M&T Bank Corp Sells 94 Shares of Laboratory Co. of America Holdings (NYSE:LH)

M&T Bank Corp reduced its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 0.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,336 shares of the medical research company’s stock after selling 94 shares during the quarter. M&T Bank Corp’s holdings in Laboratory Co. of America were worth $3,516,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC grew its stake in shares of 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 during the last quarter. Van ECK Associates Corp grew its stake 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 valued at $3,050,000 after buying an additional 694 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Laboratory Co. of America by 2.8% during the third quarter. Principal Financial Group Inc. now owns 96,596 shares of the medical research company’s stock valued at $21,587,000 after buying an additional 2,595 shares during the last quarter. Capital Performance Advisors LLP bought a new position in shares of Laboratory Co. of America during the third quarter valued at approximately $66,000. Finally, Leavell Investment Management Inc. grew its stake in shares of 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 valued at $1,320,000 after buying an additional 139 shares during the last quarter. 95.94% of the stock is owned by institutional investors.

Insider Activity

In other 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 transaction of $235,000.00. Following the completion of the sale, the director now owns 12,722 shares in the company, valued at approximately $2,989,670. This represents a 7.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO Amy B. Summy sold 226 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $250.40, for a total value of $56,590.40. Following the sale, the chief marketing officer now owns 4,544 shares of the company’s stock, valued at approximately $1,137,817.60. This represents a 4.74 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,500 shares of company stock worth $3,577,572. Insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Down 0.4 %

Laboratory Co. of America stock opened at $253.00 on Friday. The business has a fifty day moving average of $243.68 and a two-hundred day moving average of $233.72. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67. The firm has a market cap of $21.18 billion, a P/E ratio of 28.68, a P/E/G ratio of 1.71 and a beta of 1.12. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $258.59.

Laboratory Co. of America (NYSE:LH) last posted its 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, analysts forecast that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be issued 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 dividend yield of 1.14%. Laboratory Co. of America’s dividend payout ratio is presently 32.65%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Evercore ISI raised Laboratory Co. of America from an “in-line” rating to an “outperform” rating and upped their target price for the company from $260.00 to $265.00 in a research note on Tuesday, January 7th. UBS Group lowered their price target on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Jefferies Financial Group boosted their price target on Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Piper Sandler boosted their price target on Laboratory Co. of America from $240.00 to $260.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Finally, StockNews.com upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Three 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $268.38.

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.