First National Bank of Mount Dora Trust Investment Services Has $2.67 Million Stake in Laboratory Co. of America Holdings (NYSE:LH)

First National Bank of Mount Dora Trust Investment Services raised its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 0.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,654 shares of the medical research company’s stock after buying an additional 84 shares during the period. First National Bank of Mount Dora Trust Investment Services’ holdings in Laboratory Co. of America were worth $2,672,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of LH. Select Equity Group L.P. acquired a new stake in shares of Laboratory Co. of America during the second quarter worth approximately $73,928,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Laboratory Co. of America by 16.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,865,460 shares of the medical research company’s stock worth $416,893,000 after buying an additional 263,105 shares in the last quarter. FMR LLC increased its holdings in shares of 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 worth $354,528,000 after buying an additional 230,708 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of 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 during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Laboratory Co. of America by 95.5% during the second quarter. AQR Capital Management LLC now owns 282,964 shares of the medical research company’s stock valued at $57,527,000 after purchasing an additional 138,211 shares during the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Piper Sandler increased their price target on shares of Laboratory Co. of America from $235.00 to $240.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. StockNews.com cut shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Barclays increased their price target on shares of Laboratory Co. of America from $234.00 to $249.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. HSBC raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Finally, Robert W. Baird increased 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 note on Friday, October 25th. Four investment 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. Based on data from MarketBeat.com, Laboratory Co. of America presently has a consensus rating of “Moderate Buy” and an average target price of $260.54.

Laboratory Co. of America Stock Down 0.1 %

Shares of LH stock opened at $238.44 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $247.99. The firm’s fifty day moving average price is $234.80 and its two-hundred day moving average price is $225.60. The firm has a market capitalization of $19.94 billion, a P/E ratio of 46.12, a PEG ratio of 1.73 and a beta of 1.06.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same period in the previous year, the business earned $3.38 EPS. The company’s revenue was up 7.4% compared to the same quarter last year. On average, equities analysts predict that Laboratory Co. of America Holdings will post 14.51 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.21%. Laboratory Co. of America’s payout ratio is currently 55.71%.

Insider Activity

In related news, Director Kerrii B. Anderson sold 1,000 shares of Laboratory Co. of America stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total transaction of $235,000.00. Following the completion of the sale, the director now owns 12,722 shares of the company’s stock, valued at approximately $2,989,670. The trade was a 7.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Adam H. Schechter sold 6,189 shares of Laboratory Co. of America stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $243.47, for a total transaction of $1,506,835.83. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 25,572 shares of company stock valued at $6,145,209 in the last quarter. Company insiders own 0.85% of the company’s stock.

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.