Avior Wealth Management LLC Cuts Stock Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Avior Wealth Management LLC cut its stake in Laboratory Co. of America Holdings (NYSE:LH) by 4.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 4,445 shares of the medical research company’s stock after selling 192 shares during the quarter. Avior Wealth Management LLC’s holdings in Laboratory Co. of America were worth $1,019,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. SouthState Corp acquired a new stake in shares of Laboratory Co. of America in the third quarter valued at $28,000. Horizon Bancorp Inc. IN purchased a new position in Laboratory Co. of America in the third quarter valued at $29,000. Fortitude Family Office LLC increased its holdings 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 buying an additional 100 shares during the last quarter. Riverview Trust Co increased its holdings in Laboratory Co. of America by 172.6% in the third quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock valued at $38,000 after buying an additional 107 shares during the last quarter. Finally, Concord Wealth Partners grew its holdings in shares of Laboratory Co. of America by 43.3% during the third quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock worth $38,000 after purchasing an additional 52 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Adam H. Schechter sold 6,189 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $243.47, for a total transaction of $1,506,835.83. Following the transaction, the chief executive officer now owns 87,441 shares in the company, valued at $21,289,260.27. This represents a 6.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 1,000 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $239.42, for a total transaction of $239,420.00. Following the completion of the transaction, the executive vice president now owns 2,670 shares in the company, valued at $639,251.40. The trade was a 27.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,572 shares of company stock worth $5,915,209 over the last three months. Corporate insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Performance

Shares of Laboratory Co. of America stock opened at $246.29 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.44. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $247.99. The firm’s 50-day simple moving average is $234.75 and its 200-day simple moving average is $226.67. The firm has a market cap of $20.60 billion, a PE ratio of 47.64, a price-to-earnings-growth ratio of 1.81 and a beta of 1.06.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings data on Thursday, October 24th. The medical research company reported $3.50 earnings per share for the quarter, beating analysts’ consensus estimates of $3.48 by $0.02. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter in the prior year, the firm earned $3.38 EPS. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. Equities analysts forecast that Laboratory Co. of America Holdings will post 14.51 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.17%. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 55.71%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on LH shares. Barclays raised their price target on Laboratory Co. of America from $234.00 to $249.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. StockNews.com downgraded shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Jefferies Financial Group restated a “buy” rating and issued a $275.00 price objective (up previously from $265.00) on shares of Laboratory Co. of America in a research report on Tuesday, December 10th. Bank of America lifted their price target on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Piper Sandler lifted their price objective on Laboratory Co. of America from $235.00 to $240.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Four investment 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $260.54.

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.