Glenview Trust co Has $514,000 Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

Glenview Trust co trimmed its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 30.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,240 shares of the medical research company’s stock after selling 964 shares during the quarter. Glenview Trust co’s holdings in Laboratory Co. of America were worth $514,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in LH. Amundi boosted its holdings in Laboratory Co. of America by 344.9% during the fourth quarter. Amundi now owns 1,123,409 shares of the medical research company’s stock valued at $263,161,000 after purchasing an additional 870,903 shares in the last quarter. Madison Investment Advisors LLC acquired a new stake in Laboratory Co. of America during the fourth quarter valued at approximately $123,415,000. FMR LLC boosted its holdings in Laboratory Co. of America by 17.0% during the third quarter. FMR LLC now owns 1,586,397 shares of the medical research company’s stock valued at $354,528,000 after purchasing an additional 230,708 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Laboratory Co. of America by 9.5% during the third quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company’s stock valued at $431,405,000 after purchasing an additional 167,137 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Laboratory Co. of America in the 4th quarter worth approximately $33,779,000. 95.94% of the stock is owned by institutional investors and hedge funds.

Laboratory Co. of America Stock Performance

Shares of Laboratory Co. of America stock opened at $240.43 on Tuesday. The firm has a fifty day moving average of $244.90 and a two-hundred day moving average of $234.14. The stock has a market capitalization of $20.12 billion, a price-to-earnings ratio of 27.26, a PEG ratio of 1.71 and a beta of 1.12. Laboratory Co. of America Holdings has a 52 week low of $191.97 and a 52 week high of $258.59. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44.

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

Laboratory Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th were given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.20%. The ex-dividend date was Thursday, February 27th. Laboratory Co. of America’s payout ratio is 32.65%.

Insider Buying and Selling at Laboratory Co. of America

In related news, Director Kerrii B. Anderson sold 1,000 shares of the company’s 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 completion of the sale, the director now owns 12,722 shares in the company, valued at $2,989,670. This represents a 7.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Adam H. Schechter sold 6,121 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $244.62, for a total transaction of $1,497,319.02. Following the completion of the sale, the chief executive officer now owns 86,445 shares of the company’s stock, valued at approximately $21,146,175.90. This represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,500 shares of company stock worth $3,577,572. Insiders own 0.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Citigroup raised Laboratory Co. of America from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $250.00 to $300.00 in a report on Tuesday, March 4th. StockNews.com raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Jefferies Financial Group boosted their target price on Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. UBS Group reduced their target price on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Finally, Evercore ISI raised Laboratory Co. of America from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $260.00 to $265.00 in a report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Laboratory Co. of America presently has an average rating of “Moderate Buy” and an average price target of $268.38.

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.