Wells Fargo & Company MN Sells 17,924 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Wells Fargo & Company MN reduced its holdings in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 5.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 315,446 shares of the medical research company's stock after selling 17,924 shares during the quarter. Wells Fargo & Company MN owned 0.38% of Laboratory Co. of America worth $72,338,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Graney & King LLC bought a new stake in shares of Laboratory Co. of America in the 4th quarter valued at about $26,000. Fortitude Family Office LLC increased its holdings in shares of 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 purchasing an additional 100 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Laboratory Co. of America by 309.8% during 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 period. Human Investing LLC acquired a new position in Laboratory Co. of America in the 4th quarter valued at about $39,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of Laboratory Co. of America in the fourth quarter valued at approximately $44,000. 95.94% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on LH shares. Piper Sandler boosted their price target 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 raised their price target for the stock from $260.00 to $265.00 in a research report on Tuesday, January 7th. Morgan Stanley boosted their price objective on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company an "overweight" rating in a report on Tuesday, December 17th. 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 research note on Tuesday, March 4th. Finally, Jefferies Financial Group increased their target price on Laboratory Co. of America from $275.00 to $290.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Three equities research 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $268.77.

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Laboratory Co. of America Stock Up 2.7 %

Shares of NYSE:LH traded up $5.93 during mid-day trading on Monday, hitting $227.39. 76,772 shares of the company traded hands, compared to its average volume of 635,762. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67. The stock has a market cap of $19.03 billion, a P/E ratio of 25.78, a P/E/G ratio of 1.71 and a beta of 0.99. 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 50-day moving average price of $240.04 and a two-hundred day moving average price of $234.91.

Laboratory Co. of America (NYSE:LH - Get Free Report) last announced its quarterly earnings data 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 return on equity of 15.29% and a net margin of 5.73%. On average, equities research 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Thursday, May 29th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.27%. Laboratory Co. of America's dividend payout ratio is currently 32.65%.

Insider Buying and Selling at Laboratory Co. of America

In related news, CEO Adam H. Schechter sold 6,121 shares of the company's stock in a transaction that occurred 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 $21,146,175.90. This represents a 6.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Mark S. Schroeder sold 5,339 shares of Laboratory Co. of America stock in a transaction on Friday, February 28th. The shares were sold at an average price of $249.23, for a total value of $1,330,638.97. Following the transaction, the chief operating officer now owns 4,960 shares of the company's stock, valued at $1,236,180.80. The trade was a 51.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,258 shares of company stock worth $3,518,177 over the last three months. Company insiders own 0.85% of the company's stock.

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.