Galvin Gaustad & Stein LLC Sells 1,098 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Galvin Gaustad & Stein LLC reduced its stake in Laboratory Co. of America Holdings (NYSE:LH) by 1.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 87,412 shares of the medical research company’s stock after selling 1,098 shares during the quarter. Laboratory Co. of America comprises approximately 1.8% of Galvin Gaustad & Stein LLC’s holdings, making the stock its 20th biggest position. Galvin Gaustad & Stein LLC’s holdings in Laboratory Co. of America were worth $20,045,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. SouthState Corp purchased a new position in shares of Laboratory Co. of America in the 3rd quarter worth $28,000. Horizon Bancorp Inc. IN purchased a new position in shares of Laboratory Co. of America in the 3rd quarter worth $29,000. Fortitude Family Office LLC boosted its stake in shares of Laboratory Co. of America by 312.5% during the 4th 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 period. Riverview Trust Co boosted its stake in shares of Laboratory Co. of America by 172.6% during the 3rd quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock worth $38,000 after purchasing an additional 107 shares during the period. Finally, Concord Wealth Partners boosted its stake in shares of Laboratory Co. of America by 43.3% during the 3rd quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock worth $38,000 after purchasing an additional 52 shares during the period. 95.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on LH. Barclays lifted their price target on shares of Laboratory Co. of America from $234.00 to $249.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Robert W. Baird lifted their price target on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Jefferies Financial Group reaffirmed a “buy” rating and set a $275.00 price target (up from $265.00) on shares of Laboratory Co. of America in a research note on Tuesday, December 10th. StockNews.com cut shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Finally, Evercore ISI raised 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. 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 data from MarketBeat.com, Laboratory Co. of America currently has an average rating of “Moderate Buy” and a consensus target price of $260.54.

Insider Buying and Selling

In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $239.42, for a total transaction of $239,420.00. Following the sale, the executive vice president now owns 2,670 shares of the company’s stock, valued at approximately $639,251.40. The trade was a 27.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Adam H. Schechter sold 6,189 shares of the business’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 transaction of $1,506,835.83. Following the sale, the chief executive officer now directly owns 87,441 shares in the company, valued at approximately $21,289,260.27. This represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,572 shares of company stock worth $5,915,209 in the last 90 days. 0.85% of the stock is owned by corporate insiders.

Laboratory Co. of America Trading Up 0.0 %

NYSE:LH opened at $242.56 on Thursday. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year high of $247.99. 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 cap of $20.29 billion, a P/E ratio of 46.91, a P/E/G ratio of 1.82 and a beta of 1.06. The firm has a 50-day simple moving average of $234.62 and a 200-day simple moving average of $226.55.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings results on Thursday, October 24th. The medical research company reported $3.50 EPS for the quarter, beating the consensus estimate of $3.48 by $0.02. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.26 billion. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.38 EPS. Equities 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 company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.19%. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 55.71%.

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.