Bank of Montreal Can Has $29.52 Million Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Bank of Montreal Can cut its stake in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 13.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 128,746 shares of the medical research company's stock after selling 20,445 shares during the period. Bank of Montreal Can owned 0.15% of Laboratory Co. of America worth $29,524,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in LH. Cerity Partners LLC lifted its holdings in shares of Laboratory Co. of America by 4.2% during the 4th quarter. Cerity Partners LLC now owns 85,156 shares of the medical research company's stock valued at $19,491,000 after acquiring an additional 3,462 shares in the last quarter. FMR LLC lifted its stake in shares of Laboratory Co. of America by 2.2% during the fourth quarter. FMR LLC now owns 1,620,826 shares of the medical research company's stock worth $371,688,000 after purchasing an additional 34,429 shares in the last quarter. 2Xideas AG boosted its position in shares of Laboratory Co. of America by 49.1% in the fourth quarter. 2Xideas AG now owns 56,198 shares of the medical research company's stock worth $12,887,000 after buying an additional 18,495 shares during the period. Peapack Gladstone Financial Corp grew its stake in shares of Laboratory Co. of America by 0.4% in the fourth quarter. Peapack Gladstone Financial Corp now owns 93,317 shares of the medical research company's stock valued at $21,399,000 after buying an additional 387 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Laboratory Co. of America by 3.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 294,141 shares of the medical research company's stock valued at $67,452,000 after buying an additional 9,432 shares during the period. 95.94% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on LH shares. Redburn Atlantic began coverage on Laboratory Co. of America in a research report on Wednesday, April 2nd. They set a "buy" rating and a $276.00 target price on the stock. Citigroup upgraded Laboratory Co. of America from a "neutral" rating to a "buy" rating and boosted their price target for the company from $250.00 to $300.00 in a report on Tuesday, March 4th. Truist Financial reduced their price objective on Laboratory Co. of America from $285.00 to $274.00 and set a "buy" rating on the stock in a research note on Friday. UBS Group lowered their target price 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. Finally, Morgan Stanley raised their price target on shares of 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. Three investment 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's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $268.77.

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 1,314 shares of the company's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $251.30, for a total value of $330,208.20. Following the transaction, the executive vice president now owns 2,171 shares of the company's stock, valued at approximately $545,572.30. This represents a 37.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Amy B. Summy sold 758 shares of the firm's stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $231.67, for a total transaction of $175,605.86. Following the completion of the transaction, the executive vice president now owns 5,302 shares of the company's stock, valued at approximately $1,228,314.34. The trade was 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 worth $3,518,177 over the last quarter. 0.85% of the stock is currently owned by company insiders.

Laboratory Co. of America Stock Performance

LH stock traded down $2.19 on Tuesday, reaching $225.85. The company's stock had a trading volume of 297,905 shares, compared to its average volume of 637,758. The firm has a fifty day moving average of $239.60 and a two-hundred day moving average of $234.95. 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 has a market capitalization of $18.90 billion, a P/E ratio of 25.61, a price-to-earnings-growth ratio of 1.71 and a beta of 0.99. Laboratory Co. of America Holdings has a 52 week low of $191.97 and a 52 week high of $258.59.

Laboratory Co. of America (NYSE:LH - Get Free Report) last issued its quarterly earnings results 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%. As a group, analysts predict that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Thursday, May 29th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.28%. Laboratory Co. of America's dividend payout ratio (DPR) is presently 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.