Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Parallel Advisors LLC

Parallel Advisors LLC reduced its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 4.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,402 shares of the medical research company’s stock after selling 59 shares during the quarter. Parallel Advisors LLC’s holdings in Laboratory Co. of America were worth $322,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Capital City Trust Co. FL grew its stake in Laboratory Co. of America by 1.5% during the 4th quarter. Capital City Trust Co. FL now owns 15,553 shares of the medical research company’s stock worth $3,567,000 after buying an additional 223 shares during the last quarter. Wealthcare Advisory Partners LLC grew its position in shares of Laboratory Co. of America by 23.9% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 2,543 shares of the medical research company’s stock worth $583,000 after acquiring an additional 490 shares during the last quarter. Mutual of America Capital Management LLC bought a new position in shares of Laboratory Co. of America during the third quarter worth about $2,316,000. Bryn Mawr Capital Management LLC increased its holdings in shares of Laboratory Co. of America by 51.2% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 1,495 shares of the medical research company’s stock worth $343,000 after acquiring an additional 506 shares during the period. Finally, Barclays PLC lifted its position in Laboratory Co. of America by 11.8% in the 3rd quarter. Barclays PLC now owns 620,721 shares of the medical research company’s stock valued at $138,718,000 after purchasing an additional 65,356 shares during the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.

Laboratory Co. of America Stock Down 0.8 %

NYSE LH opened at $233.97 on Friday. The company has a market capitalization of $19.58 billion, a P/E ratio of 26.53, a PEG ratio of 1.71 and a beta of 1.12. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month 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. The company’s 50 day simple moving average is $245.16 and its 200 day simple moving average is $234.28.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, beating analysts’ consensus estimates 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%. Equities research 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 declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Thursday, February 27th were paid a $0.72 dividend. The ex-dividend date was Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a yield of 1.23%. Laboratory Co. of America’s dividend payout ratio is currently 32.65%.

Analyst Ratings Changes

Several research analysts have commented on LH shares. StockNews.com upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. 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 report on Thursday, February 6th. 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. Barclays decreased their price target on Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating for the company in a research note on Friday, February 7th. Finally, Piper Sandler lifted their price objective on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the company a “neutral” rating in a research note 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $268.38.

Insiders Place Their Bets

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,121 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 86,445 shares of the company’s stock, valued at $21,146,175.90. The trade was a 6.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kerrii B. Anderson sold 1,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,500 shares of company stock worth $3,577,572. Company insiders own 0.85% of the company’s stock.

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.