Triangle Securities Wealth Management Sells 51 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Triangle Securities Wealth Management lowered its stake in Laboratory Co. of America Holdings (NYSE:LH) by 1.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,041 shares of the medical research company’s stock after selling 51 shares during the quarter. Triangle Securities Wealth Management’s holdings in Laboratory Co. of America were worth $927,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. SouthState Corp acquired a new stake in shares of Laboratory Co. of America during the 3rd quarter valued at $28,000. Horizon Bancorp Inc. IN acquired a new stake in shares of Laboratory Co. of America during the third quarter valued at about $29,000. Fortitude Family Office LLC grew its holdings 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 worth $30,000 after purchasing an additional 100 shares during the last quarter. Riverview Trust Co increased its stake in shares of Laboratory Co. of America by 172.6% in the third quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock valued at $38,000 after buying an additional 107 shares during the period. Finally, Concord Wealth Partners raised its holdings in Laboratory Co. of America by 43.3% in the 3rd quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock valued at $38,000 after buying an additional 52 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LH has been the topic of a number of research reports. Morgan Stanley boosted their target price on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Piper Sandler increased their price objective on Laboratory Co. of America from $235.00 to $240.00 and gave the company a “neutral” rating in a report on Monday, October 28th. HSBC raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. Barclays increased their price target on 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. Finally, Robert W. Baird lifted their price objective on Laboratory Co. of America from $282.00 to $289.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $260.54.

Laboratory Co. of America Stock Performance

NYSE:LH opened at $238.44 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.66. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $247.99. The company has a fifty day moving average of $234.80 and a 200-day moving average of $225.76. The firm has a market capitalization of $19.94 billion, a P/E ratio of 46.12, a P/E/G ratio of 1.73 and a beta of 1.06.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share 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 during the quarter, compared to the consensus estimate of $3.26 billion. During the same period in the previous year, the firm posted $3.38 earnings per share. The business’s revenue was up 7.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Laboratory Co. of America Holdings will post 14.51 EPS for the current year.

Laboratory Co. of America Announces Dividend

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

Insider Buying and Selling at Laboratory Co. of America

In other news, Director Kerrii B. Anderson sold 1,000 shares of Laboratory Co. of America stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $230.00, for a total transaction of $230,000.00. Following the completion of the transaction, the director now directly owns 13,722 shares in the company, valued at $3,156,060. This trade represents a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adam H. Schechter sold 6,189 shares of the company’s 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 completion of the sale, the chief executive officer now owns 87,441 shares in the company, valued at $21,289,260.27. This represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,572 shares of company stock valued at $6,145,209. Company insiders own 0.85% of the company’s stock.

Laboratory Co. of America Profile

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