ING Groep NV Cuts Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

ING Groep NV cut its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 4.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,682 shares of the medical research company’s stock after selling 547 shares during the quarter. ING Groep NV’s holdings in Laboratory Co. of America were worth $2,450,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in LH. OneDigital Investment Advisors LLC increased its holdings in Laboratory Co. of America by 115.7% during the third quarter. OneDigital Investment Advisors LLC now owns 6,088 shares of the medical research company’s stock worth $1,361,000 after buying an additional 3,265 shares during the last quarter. Alexander Randolph Advisory Inc. bought a new position in shares of Laboratory Co. of America during the 3rd quarter valued at approximately $955,000. Wealthcare Advisory Partners LLC increased its stake in shares of Laboratory Co. of America by 23.9% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 2,543 shares of the medical research company’s stock worth $583,000 after purchasing an additional 490 shares during the last quarter. Mutual of America Capital Management LLC bought a new stake in shares of Laboratory Co. of America in the 3rd quarter worth approximately $2,316,000. Finally, Bryn Mawr Capital Management LLC lifted its stake in Laboratory Co. of America by 51.2% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 1,495 shares of the medical research company’s stock valued at $343,000 after purchasing an additional 506 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors.

Laboratory Co. of America Price Performance

Laboratory Co. of America stock opened at $249.86 on Friday. The stock has a market cap of $20.90 billion, a price-to-earnings ratio of 28.33, a PEG ratio of 1.71 and a beta of 1.07. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67. The business has a 50-day simple moving average of $238.93 and a 200 day simple moving average of $231.69. Laboratory Co. of America Holdings has a 52 week low of $191.97 and a 52 week high of $258.59.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, topping 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%. On average, research analysts forecast 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio is currently 32.65%.

Insider Buying and Selling

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 shares were sold at an average price of $240.43, for a total value of $2,815,675.73. Following the completion of the sale, the executive vice president now directly owns 31,289 shares in the company, valued at approximately $7,522,814.27. The trade was a 27.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kerrii B. Anderson sold 1,000 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total transaction of $235,000.00. Following the completion of the sale, the director now directly owns 12,722 shares of the company’s stock, valued at $2,989,670. This trade represents a 7.29 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,832 shares of company stock worth $4,788,995. Corporate insiders own 0.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. UBS Group lowered their target price on 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. Hsbc Global Res raised shares of Laboratory Co. of America from a “hold” rating to a “strong-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 lifted their target price for the stock from $260.00 to $265.00 in a research note on Tuesday, January 7th. Jefferies Financial Group upped their price target on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Finally, Bank of America lifted their price objective on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $265.31.

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.