Laboratory Co. of America Holdings (NYSE:LH) Stake Cut by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 46.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 402,958 shares of the medical research company’s stock after selling 346,310 shares during the quarter. Thrivent Financial for Lutherans owned 0.48% of Laboratory Co. of America worth $92,406,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Private Trust Co. NA lifted its stake in Laboratory Co. of America by 3.2% during the third quarter. Private Trust Co. NA now owns 1,342 shares of the medical research company’s stock worth $300,000 after purchasing an additional 41 shares during the last quarter. Empowered Funds LLC increased its position in Laboratory Co. of America by 0.5% in the fourth quarter. Empowered Funds LLC now owns 8,025 shares of the medical research company’s stock worth $1,840,000 after buying an additional 43 shares during the period. SP Asset Management LLC increased its position in Laboratory Co. of America by 0.3% in the fourth quarter. SP Asset Management LLC now owns 15,186 shares of the medical research company’s stock worth $3,483,000 after buying an additional 43 shares during the period. Oppenheimer Asset Management Inc. increased its position in 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 period. Finally, Oregon Public Employees Retirement Fund increased its position in 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 period. 95.94% of the stock is currently owned by institutional investors.

Insider Activity at Laboratory Co. of America

In related news, Director Kerrii B. Anderson sold 500 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $255.63, for a total value of $127,815.00. Following the completion of the transaction, the director now owns 13,166 shares in the company, valued at $3,365,624.58. This trade represents a 3.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Adam H. Schechter sold 6,121 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now owns 86,445 shares of the company’s stock, valued at $21,146,175.90. This trade represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,500 shares of company stock worth $3,577,572 in the last quarter. 0.85% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on LH shares. Barclays dropped 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 report on Friday, February 7th. Jefferies Financial Group raised their price target on Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Piper Sandler raised their price target on Laboratory Co. of America from $240.00 to $260.00 and gave the company a “neutral” rating in a report on Monday, February 10th. UBS Group lowered their price target on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Finally, Bank of America raised their price target on Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Laboratory Co. of America currently has an average rating of “Moderate Buy” and an average price target of $268.38.

Laboratory Co. of America Price Performance

NYSE:LH opened at $239.63 on Wednesday. The business’s 50-day moving average price is $244.99 and its 200 day moving average price is $234.21. The firm has a market cap of $20.06 billion, a P/E ratio of 27.17, a PEG ratio of 1.71 and a beta of 1.12. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $258.59. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67.

Laboratory Co. of America (NYSE:LH) last released its earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) for the quarter, topping 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, sell-side analysts predict that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Thursday, February 27th were issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend was Thursday, February 27th. Laboratory Co. of America’s payout ratio is currently 32.65%.

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.