Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Kennebec Savings Bank

Kennebec Savings Bank cut its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 22.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 146 shares of the medical research company’s stock after selling 42 shares during the quarter. Kennebec Savings Bank’s holdings in Laboratory Co. of America were worth $34,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in LH. SouthState Corp acquired a new stake in Laboratory Co. of America in the third quarter valued at $28,000. Horizon Bancorp Inc. IN acquired a new stake in shares of Laboratory Co. of America in the 3rd quarter valued at about $29,000. Fortitude Family Office LLC lifted its position in shares of Laboratory Co. of America by 312.5% during the fourth quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock worth $30,000 after purchasing an additional 100 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in Laboratory Co. of America by 309.8% in the fourth quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock valued at $39,000 after buying an additional 127 shares during the last quarter. Finally, Riverview Trust Co raised 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 valued at $38,000 after buying an additional 107 shares in the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.

Laboratory Co. of America Trading Up 2.1 %

Laboratory Co. of America stock opened at $251.39 on Friday. 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 debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.44. The firm has a market capitalization of $21.03 billion, a price-to-earnings ratio of 48.62, a P/E/G ratio of 1.83 and a beta of 1.06. The company has a 50 day moving average price of $235.60 and a 200 day moving average price of $228.09.

Laboratory Co. of America Announces Dividend

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 paid a $0.72 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $2.88 annualized dividend and a yield of 1.15%. Laboratory Co. of America’s dividend payout ratio is presently 55.71%.

Insider Buying and Selling at Laboratory Co. of America

In other news, Director Kerrii B. Anderson sold 1,000 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $235.00, for a total transaction of $235,000.00. Following the transaction, the director now owns 12,722 shares of the company’s stock, valued at approximately $2,989,670. This represents a 7.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Adam H. Schechter sold 6,189 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $243.47, for a total value of $1,506,835.83. Following the sale, the chief executive officer now directly owns 87,441 shares of the company’s stock, valued at $21,289,260.27. The trade was a 6.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,572 shares of company stock valued at $5,915,209 in the last quarter. Company insiders own 0.85% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Piper Sandler upped their price target on Laboratory Co. of America from $235.00 to $240.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Jefferies Financial Group reissued a “buy” rating and set a $275.00 target price (up from $265.00) on shares of Laboratory Co. of America in a report on Tuesday, December 10th. Barclays lifted their price target on shares of Laboratory Co. of America from $234.00 to $249.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. HSBC upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley upped their target price on Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $261.77.

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.