HighTower Advisors LLC Reduces Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

HighTower Advisors LLC lessened its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 42.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,937 shares of the medical research company’s stock after selling 11,039 shares during the quarter. HighTower Advisors LLC’s holdings in Laboratory Co. of America were worth $3,425,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Private Trust Co. NA grew its stake in Laboratory Co. of America by 3.2% during the 3rd 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 during the last quarter. Empowered Funds LLC grew its stake in Laboratory Co. of America by 0.5% during the 4th quarter. Empowered Funds LLC now owns 8,025 shares of the medical research company’s stock valued at $1,840,000 after purchasing an additional 43 shares during the last quarter. SP Asset Management LLC grew its stake in Laboratory Co. of America by 0.3% during the 4th quarter. SP Asset Management LLC now owns 15,186 shares of the medical research company’s stock valued at $3,483,000 after purchasing an additional 43 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Laboratory Co. of America by 0.4% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 12,780 shares of the medical research company’s stock worth $2,931,000 after buying an additional 45 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in shares of Laboratory Co. of America by 0.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,194 shares of the medical research company’s stock worth $1,650,000 after buying an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Price Performance

Shares of Laboratory Co. of America stock opened at $235.60 on Friday. The business has a 50 day simple moving average of $245.13 and a two-hundred day simple moving average of $234.25. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $258.59. The stock has a market capitalization of $19.72 billion, a P/E ratio of 26.71, a PEG ratio of 1.71 and a beta of 1.12. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30.

Laboratory Co. of America (NYSE:LH) last announced its earnings results on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, beating 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%. As a group, analysts predict that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Thursday, February 27th were issued a $0.72 dividend. The ex-dividend date was Thursday, February 27th. This represents a $2.88 annualized dividend and a dividend yield of 1.22%. Laboratory Co. of America’s dividend payout ratio is presently 32.65%.

Analysts Set New Price Targets

A number of analysts have recently commented on LH shares. UBS Group lowered their target price on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Piper Sandler upped their target price on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Citigroup upgraded Laboratory Co. of America from a “neutral” rating to a “buy” rating and upped their target price for the stock from $250.00 to $300.00 in a research note on Tuesday, March 4th. Jefferies Financial Group upped their target price on Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Finally, Barclays lowered 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 note on Friday, February 7th. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Laboratory Co. of America has a consensus rating of “Moderate Buy” and an average price target of $268.38.

Insider Activity at Laboratory Co. of America

In related news, COO Mark S. Schroeder sold 5,339 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $249.23, for a total value of $1,330,638.97. Following the completion of the sale, the chief operating officer now owns 4,960 shares of the company’s stock, valued at approximately $1,236,180.80. This trade represents a 51.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kerrii B. Anderson sold 1,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $235.00, for a total value of $235,000.00. Following the sale, the director now directly owns 12,722 shares of the company’s stock, valued at approximately $2,989,670. This trade represents a 7.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,500 shares of company stock valued at $3,577,572. 0.85% of the stock is currently owned by insiders.

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.