Equitable Trust Co. Has $18.38 Million Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Equitable Trust Co. cut its stake in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 8.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 80,165 shares of the medical research company's stock after selling 7,622 shares during the period. Laboratory Co. of America comprises approximately 1.0% of Equitable Trust Co.'s holdings, making the stock its 22nd largest position. Equitable Trust Co. owned approximately 0.10% of Laboratory Co. of America worth $18,383,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SouthState Corp acquired a new stake in Laboratory Co. of America in the third quarter valued at approximately $28,000. Horizon Bancorp Inc. IN acquired a new stake in Laboratory Co. of America in the third quarter valued at approximately $29,000. Fortitude Family Office LLC lifted its stake in Laboratory Co. of America by 312.5% in the fourth quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company's stock valued at $30,000 after acquiring an additional 100 shares during the last quarter. Riverview Trust Co lifted its stake in Laboratory Co. of America by 172.6% in the third quarter. Riverview Trust Co now owns 169 shares of the medical research company's stock valued at $38,000 after acquiring an additional 107 shares during the last quarter. Finally, Concord Wealth Partners lifted its stake in Laboratory Co. of America by 43.3% in the third quarter. Concord Wealth Partners now owns 172 shares of the medical research company's stock valued at $38,000 after acquiring an additional 52 shares during the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Barclays reduced their target price on shares of 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. UBS Group reduced their price objective on shares of 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. HSBC upgraded shares of Laboratory Co. of America from a "hold" rating to a "buy" rating in a research note on Wednesday, October 30th. Evercore ISI upgraded shares of Laboratory Co. of America from an "in-line" rating to an "outperform" rating and boosted their price objective for the stock from $260.00 to $265.00 in a research note on Tuesday, January 7th. Finally, StockNews.com upgraded shares of Laboratory Co. of America from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $265.31.

Laboratory Co. of America Stock Performance

Laboratory Co. of America stock traded up $4.16 on Thursday, hitting $245.31. The company's stock had a trading volume of 485,466 shares, compared to its average volume of 609,361. The firm has a market cap of $20.52 billion, a P/E ratio of 27.81, a price-to-earnings-growth ratio of 1.84 and a beta of 1.07. 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 fifty day moving average price of $236.92 and a 200-day moving average price of $230.55. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year high of $258.59.

Laboratory Co. of America (NYSE:LH - Get Free Report) last posted its earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share for the quarter, topping 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%. On average, equities analysts anticipate that Laboratory Co. of America Holdings will post 15.96 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Thursday, February 27th. Laboratory Co. of America's payout ratio is 32.65%.

Insider Transactions at Laboratory Co. of America

In related news, CEO Adam H. Schechter sold 6,121 shares of the company'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 transaction, the chief executive officer now owns 86,445 shares in the company, valued at $21,146,175.90. This represents a 6.61 % 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 Der Vaart Sandra D. Van sold 1,000 shares of the company's stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $239.42, for a total transaction of $239,420.00. Following the transaction, the executive vice president now owns 2,670 shares in the company, valued at approximately $639,251.40. This trade represents a 27.25 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,504 shares of company stock valued at $5,905,692. 0.85% of the stock is owned by 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.