Leeward Investments LLC MA Reduces Position in Laboratory Co. of America Holdings (NYSE:LH)

Leeward Investments LLC MA lessened its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 3.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,640 shares of the medical research company’s stock after selling 1,951 shares during the period. Leeward Investments LLC MA owned 0.07% of Laboratory Co. of America worth $12,989,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. SouthState Corp purchased a new stake in Laboratory Co. of America during the 3rd quarter valued at about $28,000. Horizon Bancorp Inc. IN purchased a new stake in shares of Laboratory Co. of America in the 3rd quarter valued at approximately $29,000. Fortitude Family Office LLC grew its stake in shares of Laboratory Co. of America by 312.5% in the 4th quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock valued at $30,000 after buying an additional 100 shares during the period. Geneos Wealth Management Inc. grew its stake in shares of Laboratory Co. of America by 309.8% in the 4th quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock valued at $39,000 after buying an additional 127 shares during the period. Finally, Human Investing LLC purchased a new stake in shares of Laboratory Co. of America in the 4th quarter valued at approximately $39,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Insider Activity

In related news, 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 transaction of $2,815,675.73. Following the sale, the executive vice president now directly owns 31,289 shares in the company, valued at $7,522,814.27. This trade represents a 27.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dwight Gary Gilliland sold 1,000 shares of Laboratory Co. of America stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $241.00, for a total transaction of $241,000.00. Following the sale, the director now owns 7,712 shares in the company, valued at $1,858,592. This represents a 11.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,832 shares of company stock worth $4,788,995. 0.85% of the stock is currently owned by corporate insiders.

Laboratory Co. of America Price Performance

Laboratory Co. of America stock opened at $249.86 on Friday. The firm has a market cap of $20.90 billion, a PE ratio of 28.33, a price-to-earnings-growth ratio of 1.71 and a beta of 1.07. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $258.59. 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 company’s 50 day moving average is $238.93 and its two-hundred day moving average is $231.74.

Laboratory Co. of America (NYSE:LH) last released its 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 net margin of 5.73% and a return on equity of 15.29%. On average, research analysts expect that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The company 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 $0.72 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.15%. Laboratory Co. of America’s payout ratio is 32.65%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Hsbc Global Res raised shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Morgan Stanley increased their price objective on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Piper Sandler increased their price objective on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. UBS Group lowered their price objective on shares of 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. Finally, Bank of America increased their price objective 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. Three 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $265.31.

Laboratory Co. of America Company Profile

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.