Fulton Bank N.A. Has $296,000 Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

Fulton Bank N.A. decreased its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 10.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,290 shares of the medical research company’s stock after selling 150 shares during the period. Fulton Bank N.A.’s holdings in Laboratory Co. of America were worth $296,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Private Trust Co. NA lifted its position in shares of 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 worth $300,000 after buying an additional 41 shares during the last quarter. Empirical Finance LLC lifted its position in shares of Laboratory Co. of America by 1.7% in the third 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. Concord Wealth Partners lifted its position in shares of Laboratory Co. of America by 43.3% in the third quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock worth $38,000 after buying an additional 52 shares during the last quarter. Rehmann Capital Advisory Group lifted its position in shares of Laboratory Co. of America by 1.9% in the third quarter. Rehmann Capital Advisory Group now owns 2,844 shares of the medical research company’s stock worth $637,000 after buying an additional 53 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its position in shares of Laboratory Co. of America by 2.1% in the third quarter. First Horizon Advisors Inc. now owns 2,773 shares of the medical research company’s stock worth $620,000 after buying an additional 58 shares during the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on LH. Bank of America boosted their price target on 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. Jefferies Financial Group reissued a “buy” rating and set a $275.00 price objective (up previously from $265.00) on shares of Laboratory Co. of America in a research report on Tuesday, December 10th. Barclays boosted their price objective on Laboratory Co. of America from $234.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Piper Sandler boosted their price objective 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. Finally, Robert W. Baird boosted their price objective on Laboratory Co. of America from $282.00 to $289.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Laboratory Co. of America currently has an average rating of “Moderate Buy” and a consensus price target of $260.54.

Laboratory Co. of America Trading Down 0.9 %

Shares of LH opened at $232.12 on Friday. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $247.99. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $19.41 billion, a price-to-earnings ratio of 44.90, a P/E/G ratio of 1.91 and a beta of 1.06. The stock’s 50-day moving average price is $234.59 and its 200 day moving average price is $224.49.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings data on Thursday, October 24th. The medical research company reported $3.50 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same period in the prior year, the company posted $3.38 EPS. The company’s revenue was up 7.4% compared to the same quarter last year. As a group, research analysts predict that Laboratory Co. of America Holdings will post 14.52 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.24%. Laboratory Co. of America’s dividend payout ratio is currently 55.71%.

Insider Activity

In other news, EVP Glenn A. Eisenberg sold 11,711 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was 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 directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kerrii B. Anderson sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $230.00, for a total value of $230,000.00. Following the completion of the transaction, the director now directly owns 13,722 shares in the company, valued at $3,156,060. The trade was a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,572 shares of company stock worth $6,145,209. Company insiders own 0.85% of the company’s stock.

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.