Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp cut its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 0.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,648 shares of the medical research company’s stock after selling 69 shares during the quarter. Fifth Third Bancorp’s holdings in Laboratory Co. of America were worth $6,570,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in LH. State Street Corp raised its holdings in Laboratory Co. of America by 0.7% in the third quarter. State Street Corp now owns 3,726,627 shares of the medical research company’s stock valued at $832,827,000 after acquiring an additional 25,469 shares in the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of Laboratory Co. of America by 1.5% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,978,686 shares of the medical research company’s stock worth $442,197,000 after purchasing an additional 29,046 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Laboratory Co. of America by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,964,743 shares of the medical research company’s stock valued at $437,561,000 after purchasing an additional 13,298 shares in the last quarter. JPMorgan Chase & Co. lifted its position 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 worth $431,405,000 after purchasing an additional 167,137 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Laboratory Co. of America by 16.4% in 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 purchasing an additional 263,105 shares in the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, EVP Glenn A. Eisenberg sold 11,711 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $240.43, for a total value of $2,815,675.73. Following the completion of the sale, the executive vice president now directly owns 31,289 shares in the company, valued at $7,522,814.27. This represents a 27.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kerrii B. Anderson sold 1,000 shares of Laboratory Co. of America 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 transaction, the director now owns 12,722 shares in the company, valued at approximately $2,989,670. This trade represents a 7.29 % 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 in the last 90 days. Corporate insiders own 0.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on LH shares. 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. Evercore ISI upgraded Laboratory Co. of America from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $260.00 to $265.00 in a research note on Tuesday, January 7th. StockNews.com lowered shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Robert W. Baird raised their price target on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, Morgan Stanley boosted their price objective on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $260.54.

Laboratory Co. of America Stock Performance

Shares of NYSE LH opened at $246.29 on Monday. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $247.99. The company has a market cap of $20.60 billion, a PE ratio of 47.64, a P/E/G ratio of 1.81 and a beta of 1.06. The stock has a 50 day simple moving average of $234.97 and a 200-day simple moving average of $227.17. 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 (NYSE:LH) last announced its quarterly earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.48 by $0.02. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.26 billion. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.38 EPS. On average, equities research analysts forecast that Laboratory Co. of America Holdings will post 14.51 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors 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 payout ratio is currently 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.