First Foundation Advisors Has $6.36 Million Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

First Foundation Advisors reduced its stake in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 10.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,724 shares of the medical research company's stock after selling 3,304 shares during the quarter. First Foundation Advisors' holdings in Laboratory Co. of America were worth $6,358,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Graney & King LLC acquired a new position in shares of Laboratory Co. of America in the 4th quarter valued at $26,000. Fortitude Family Office LLC increased 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 period. Geneos Wealth Management Inc. raised its position in Laboratory Co. of America by 309.8% in the fourth quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company's stock worth $39,000 after purchasing an additional 127 shares in the last quarter. Human Investing LLC bought a new position in Laboratory Co. of America during the fourth quarter worth about $39,000. Finally, Heck Capital Advisors LLC acquired a new stake in Laboratory Co. of America during the fourth quarter valued at approximately $44,000. 95.94% of the stock is owned by institutional investors.

Laboratory Co. of America Trading Down 1.7 %

Shares of LH stock traded down $3.80 on Tuesday, reaching $224.24. The company had a trading volume of 200,654 shares, compared to its average volume of 637,301. The company has a 50-day moving average of $239.60 and a 200-day moving average of $234.95. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $258.59. The stock has a market cap of $18.76 billion, a PE ratio of 25.42, a PEG ratio of 1.71 and a beta of 0.99. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67.

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Laboratory Co. of America (NYSE:LH - Get Free Report) last announced its quarterly earnings results 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 net margin of 5.73% and a return on equity of 15.29%. On average, equities analysts forecast that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Thursday, May 29th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.28%. Laboratory Co. of America's payout ratio is 32.65%.

Insiders Place Their Bets

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,121 shares of Laboratory Co. of America stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $244.62, for a total value of $1,497,319.02. Following the sale, 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Amy B. Summy sold 758 shares of the company's stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $231.67, for a total value of $175,605.86. Following the transaction, the executive vice president now directly owns 5,302 shares of the company's stock, valued at $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. In the last three months, insiders have sold 14,258 shares of company stock worth $3,518,177. Company insiders own 0.85% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Evercore ISI raised Laboratory Co. of America from an "in-line" rating to an "outperform" rating and boosted their price target for the company from $260.00 to $265.00 in a research note on Tuesday, January 7th. Redburn Atlantic assumed 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. Morgan Stanley boosted their price target on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company an "overweight" rating in a research report on Tuesday, December 17th. StockNews.com upgraded Laboratory Co. of America from a "hold" rating to a "buy" rating in a research report on Sunday, April 6th. Finally, UBS Group lowered 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. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $268.77.

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.