Sanctuary Advisors LLC Sells 156 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Sanctuary Advisors LLC decreased its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,300 shares of the medical research company’s stock after selling 156 shares during the quarter. Sanctuary Advisors LLC’s holdings in Laboratory Co. of America were worth $3,346,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of Laboratory Co. of America by 0.7% during the 3rd quarter. State Street Corp now owns 3,726,627 shares of the medical research company’s stock worth $832,827,000 after purchasing an additional 25,469 shares during the period. Diamond Hill Capital Management Inc. grew its position in Laboratory Co. of America by 1.5% during the third quarter. Diamond Hill Capital Management Inc. now owns 1,978,686 shares of the medical research company’s stock worth $442,197,000 after buying an additional 29,046 shares in the last quarter. Geode Capital Management LLC increased its stake in Laboratory Co. of America by 0.7% during the third quarter. Geode Capital Management LLC now owns 1,964,743 shares of the medical research company’s stock valued at $437,561,000 after acquiring an additional 13,298 shares during the period. JPMorgan Chase & Co. raised its holdings in Laboratory Co. of America by 9.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company’s stock valued at $431,405,000 after acquiring an additional 167,137 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Laboratory Co. of America by 2.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,916,505 shares of the medical research company’s stock worth $437,357,000 after acquiring an additional 51,045 shares during the period. Institutional investors and hedge funds own 95.94% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on LH. Jefferies Financial Group upped their target price on Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Evercore ISI upgraded shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $260.00 to $265.00 in a research note on Tuesday, January 7th. Hsbc Global Res upgraded shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. UBS Group lowered their target price on shares of Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Finally, Barclays cut their price target on shares of Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating for the company in a research note on Friday, February 7th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Laboratory Co. of America currently has an average rating of “Moderate Buy” and a consensus price target of $265.31.

Insider Activity

In other news, CEO Adam H. Schechter sold 6,121 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $244.62, for a total transaction of $1,497,319.02. Following the completion of the transaction, the chief executive officer now directly owns 86,445 shares in the company, valued at approximately $21,146,175.90. The trade was a 6.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kerrii B. Anderson sold 1,000 shares of Laboratory Co. of America stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $235.00, for a total transaction of $235,000.00. Following the transaction, the director now directly owns 12,722 shares in the company, valued at $2,989,670. The trade was a 7.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,832 shares of company stock valued at $4,788,995. 0.85% of the stock is currently owned by insiders.

Laboratory Co. of America Stock Performance

Laboratory Co. of America stock opened at $249.86 on Friday. 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 simple moving average of $238.57 and a 200 day simple moving average of $231.55. 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 stock has a market capitalization of $20.90 billion, a price-to-earnings ratio of 28.33, a P/E/G ratio of 1.70 and a beta of 1.07.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share for the quarter, beating 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%. On average, research analysts anticipate that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th will be given a dividend of $0.72 per share. The ex-dividend date is Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a yield of 1.15%. Laboratory Co. of America’s payout ratio is presently 32.65%.

About Laboratory Co. of America

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.