Mayar Capital Ltd. Sells 6,339 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Mayar Capital Ltd. trimmed its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 33.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,433 shares of the medical research company’s stock after selling 6,339 shares during the quarter. Laboratory Co. of America makes up 3.7% of Mayar Capital Ltd.’s portfolio, making the stock its 9th biggest holding. Mayar Capital Ltd.’s holdings in Laboratory Co. of America were worth $2,851,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Farther Finance Advisors LLC lifted its position in Laboratory Co. of America by 17.7% during the third quarter. Farther Finance Advisors LLC now owns 1,385 shares of the medical research company’s stock valued at $310,000 after buying an additional 208 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Laboratory Co. of America by 5.3% during the third quarter. Van ECK Associates Corp now owns 13,868 shares of the medical research company’s stock worth $3,050,000 after purchasing an additional 694 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Laboratory Co. of America by 2.8% during the 3rd quarter. Principal Financial Group Inc. now owns 96,596 shares of the medical research company’s stock valued at $21,587,000 after acquiring an additional 2,595 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Laboratory Co. of America during the third quarter worth $66,000. Finally, Leavell Investment Management Inc. raised its stake in Laboratory Co. of America by 2.4% during the third quarter. Leavell Investment Management Inc. now owns 5,908 shares of the medical research company’s stock worth $1,320,000 after acquiring an additional 139 shares during the period. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on LH shares. Evercore ISI raised Laboratory Co. of America from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $260.00 to $265.00 in a report on Tuesday, January 7th. Bank of America increased their price objective 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. StockNews.com upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Barclays lowered their target price on Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating on the stock in a research note on Friday, February 7th. Finally, UBS Group reduced their price objective on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $268.38.

Laboratory Co. of America Stock Performance

NYSE:LH opened at $253.00 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. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $258.59. The company has a market cap of $21.18 billion, a price-to-earnings ratio of 28.68, a PEG ratio of 1.71 and a beta of 1.12. The stock has a fifty day moving average price of $243.68 and a 200-day moving average price of $233.72.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 earnings per share for the quarter, beating the consensus estimate 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%. As a group, equities analysts anticipate that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $2.88 annualized dividend and a yield of 1.14%. Laboratory Co. of America’s dividend payout ratio is currently 32.65%.

Insider Activity

In other Laboratory Co. of America news, CMO Amy B. Summy sold 226 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $250.40, for a total value of $56,590.40. Following the completion of the sale, the chief marketing officer now directly owns 4,544 shares of the company’s stock, valued at $1,137,817.60. This trade represents a 4.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Adam H. Schechter sold 6,121 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The shares were 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 owns 86,445 shares in the company, valued at $21,146,175.90. The trade was a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,500 shares of company stock worth $3,577,572 in the last quarter. 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.