Wealth Advisors of Tampa Bay LLC Sells 5,915 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Wealth Advisors of Tampa Bay LLC cut its stake in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 70.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,446 shares of the medical research company's stock after selling 5,915 shares during the period. Wealth Advisors of Tampa Bay LLC's holdings in Laboratory Co. of America were worth $561,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Graney & King LLC acquired a new stake in shares of Laboratory Co. of America in the fourth quarter valued at approximately $26,000. Fortitude Family Office LLC lifted its position in 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 buying an additional 100 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake 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 last quarter. Human Investing LLC bought a new position in shares of Laboratory Co. of America in the 4th quarter valued at about $39,000. Finally, Heck Capital Advisors LLC bought a new position in shares of Laboratory Co. of America in the 4th quarter valued at about $44,000. Institutional investors own 95.94% of the company's stock.

Insider Activity at Laboratory Co. of America

In other 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 completion of the transaction, the chief executive officer now owns 86,445 shares of the company's stock, valued at $21,146,175.90. This represents a 6.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CMO Amy B. Summy sold 226 shares of the firm's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $250.40, for a total value of $56,590.40. Following the transaction, the chief marketing officer now directly owns 4,544 shares of the company's stock, valued at approximately $1,137,817.60. This represents a 4.74 % 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 valued at $3,518,177 over the last ninety days. 0.85% of the stock is owned by corporate insiders.

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Laboratory Co. of America Stock Performance

NYSE:LH traded up $11.55 during mid-day trading on Wednesday, hitting $229.23. 294,566 shares of the stock were exchanged, compared to its average volume of 631,064. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44. The firm's 50-day simple moving average is $241.90 and its 200 day simple moving average is $234.79. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $258.59. The stock has a market capitalization of $19.19 billion, a price-to-earnings ratio of 25.92, a price-to-earnings-growth ratio of 1.71 and a beta of 0.99.

Laboratory Co. of America (NYSE:LH - Get Free Report) last issued 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 net margin of 5.73% and a return on equity of 15.29%. As a group, equities analysts anticipate that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

LH has been the subject of a number of analyst reports. UBS Group decreased their price target 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. Citigroup raised shares of Laboratory Co. of America from a "neutral" rating to a "buy" rating and raised their target price for the company from $250.00 to $300.00 in a research note on Tuesday, March 4th. Morgan Stanley upped 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. Piper Sandler boosted their price objective on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Finally, Bank of America raised their target price on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $270.38.

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.