Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 3.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,119 shares of the medical research company’s stock after selling 570 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Laboratory Co. of America were worth $3,926,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of 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 lifted its position in shares of Laboratory Co. of America by 0.5% in the 4th 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 last quarter. SP Asset Management LLC boosted its holdings in shares of Laboratory Co. of America by 0.3% in the 4th quarter. SP Asset Management LLC now owns 15,186 shares of the medical research company’s stock valued at $3,483,000 after buying an additional 43 shares during the period. Oppenheimer Asset Management Inc. grew its position in shares of Laboratory Co. of America by 0.4% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 12,780 shares of the medical research company’s stock valued at $2,931,000 after buying an additional 45 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its stake in Laboratory Co. of America by 0.6% during 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 acquiring an additional 46 shares during the period. Institutional investors own 95.94% of the company’s stock.

Wall Street Analysts Forecast Growth

LH has been the subject of several recent research reports. Evercore ISI raised Laboratory Co. of America from an “in-line” rating to an “outperform” rating and upped their target price for the company from $260.00 to $265.00 in a report on Tuesday, January 7th. Morgan Stanley increased their target price on Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Piper Sandler upped their price target on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Citigroup upgraded shares of Laboratory Co. of America from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $250.00 to $300.00 in a research report on Tuesday, March 4th. Finally, Jefferies Financial Group upped their target price on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Laboratory Co. of America has an average rating of “Moderate Buy” and a consensus target price of $268.38.

Laboratory Co. of America Trading Up 1.8 %

Shares of Laboratory Co. of America stock opened at $239.80 on Friday. The business has a fifty day simple moving average of $244.69 and a 200-day simple moving average of $234.04. The firm has a market cap of $20.07 billion, a price-to-earnings ratio of 27.19, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two 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 EPS for the quarter, topping analysts’ consensus estimates 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%. On average, equities analysts forecast that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

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

Insider Activity

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,121 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $244.62, for a total transaction of $1,497,319.02. Following the sale, the chief executive officer now directly 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 Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kerrii B. Anderson sold 1,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $235.00, for a total value 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 approximately $2,989,670. This trade represents a 7.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,500 shares of company stock valued at $3,577,572 over the last three months. Insiders own 0.85% of the company’s stock.

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.