently 33.29%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on LH shares. Robert W. Baird increased their price objective on shares of Laboratory Co. of America from $253.00 to $267.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Jefferies Financial Group increased their price objective on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Truist Financial raised their target price on shares of Laboratory Co. of America from $274.00 to $290.00 and gave the stock a “buy” rating in a research note on Monday, May 12th. StockNews.com cut shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, April 18th. Finally, Piper Sandler restated a “neutral” rating and set a $280.00 target price (up previously from $260.00) on shares of Laboratory Co. of America in a research note on Tuesday, May 6th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $270.62.

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.