Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Sandy Spring Bank

Sandy Spring Bank decreased its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,735 shares of the medical research company’s stock after selling 447 shares during the period. Sandy Spring Bank’s holdings in Laboratory Co. of America were worth $5,672,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Xponance Inc. lifted its stake in Laboratory Co. of America by 3.9% during the 4th quarter. Xponance Inc. now owns 12,000 shares of the medical research company’s stock worth $2,752,000 after acquiring an additional 445 shares in the last quarter. Generali Asset Management SPA SGR acquired a new position in Laboratory Co. of America during the 4th quarter worth about $5,847,000. Tocqueville Asset Management L.P. lifted its stake in Laboratory Co. of America by 96.4% during the 4th quarter. Tocqueville Asset Management L.P. now owns 22,070 shares of the medical research company’s stock worth $5,061,000 after acquiring an additional 10,834 shares in the last quarter. Signaturefd LLC lifted its stake in Laboratory Co. of America by 9.7% during the 4th quarter. Signaturefd LLC now owns 588 shares of the medical research company’s stock worth $135,000 after acquiring an additional 52 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its stake in Laboratory Co. of America by 5.5% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 10,069 shares of the medical research company’s stock worth $2,309,000 after acquiring an additional 525 shares in the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Laboratory Co. of America Trading Up 0.1 %

NYSE:LH opened at $239.83 on Thursday. The stock’s 50 day moving average price is $245.10 and its 200 day moving average price is $234.25. The company has a market capitalization of $20.07 billion, a PE ratio of 27.19, a P/E/G ratio of 1.71 and a beta of 1.12. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $258.59.

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 (EPS) 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 anticipate that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th were given a dividend of $0.72 per share. The ex-dividend date was Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a yield of 1.20%. Laboratory Co. of America’s payout ratio is 32.65%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on LH. Barclays reduced their price target on Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating on the stock in a research report on Friday, February 7th. Citigroup raised Laboratory Co. of America from a “neutral” rating to a “buy” rating and increased their price target for the company from $250.00 to $300.00 in a research report on Tuesday, March 4th. Morgan Stanley increased their price target on Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Evercore ISI raised Laboratory Co. of America from an “in-line” rating to an “outperform” rating and increased their price target for the company from $260.00 to $265.00 in a research report on Tuesday, January 7th. Finally, StockNews.com raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Three 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’s stock. According to MarketBeat, Laboratory Co. of America currently has an average rating of “Moderate Buy” and an average target price of $268.38.

Insiders Place Their Bets

In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 1,314 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $251.30, for a total transaction of $330,208.20. Following the completion of the sale, the executive vice president now directly owns 2,171 shares of the company’s stock, valued at approximately $545,572.30. This trade represents a 37.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Adam H. Schechter sold 6,121 shares of the firm’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 value of $1,497,319.02. Following the completion of the sale, the chief executive officer now directly owns 86,445 shares of the company’s stock, valued at $21,146,175.90. This represents a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,500 shares of company stock valued at $3,577,572. 0.85% of the stock is owned by company insiders.

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.