Intrust Bank NA Raises Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Intrust Bank NA raised its stake in Laboratory Co. of America Holdings (NYSE:LH) by 4.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,177 shares of the medical research company’s stock after acquiring an additional 144 shares during the quarter. Intrust Bank NA’s holdings in Laboratory Co. of America were worth $729,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Capital City Trust Co. FL grew its position in Laboratory Co. of America by 1.5% during the fourth quarter. Capital City Trust Co. FL now owns 15,553 shares of the medical research company’s stock valued at $3,567,000 after buying an additional 223 shares during the period. Wealthcare Advisory Partners LLC increased its stake in shares of Laboratory Co. of America by 23.9% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 2,543 shares of the medical research company’s stock valued at $583,000 after purchasing an additional 490 shares in the last quarter. Bryn Mawr Capital Management LLC raised its holdings in Laboratory Co. of America by 51.2% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 1,495 shares of the medical research company’s stock worth $343,000 after purchasing an additional 506 shares during the period. Barclays PLC boosted its position in Laboratory Co. of America by 11.8% during the third quarter. Barclays PLC now owns 620,721 shares of the medical research company’s stock worth $138,718,000 after purchasing an additional 65,356 shares in the last quarter. Finally, Nordea Investment Management AB grew its holdings in Laboratory Co. of America by 7.0% in the fourth quarter. Nordea Investment Management AB now owns 1,052,927 shares of the medical research company’s stock valued at $243,321,000 after purchasing an additional 68,974 shares during the period. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Trading Down 0.8 %

Shares of LH stock opened at $229.75 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $258.59. The company’s 50-day moving average price is $244.80 and its 200-day moving average price is $234.58. The stock has a market cap of $19.23 billion, a price-to-earnings ratio of 26.05, a PEG ratio of 1.71 and a beta of 1.12.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings results 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 net margin of 5.73% and a return on equity of 15.29%. As a group, equities analysts predict 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 was paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th were given a $0.72 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a yield of 1.25%. Laboratory Co. of America’s dividend payout ratio is currently 32.65%.

Insider Buying and Selling at Laboratory Co. of America

In other news, Director Kerrii B. Anderson sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $255.63, for a total value of $127,815.00. Following the completion of the transaction, the director now owns 13,166 shares of the company’s stock, valued at approximately $3,365,624.58. This trade represents a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Der Vaart Sandra D. Van sold 1,314 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $251.30, for a total value of $330,208.20. Following the sale, the executive vice president now directly owns 2,171 shares in the company, valued at $545,572.30. This represents a 37.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,500 shares of company stock valued at $3,577,572 over the last 90 days. 0.85% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Citigroup upgraded Laboratory Co. of America from a “neutral” rating to a “buy” rating and increased their target price for the company from $250.00 to $300.00 in a research report on Tuesday, March 4th. Jefferies Financial Group lifted their target price on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Bank of America upped 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 report on Friday, December 13th. StockNews.com cut Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Barclays decreased 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 report on Friday, February 7th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $269.92.

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.