Vontobel Holding Ltd. Cuts Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Vontobel Holding Ltd. lessened its holdings in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 74.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,009 shares of the medical research company's stock after selling 14,930 shares during the period. Vontobel Holding Ltd.'s holdings in Laboratory Co. of America were worth $1,149,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. SouthState Corp purchased a new position in Laboratory Co. of America during the third quarter valued at $28,000. Horizon Bancorp Inc. IN acquired a new position in shares of Laboratory Co. of America during the 3rd quarter worth about $29,000. Fortitude Family Office LLC raised its position in shares of Laboratory Co. of America by 312.5% during the 4th quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company's stock worth $30,000 after purchasing an additional 100 shares during the last quarter. Concord Wealth Partners lifted its stake in Laboratory Co. of America by 43.3% in the 3rd quarter. Concord Wealth Partners now owns 172 shares of the medical research company's stock valued at $38,000 after buying an additional 52 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings in Laboratory Co. of America by 309.8% in the 4th quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company's stock worth $39,000 after buying an additional 127 shares during the last quarter. Institutional investors and hedge funds own 95.94% of the company's stock.

Laboratory Co. of America Trading Up 0.3 %

Shares of NYSE LH traded up $0.69 during midday trading on Friday, reaching $249.86. 410,967 shares of the stock were exchanged, compared to its average volume of 593,562. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $258.59. The stock has a market capitalization of $20.90 billion, a P/E ratio of 28.33, a PEG ratio of 1.70 and a beta of 1.07. The company has a 50 day simple moving average of $238.57 and a 200 day simple moving average of $231.55. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44.

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 (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%. As a group, equities analysts expect that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th will be given a $0.72 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a yield of 1.15%. Laboratory Co. of America's payout ratio is currently 32.65%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Robert W. Baird raised their target price on Laboratory Co. of America from $282.00 to $289.00 and gave the company an "outperform" rating in a research report on Friday, October 25th. Piper Sandler increased their price objective on Laboratory Co. of America from $240.00 to $260.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Evercore ISI raised shares of Laboratory Co. of America from an "in-line" rating to an "outperform" rating and lifted their target price for the stock from $260.00 to $265.00 in a research note on Tuesday, January 7th. Morgan Stanley upped their target price on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. Finally, Bank of America raised their price target on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $265.31.

Insiders Place Their Bets

In related news, CEO Adam H. Schechter sold 6,121 shares of the business's stock in a transaction on 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 in the company, valued at approximately $21,146,175.90. The trade was a 6.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kerrii B. Anderson sold 1,000 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $235.00, for a total value of $235,000.00. Following the transaction, the director now directly owns 12,722 shares in the company, valued at approximately $2,989,670. The trade was a 7.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,832 shares of company stock valued at $4,788,995 over the last 90 days. 0.85% of the stock is 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.