Atria Wealth Solutions Inc. Sells 67 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Atria Wealth Solutions Inc. cut its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 3.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,781 shares of the medical research company’s stock after selling 67 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Laboratory Co. of America were worth $408,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. State Street Corp boosted its position in Laboratory Co. of America by 0.7% during the third quarter. State Street Corp now owns 3,726,627 shares of the medical research company’s stock valued at $832,827,000 after purchasing an additional 25,469 shares in the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of Laboratory Co. of America by 1.5% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,978,686 shares of the medical research company’s stock valued at $442,197,000 after acquiring an additional 29,046 shares during the period. Geode Capital Management LLC raised its stake in shares of Laboratory Co. of America by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,964,743 shares of the medical research company’s stock worth $437,561,000 after purchasing an additional 13,298 shares during the last quarter. JPMorgan Chase & Co. raised its position in Laboratory Co. of America by 9.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company’s stock worth $431,405,000 after buying an additional 167,137 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Laboratory Co. of America by 2.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,916,505 shares of the medical research company’s stock valued at $437,357,000 after acquiring an additional 51,045 shares during the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Insider Activity

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,121 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $244.62, for a total value of $1,497,319.02. Following the transaction, the chief executive officer now directly owns 86,445 shares in the company, valued at $21,146,175.90. This represents a 6.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Amy B. Summy sold 226 shares of Laboratory Co. of America stock in a transaction on Monday, February 24th. The stock was sold at an average price of $250.40, for a total transaction of $56,590.40. Following the sale, the chief marketing officer now owns 4,544 shares in the company, valued at $1,137,817.60. This represents a 4.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,372 shares of company stock worth $5,175,793. Corporate insiders own 0.85% of the company’s stock.

Laboratory Co. of America Price Performance

Shares of LH opened at $247.89 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30. The stock has a market cap of $20.73 billion, a PE ratio of 28.11, a P/E/G ratio of 1.71 and a beta of 1.07. The firm has a 50-day simple moving average of $240.74 and a two-hundred day simple moving average of $232.44. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $258.59.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) for the quarter, beating the consensus estimate 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 forecast that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th will be issued a dividend of $0.72 per share. The ex-dividend date is Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a yield of 1.16%. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 32.65%.

Analyst Ratings Changes

A number of analysts have recently commented on LH shares. Evercore ISI upgraded Laboratory Co. of America from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $260.00 to $265.00 in a research note on Tuesday, January 7th. StockNews.com upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Piper Sandler boosted their price objective 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. Barclays reduced their target price on shares of Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating for the company in a research report on Friday, February 7th. Finally, UBS Group decreased their target price on shares of 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. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Laboratory Co. of America has an average rating of “Moderate Buy” and a consensus price target of $265.75.

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.