Congress Wealth Management LLC DE Has $280,000 Stake in Laboratory Co. of America Holdings (NYSE:LH)

Congress Wealth Management LLC DE trimmed its position in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 72.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,220 shares of the medical research company's stock after selling 3,212 shares during the quarter. Congress Wealth Management LLC DE's holdings in Laboratory Co. of America were worth $280,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. FMR LLC grew its holdings in Laboratory Co. of America by 17.0% in the 3rd quarter. FMR LLC now owns 1,586,397 shares of the medical research company's stock valued at $354,528,000 after buying an additional 230,708 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Laboratory Co. of America in the third quarter worth $596,000. CreativeOne Wealth LLC increased its position in Laboratory Co. of America by 19.7% during the third quarter. CreativeOne Wealth LLC now owns 1,488 shares of the medical research company's stock worth $332,000 after acquiring an additional 245 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Laboratory Co. of America by 14.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,689 shares of the medical research company's stock valued at $3,953,000 after purchasing an additional 2,234 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Laboratory Co. of America by 5.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 914,019 shares of the medical research company's stock valued at $204,265,000 after purchasing an additional 49,203 shares during the period. 95.94% of the stock is owned by institutional investors.

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Laboratory Co. of America Price Performance

NYSE:LH traded up $3.95 on Wednesday, reaching $236.60. The stock had a trading volume of 351,363 shares, compared to its average volume of 622,476. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $19.80 billion, a P/E ratio of 26.83, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $258.59. The stock has a fifty day moving average price of $244.45 and a 200-day moving average price of $234.86.

Laboratory Co. of America (NYSE:LH - Get Free Report) last announced its earnings results on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, topping the consensus estimate 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%. Research analysts forecast that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th were issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.22%. The ex-dividend date was Thursday, February 27th. Laboratory Co. of America's payout ratio is presently 32.65%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on LH. Redburn Atlantic started coverage on shares of Laboratory Co. of America in a report on Wednesday. They set a "buy" rating and a $276.00 price objective on the stock. Piper Sandler upped their price target 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. Morgan Stanley raised their price objective on 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. UBS Group cut their target price on Laboratory Co. of America from $293.00 to $286.00 and set a "buy" rating for the company in a research note on Tuesday, January 28th. Finally, Citigroup upgraded shares of Laboratory Co. of America from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $250.00 to $300.00 in a research note on Tuesday, March 4th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $270.38.

Insider Activity

In related news, Director Kerrii B. Anderson sold 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, January 7th. The shares were 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 owns 12,722 shares of the company's stock, valued at $2,989,670. This trade represents a 7.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Adam H. Schechter sold 6,121 shares of the business's stock in a transaction that occurred on Tuesday, February 11th. The stock was 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 owns 86,445 shares of the company's stock, valued at $21,146,175.90. This trade represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,258 shares of company stock worth $3,753,177. 0.85% of the stock is owned by corporate insiders.

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.