Wilmington Savings Fund Society FSB Sells 251 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Wilmington Savings Fund Society FSB reduced its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 1.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,596 shares of the medical research company’s stock after selling 251 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Laboratory Co. of America were worth $5,870,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LH. Private Trust Co. NA raised its stake in Laboratory Co. of America by 3.2% in the third quarter. Private Trust Co. NA now owns 1,342 shares of the medical research company’s stock valued at $300,000 after purchasing an additional 41 shares in the last quarter. Empirical Finance LLC increased its holdings in shares of Laboratory Co. of America by 1.7% in the 3rd quarter. Empirical Finance LLC now owns 3,055 shares of the medical research company’s stock worth $683,000 after buying an additional 50 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Laboratory Co. of America by 16.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 354 shares of the medical research company’s stock worth $81,000 after buying an additional 50 shares during the last quarter. Concord Wealth Partners raised its position in shares of Laboratory Co. of America by 43.3% during the 3rd quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock valued at $38,000 after buying an additional 52 shares in the last quarter. Finally, Rehmann Capital Advisory Group lifted its holdings in shares of Laboratory Co. of America by 1.9% during the 3rd quarter. Rehmann Capital Advisory Group now owns 2,844 shares of the medical research company’s stock worth $637,000 after acquiring an additional 53 shares during the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Morgan Stanley increased their target price on Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. UBS Group decreased their price objective on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Piper Sandler boosted their target price on Laboratory Co. of America from $235.00 to $240.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. StockNews.com upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Evercore ISI upgraded shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $260.00 to $265.00 in a report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $263.77.

Insiders Place Their Bets

In related news, EVP Der Vaart Sandra D. Van sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $239.42, for a total value of $239,420.00. Following the sale, the executive vice president now owns 2,670 shares in the company, valued at $639,251.40. This represents a 27.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Glenn A. Eisenberg sold 11,711 shares of Laboratory Co. of America stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $240.43, for a total value of $2,815,675.73. Following the transaction, the executive vice president now owns 31,289 shares of the company’s stock, valued at $7,522,814.27. The trade was a 27.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,572 shares of company stock worth $5,915,209. 0.85% of the stock is owned by corporate insiders.

Laboratory Co. of America Stock Performance

Laboratory Co. of America stock opened at $246.18 on Friday. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $258.59. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67. The firm has a 50-day moving average of $236.67 and a 200-day moving average of $229.69. The firm has a market cap of $20.59 billion, a P/E ratio of 27.91, a P/E/G ratio of 1.84 and a beta of 1.07.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) 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%. Sell-side analysts expect that Laboratory Co. of America Holdings will post 15.96 EPS for the current year.

Laboratory Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be paid a $0.72 dividend. The ex-dividend date is Thursday, February 27th. This represents a $2.88 annualized dividend and a yield of 1.17%. Laboratory Co. of America’s payout ratio is 32.65%.

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.