Martin & Co. Inc. TN Sells 838 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Martin & Co. Inc. TN cut its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 4.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 19,847 shares of the medical research company’s stock after selling 838 shares during the period. Laboratory Co. of America accounts for approximately 1.1% of Martin & Co. Inc. TN’s portfolio, making the stock its 27th largest position. Martin & Co. Inc. TN’s holdings in Laboratory Co. of America were worth $4,551,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of LH. AMF Tjanstepension AB raised its stake in shares of Laboratory Co. of America by 37.0% during the third quarter. AMF Tjanstepension AB now owns 86,026 shares of the medical research company’s stock valued at $19,232,000 after acquiring an additional 23,221 shares in the last quarter. Exchange Traded Concepts LLC raised its position in shares of Laboratory Co. of America by 1,962.5% in the third quarter. Exchange Traded Concepts LLC now owns 990 shares of the medical research company’s stock worth $221,000 after acquiring an additional 942 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Laboratory Co. of America by 22.3% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 9,538 shares of the medical research company’s stock worth $2,132,000 after purchasing an additional 1,738 shares during the last quarter. Raymond James & Associates grew its stake in Laboratory Co. of America by 4.9% during the 3rd quarter. Raymond James & Associates now owns 124,336 shares of the medical research company’s stock valued at $27,787,000 after acquiring an additional 5,786 shares in the last quarter. Finally, OLD National Bancorp IN grew its stake in Laboratory Co. of America by 24.7% during the 3rd quarter. OLD National Bancorp IN now owns 1,878 shares of the medical research company’s stock valued at $420,000 after acquiring an additional 372 shares in the last quarter. 95.94% of the stock is owned by institutional investors.

Insider Activity at Laboratory Co. of America

In other news, CEO Adam H. Schechter sold 6,121 shares of Laboratory Co. of America 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 owns 86,445 shares of the company’s stock, valued at $21,146,175.90. The trade was a 6.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Der Vaart Sandra D. Van sold 1,000 shares of Laboratory Co. of America stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $239.42, for a total transaction of $239,420.00. Following the completion of the transaction, the executive vice president now directly owns 2,670 shares in the company, valued at approximately $639,251.40. This trade represents a 27.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,504 shares of company stock worth $5,905,692 in the last ninety days. 0.85% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on LH. Robert W. Baird increased their price objective on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Jefferies Financial Group lifted their price target on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. StockNews.com raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Barclays reduced their price objective 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 note on Friday, February 7th. Finally, Bank of America lifted their target price on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Three research analysts have rated the stock with a hold rating, thirteen 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 $265.31.

Laboratory Co. of America Price Performance

Shares of LH stock opened at $246.74 on Monday. The firm has a market cap of $20.64 billion, a P/E ratio of 27.98, a P/E/G ratio of 1.84 and a beta of 1.07. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $258.59. The firm has a fifty day moving average of $237.42 and a two-hundred day moving average of $231.14.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, beating the consensus estimate of $3.40 by $0.05. Laboratory Co. of America had a net margin of 5.73% and a return on equity of 15.29%. As a group, research analysts anticipate that Laboratory Co. of America Holdings will post 15.96 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

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 given 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 1.17%. Laboratory Co. of America’s dividend payout ratio is presently 32.65%.

About Laboratory Co. of America

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.