ING Groep NV Decreases Stake in Laboratory Co. of America Holdings (NYSE:LH)

ING Groep NV lessened its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 4.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,682 shares of the medical research company’s stock after selling 547 shares during the quarter. ING Groep NV’s holdings in Laboratory Co. of America were worth $2,450,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. SouthState Corp purchased a new stake in Laboratory Co. of America during the 3rd quarter valued at $28,000. Horizon Bancorp Inc. IN bought a new position in shares of Laboratory Co. of America during the third quarter valued at about $29,000. Fortitude Family Office LLC raised its stake in shares of Laboratory Co. of America by 312.5% during the fourth quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 100 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Laboratory Co. of America by 309.8% during the fourth quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock worth $39,000 after purchasing an additional 127 shares during the period. Finally, Human Investing LLC bought a new stake in shares of Laboratory Co. of America in the fourth quarter worth about $39,000. Institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Price Performance

LH stock opened at $249.86 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44. The firm has a 50 day moving average price of $238.93 and a 200-day moving average price of $231.69. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $258.59. The firm has a market capitalization of $20.90 billion, a price-to-earnings ratio of 28.33, a PEG ratio of 1.71 and a beta of 1.07.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.40 by $0.05. Laboratory Co. of America had a return on equity of 15.29% and a net margin of 5.73%. Equities research analysts forecast that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio (DPR) is 32.65%.

Analysts Set New Price Targets

A number of research analysts have commented on LH shares. Bank of America upped their price target on Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Barclays decreased their target price on Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating for the company in a report on Friday, February 7th. StockNews.com upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Hsbc Global Res upgraded shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Finally, Piper Sandler lifted their target price on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $265.31.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, EVP Glenn A. Eisenberg sold 11,711 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $240.43, for a total transaction 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. This trade represents a 27.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kerrii B. Anderson sold 1,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $235.00, for a total value of $235,000.00. Following the completion of the transaction, the director now owns 12,722 shares of the company’s stock, valued at $2,989,670. This represents a 7.29 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,832 shares of company stock worth $4,788,995. 0.85% of the stock is owned by corporate insiders.

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.