Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Ipswich Investment Management Co. Inc.

Ipswich Investment Management Co. Inc. lowered its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 14.1% in the fourth quarter, HoldingsChannel reports. The firm owned 1,220 shares of the medical research company’s stock after selling 200 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in Laboratory Co. of America were worth $280,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. State Street Corp grew its holdings in shares of 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 purchasing an additional 25,469 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its stake in Laboratory Co. of America by 1.5% in the third quarter. Diamond Hill Capital Management Inc. now owns 1,978,686 shares of the medical research company’s stock worth $442,197,000 after acquiring an additional 29,046 shares during the last quarter. Geode Capital Management LLC lifted its stake in Laboratory Co. of America by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,964,743 shares of the medical research company’s stock worth $437,561,000 after acquiring an additional 13,298 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Laboratory Co. of America by 9.5% in the third quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company’s stock worth $431,405,000 after acquiring an additional 167,137 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Laboratory Co. of America by 2.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,916,505 shares of the medical research company’s stock worth $437,357,000 after acquiring an additional 51,045 shares during the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Laboratory Co. of America Stock Performance

Shares of Laboratory Co. of America stock opened at $249.86 on Friday. The firm’s fifty day simple moving average is $238.57 and its 200-day simple moving average is $231.55. The stock has a market capitalization of $20.90 billion, a price-to-earnings ratio of 28.33, a PEG ratio of 1.70 and a beta of 1.07. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $258.59. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30.

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

Laboratory Co. of America Dividend Announcement

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

Wall Street Analyst Weigh In

LH has been the subject of a number of recent research reports. StockNews.com upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Bank of America lifted their price target on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Hsbc Global Res upgraded shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Jefferies Financial Group lifted their price target on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Finally, Evercore ISI upgraded shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $260.00 to $265.00 in a research note on Tuesday, January 7th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $265.31.

Insider Activity

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,121 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $244.62, for a total value of $1,497,319.02. Following the transaction, the chief executive officer now directly owns 86,445 shares of the company’s stock, valued at approximately $21,146,175.90. The trade was a 6.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kerrii B. Anderson sold 1,000 shares of the business’s stock in a transaction on 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 transaction, the director now directly owns 12,722 shares in the company, valued at $2,989,670. This represents a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,832 shares of company stock valued at $4,788,995 in the last ninety days. 0.85% of the stock is currently owned by company insiders.

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.