44 Wealth Management LLC Sells 304 Shares of Laboratory Co. of America Holdings (NYSE:LH)

44 Wealth Management LLC reduced its position in Laboratory Co. of America Holdings (NYSE:LH) by 5.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,950 shares of the medical research company’s stock after selling 304 shares during the period. 44 Wealth Management LLC’s holdings in Laboratory Co. of America were worth $1,135,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Deseret Mutual Benefit Administrators grew its stake in Laboratory Co. of America by 28.2% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 232 shares of the medical research company’s stock worth $53,000 after buying an additional 51 shares during the last quarter. Transcend Capital Advisors LLC grew its stake in shares of Laboratory Co. of America by 2.4% during the fourth quarter. Transcend Capital Advisors LLC now owns 2,990 shares of the medical research company’s stock worth $686,000 after acquiring an additional 69 shares during the last quarter. Bradley Foster & Sargent Inc. CT increased its holdings in shares of Laboratory Co. of America by 14.3% during the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 7,993 shares of the medical research company’s stock valued at $1,833,000 after acquiring an additional 1,000 shares in the last quarter. Paradigm Asset Management Co. LLC raised its position in shares of Laboratory Co. of America by 1,676.6% in the 4th quarter. Paradigm Asset Management Co. LLC now owns 8,901 shares of the medical research company’s stock valued at $2,041,000 after purchasing an additional 8,400 shares during the last quarter. Finally, Private Advisor Group LLC grew its position in Laboratory Co. of America by 10.0% during the 4th quarter. Private Advisor Group LLC now owns 9,255 shares of the medical research company’s stock worth $2,122,000 after purchasing an additional 845 shares during the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Stock Up 0.3 %

LH opened at $249.86 on Friday. The company has a fifty day moving average of $238.57 and a two-hundred day moving average of $231.55. 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 Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $258.59. The stock 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 released its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share for the quarter, topping 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%. On average, research analysts expect that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be paid a $0.72 dividend. The ex-dividend date is Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a yield of 1.15%. Laboratory Co. of America’s dividend payout ratio is currently 32.65%.

Analyst Ratings Changes

LH has been the subject of several research reports. Evercore ISI upgraded shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $260.00 to $265.00 in a research note on Tuesday, January 7th. UBS Group dropped their price target on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Hsbc Global Res raised Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Piper Sandler lifted their target price on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Finally, StockNews.com upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $265.31.

Insider Buying and Selling

In related news, Director Kerrii B. Anderson sold 1,000 shares of the 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 directly owns 12,722 shares of the company’s stock, valued at approximately $2,989,670. This represents a 7.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Adam H. Schechter sold 6,121 shares of Laboratory Co. of America stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $244.62, for a total transaction of $1,497,319.02. Following the sale, the chief executive officer now directly owns 86,445 shares in the company, valued at approximately $21,146,175.90. This trade represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,832 shares of company stock valued at $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.