Ieq Capital LLC Sells 4,428 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Ieq Capital LLC decreased its position in Laboratory Co. of America Holdings (NYSE:LH) by 21.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,189 shares of the medical research company’s stock after selling 4,428 shares during the quarter. Ieq Capital LLC’s holdings in Laboratory Co. of America were worth $3,712,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of LH. State Street Corp increased its position in Laboratory Co. of America by 0.7% during the third quarter. State Street Corp now owns 3,726,627 shares of the medical research company’s stock worth $832,827,000 after acquiring an additional 25,469 shares during the period. Diamond Hill Capital Management Inc. increased its position in Laboratory Co. of America by 1.5% during the third quarter. Diamond Hill Capital Management Inc. now owns 1,978,686 shares of the medical research company’s stock worth $442,197,000 after acquiring an additional 29,046 shares during the period. Geode Capital Management LLC increased its position in Laboratory Co. of America by 0.7% during the third quarter. Geode Capital Management LLC now owns 1,964,743 shares of the medical research company’s stock worth $437,561,000 after acquiring an additional 13,298 shares during the period. JPMorgan Chase & Co. increased its position in Laboratory Co. of America by 9.5% during the third quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company’s stock worth $431,405,000 after acquiring an additional 167,137 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in Laboratory Co. of America by 2.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,916,505 shares of the medical research company’s stock worth $437,357,000 after acquiring an additional 51,045 shares during the period. Institutional investors own 95.94% of the company’s stock.

Analysts Set New Price Targets

LH has been the topic of a number of research reports. Piper Sandler boosted their target price on shares of 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. StockNews.com raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Hsbc Global Res raised shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. HSBC raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. Finally, Bank of America boosted their price target on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $265.31.

Insider Buying and Selling

In related news, Director Dwight Gary Gilliland sold 1,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $241.00, for a total transaction of $241,000.00. Following the transaction, the director now owns 7,712 shares in the company, valued at $1,858,592. This represents a 11.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Glenn A. Eisenberg sold 11,711 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $240.43, for a total transaction of $2,815,675.73. Following the transaction, the executive vice president now owns 31,289 shares in the company, valued at approximately $7,522,814.27. This trade represents a 27.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,832 shares of company stock worth $4,788,995 in the last 90 days. Corporate insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Up 0.3 %

Shares of NYSE:LH opened at $249.86 on Friday. Laboratory Co. of America Holdings has a 52 week low of $191.97 and a 52 week high of $258.59. 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 company’s fifty day moving average is $238.93 and its 200-day moving average is $231.69. The company has a market capitalization of $20.90 billion, a PE ratio of 28.33, a P/E/G ratio of 1.71 and a beta of 1.07.

Laboratory Co. of America (NYSE:LH) last issued its earnings results on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, beating 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 predict that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

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 given a dividend of $0.72 per share. The ex-dividend date is Thursday, February 27th. This represents a $2.88 annualized dividend and a yield of 1.15%. Laboratory Co. of America’s dividend payout ratio (DPR) is 32.65%.

Laboratory Co. of America Company Profile

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.