Webster Bank N. A. Decreases Stake in Laboratory Co. of America Holdings (NYSE:LH)

Webster Bank N. A. trimmed its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 38.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,343 shares of the medical research company’s stock after selling 1,462 shares during the period. Webster Bank N. A.’s holdings in Laboratory Co. of America were worth $537,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in LH. Private Trust Co. NA increased its holdings in shares of Laboratory Co. of America by 3.2% in the 3rd quarter. Private Trust Co. NA now owns 1,342 shares of the medical research company’s stock valued at $300,000 after acquiring an additional 41 shares during the last quarter. Empirical Finance LLC increased its stake in Laboratory Co. of America by 1.7% in the third quarter. Empirical Finance LLC now owns 3,055 shares of the medical research company’s stock valued at $683,000 after purchasing an additional 50 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in Laboratory Co. of America by 16.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 354 shares of the medical research company’s stock worth $81,000 after purchasing an additional 50 shares in the last quarter. Concord Wealth Partners lifted its position in shares of Laboratory Co. of America by 43.3% during the 3rd quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock worth $38,000 after buying an additional 52 shares during the last quarter. Finally, Rehmann Capital Advisory Group boosted its holdings in shares of Laboratory Co. of America by 1.9% in the 3rd quarter. Rehmann Capital Advisory Group now owns 2,844 shares of the medical research company’s stock valued at $637,000 after buying an additional 53 shares in the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Insider Activity

In other news, CEO Adam H. Schechter sold 6,189 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $243.47, for a total value of $1,506,835.83. Following the completion of the transaction, the chief executive officer now directly owns 87,441 shares of the company’s stock, valued at $21,289,260.27. The trade was a 6.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Glenn A. Eisenberg sold 11,711 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $240.43, for a total value of $2,815,675.73. Following the sale, the executive vice president now directly owns 31,289 shares in the company, valued at approximately $7,522,814.27. The trade was a 27.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,572 shares of company stock worth $5,915,209 over the last 90 days. 0.85% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LH. Robert W. Baird boosted their price target on shares of 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. Hsbc Global Res upgraded Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. StockNews.com downgraded Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Barclays lifted their target price on shares of Laboratory Co. of America from $234.00 to $249.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Finally, Bank of America lifted their price objective 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. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $260.54.

Laboratory Co. of America Stock Performance

NYSE:LH opened at $246.29 on Monday. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.66. The firm’s fifty day simple moving average is $234.97 and its 200-day simple moving average is $227.17. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $247.99. The stock 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 released its quarterly earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $3.48 by $0.02. The business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.26 billion. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The company’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.38 EPS. Analysts expect that Laboratory Co. of America Holdings will post 14.51 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. Shareholders of record on Thursday, February 27th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.17%. Laboratory Co. of America’s dividend payout ratio (DPR) is 55.71%.

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.