SG Americas Securities LLC Sells 88,021 Shares of Laboratory Co. of America Holdings (NYSE:LH)

SG Americas Securities LLC lessened its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 98.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 967 shares of the medical research company’s stock after selling 88,021 shares during the period. SG Americas Securities LLC’s holdings in Laboratory Co. of America were worth $222,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in LH. SouthState Corp bought a new position in Laboratory Co. of America during the third quarter valued at $28,000. Horizon Bancorp Inc. IN bought a new position in shares of Laboratory Co. of America in the 3rd quarter valued at about $29,000. Fortitude Family Office LLC grew its position in Laboratory Co. of America by 312.5% in the fourth quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock worth $30,000 after acquiring an additional 100 shares in the last quarter. Riverview Trust Co increased its stake in 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 during the last quarter. Finally, Concord Wealth Partners increased its stake in Laboratory Co. of America by 43.3% during the third 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.

Insiders Place Their Bets

In related news, Director Kerrii B. Anderson sold 1,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly 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 transaction was disclosed in a legal 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 dated 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 24,572 shares of company stock worth $5,915,209. Corporate insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Down 0.6 %

NYSE:LH opened at $246.18 on Friday. The firm has a market cap of $20.59 billion, a PE ratio of 47.62, a price-to-earnings-growth ratio of 1.86 and a beta of 1.07. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.44 and a quick ratio of 1.30. 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 50-day moving average of $236.56 and a 200 day moving average of $229.47.

Laboratory Co. of America (NYSE:LH) last issued 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 15.27% and a net margin of 3.43%. As a group, research analysts anticipate that Laboratory Co. of America Holdings will post 14.51 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders 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 1.17%. The ex-dividend date is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio is presently 55.71%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on LH shares. HSBC upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. 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 company from $260.00 to $265.00 in a research report on Tuesday, January 7th. Piper Sandler raised their target price on shares of Laboratory Co. of America from $235.00 to $240.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. StockNews.com upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Friday. Finally, 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. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $263.77.

Laboratory Co. of America Profile

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