Bartlett & CO. Wealth Management LLC Cuts Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Bartlett & CO. Wealth Management LLC decreased its stake in Laboratory Co. of America Holdings (NYSE:LH) by 0.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 211,184 shares of the medical research company’s stock after selling 736 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Laboratory Co. of America were worth $48,429,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. SouthState Corp purchased a new stake in Laboratory Co. of America during the third quarter valued at about $28,000. Horizon Bancorp Inc. IN bought a new position in shares of Laboratory Co. of America during the 3rd quarter valued at about $29,000. Fortitude Family Office LLC grew its position in Laboratory Co. of America by 312.5% during the fourth quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 100 shares during the last quarter. Riverview Trust Co raised its stake in shares of Laboratory Co. of America by 172.6% during the third quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock worth $38,000 after acquiring an additional 107 shares in the last quarter. Finally, Concord Wealth Partners lifted its holdings in shares of Laboratory Co. of America by 43.3% in the 3rd quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock worth $38,000 after acquiring an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Analyst Ratings Changes

LH has been the topic of a number of analyst reports. Jefferies Financial Group reiterated a “buy” rating and issued a $275.00 target price (up previously from $265.00) on shares of Laboratory Co. of America in a research report on Tuesday, December 10th. Morgan Stanley boosted 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. Hsbc Global Res upgraded Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. HSBC raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Finally, StockNews.com cut shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $260.54.

Laboratory Co. of America Stock Down 0.6 %

Shares of NYSE:LH opened at $242.47 on Thursday. The firm has a market capitalization of $20.28 billion, a P/E ratio of 46.90, a P/E/G ratio of 1.82 and a beta of 1.06. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.44. The stock has a 50 day moving average price of $234.69 and a 200-day moving average price of $226.44. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $247.99.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings data on Thursday, October 24th. The medical research company reported $3.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.48 by $0.02. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter in the prior year, the company earned $3.38 earnings per share. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Laboratory Co. of America Holdings will post 14.51 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.19%. Laboratory Co. of America’s dividend payout ratio (DPR) is currently 55.71%.

Insider Buying and Selling

In other news, Director Kerrii B. Anderson sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total value of $235,000.00. Following the transaction, the director now owns 12,722 shares in the company, valued at approximately $2,989,670. This represents a 7.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Glenn A. Eisenberg sold 11,711 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $7,522,814.27. This trade represents a 27.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,572 shares of company stock valued at $5,915,209 over the last quarter. Corporate insiders own 0.85% of the company’s stock.

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.