Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC reduced its stake in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 98.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 967 shares of the medical research company's stock after selling 88,021 shares during the period. SG Americas Securities LLC's holdings in Laboratory Co. of America were worth $222,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. SouthState Corp bought a new stake in shares of Laboratory Co. of America during the 3rd quarter valued at about $28,000. Horizon Bancorp Inc. IN bought a new position in Laboratory Co. of America during the third quarter worth $29,000. 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 purchasing an additional 100 shares in the last quarter. Riverview Trust Co raised its holdings in shares of Laboratory Co. of America by 172.6% during the third quarter. Riverview Trust Co now owns 169 shares of the medical research company's stock valued at $38,000 after purchasing an additional 107 shares during the period. Finally, Concord Wealth Partners grew its stake in shares of 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 during the period. Institutional investors and hedge funds own 95.94% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. StockNews.com upgraded Laboratory Co. of America from a "hold" rating to a "buy" rating in a research note on Friday. Morgan Stanley boosted their target price on Laboratory Co. of America from $260.00 to $270.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 17th. HSBC raised Laboratory Co. of America from a "hold" rating to a "buy" rating in a research report on Wednesday, October 30th. Robert W. Baird upped their price objective on Laboratory Co. of America from $282.00 to $289.00 and gave the company an "outperform" rating in a research note on Friday, October 25th. Finally, Piper Sandler boosted their price target on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the stock a "neutral" rating in a report on Monday. Three research 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 company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $265.31.

Laboratory Co. of America Trading Up 0.1 %

Shares of LH traded up $0.15 during trading hours on Tuesday, reaching $245.23. 408,960 shares of the company traded hands, compared to its average volume of 602,028. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $258.59. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67. The company's fifty day moving average price is $236.76 and its two-hundred day moving average price is $230.24. The company has a market capitalization of $20.51 billion, a price-to-earnings ratio of 27.80, a price-to-earnings-growth ratio of 1.84 and a beta of 1.07.

Laboratory Co. of America (NYSE:LH - Get Free Report) last released its earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share for the quarter, topping analysts' consensus estimates 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%. Equities research analysts predict that Laboratory Co. of America Holdings will post 15.96 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date is Thursday, February 27th. Laboratory Co. of America's dividend payout ratio (DPR) is 32.65%.

Insider Buying and Selling

In other news, Director Kerrii B. Anderson sold 1,000 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total value of $235,000.00. Following the sale, the director now owns 12,722 shares of the company's stock, valued at approximately $2,989,670. This represents a 7.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Amy B. Summy sold 3,672 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $238.91, for a total transaction of $877,277.52. Following the completion of the sale, the chief marketing officer now directly owns 4,318 shares in the company, valued at $1,031,613.38. This trade represents a 45.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,383 shares of company stock valued at $4,408,373. 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.