Hsbc Holdings PLC Cuts Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Hsbc Holdings PLC lowered its position in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 8.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 161,976 shares of the medical research company's stock after selling 14,896 shares during the quarter. Hsbc Holdings PLC owned about 0.19% of Laboratory Co. of America worth $37,184,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Capital City Trust Co. FL increased its position in shares of Laboratory Co. of America by 1.5% during the fourth quarter. Capital City Trust Co. FL now owns 15,553 shares of the medical research company's stock valued at $3,567,000 after buying an additional 223 shares during the period. Wealthcare Advisory Partners LLC increased its holdings in Laboratory Co. of America by 23.9% during the 4th 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 period. Bryn Mawr Capital Management LLC lifted its stake in 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 purchasing an additional 506 shares in the last quarter. Barclays PLC lifted its stake 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 worth $138,718,000 after purchasing an additional 65,356 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake in Laboratory Co. of America by 7.0% in the 4th quarter. Nordea Investment Management AB now owns 1,052,927 shares of the medical research company's stock worth $243,321,000 after purchasing an additional 68,974 shares in the last quarter. Hedge funds and other institutional investors own 95.94% of the company's stock.

Laboratory Co. of America Trading Up 0.9 %

Shares of LH stock traded up $2.14 on Monday, hitting $230.45. 983,764 shares of the company's stock traded hands, compared to its average volume of 633,708. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year 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 simple moving average is $234.95 and its 200 day simple moving average is $235.38. The stock has a market capitalization of $19.28 billion, a price-to-earnings ratio of 26.13, a P/E/G ratio of 1.71 and a beta of 0.99.

Laboratory Co. of America (NYSE:LH - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) for the quarter, beating 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%. Equities analysts forecast that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Thursday, May 29th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.25%. Laboratory Co. of America's payout ratio is 32.65%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LH. UBS Group lowered their target price on shares of Laboratory Co. of America from $293.00 to $286.00 and set a "buy" rating on the stock in a research note on Tuesday, January 28th. Barclays lowered their target price on shares of Laboratory Co. of America from $260.00 to $240.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 10th. Truist Financial lowered their target price on shares of Laboratory Co. of America from $285.00 to $274.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Evercore ISI upgraded shares of Laboratory Co. of America from an "in-line" rating to an "outperform" rating and increased their target price for the stock from $260.00 to $265.00 in a research note on Tuesday, January 7th. Finally, Redburn Atlantic began coverage on shares of Laboratory Co. of America in a research note on Wednesday, April 2nd. They issued a "buy" rating and a $276.00 target price on the stock. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned 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 target price of $268.77.

Insider Activity

In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 500 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $255.63, for a total transaction of $127,815.00. Following the sale, the director now directly owns 13,166 shares of the company's stock, valued at $3,365,624.58. This trade represents a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Amy B. Summy sold 758 shares of the firm's stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $231.67, for a total value of $175,605.86. Following the sale, the executive vice president now directly owns 5,302 shares in the company, valued at approximately $1,228,314.34. This represents a 12.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,258 shares of company stock valued at $3,518,177 in the last ninety days. 0.84% of the stock is currently owned by company 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.