Stonebridge Capital Management Inc. Has $865,000 Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Stonebridge Capital Management Inc. trimmed its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 2.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,770 shares of the medical research company’s stock after selling 100 shares during the period. Stonebridge Capital Management Inc.’s holdings in Laboratory Co. of America were worth $865,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LH. SouthState Corp acquired a new stake in shares of Laboratory Co. of America during the third quarter worth $28,000. Horizon Bancorp Inc. IN bought a new stake in shares of Laboratory Co. of America in the 3rd quarter valued at about $29,000. Fortitude Family Office LLC raised its position in shares of Laboratory Co. of America by 312.5% in the 4th quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 100 shares during the period. Riverview Trust Co boosted its stake in 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 acquiring an additional 107 shares during the last quarter. Finally, Concord Wealth Partners increased its stake in Laboratory Co. of America by 43.3% in the third quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock valued at $38,000 after purchasing an additional 52 shares in the last quarter. 95.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. HSBC raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Evercore ISI upgraded 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. Jefferies Financial Group restated 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 increased their price objective on shares of Laboratory Co. of America from $234.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Finally, Piper Sandler boosted their price objective on shares of 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. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $260.54.

Insider Buying and Selling

In related news, Director Kerrii B. Anderson sold 1,000 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $230.00, for a total value of $230,000.00. Following the sale, the director now owns 13,722 shares in the company, valued at approximately $3,156,060. This trade represents a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Glenn A. Eisenberg sold 11,711 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $240.43, for a total value of $2,815,675.73. Following the transaction, the executive vice president now owns 31,289 shares of the company’s stock, valued at approximately $7,522,814.27. The trade was a 27.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,572 shares of company stock valued at $6,145,209. 0.85% of the stock is owned by company insiders.

Laboratory Co. of America Stock Performance

LH stock opened at $237.20 on Thursday. The firm has a market cap of $19.84 billion, a PE ratio of 45.88, a price-to-earnings-growth ratio of 1.73 and a beta of 1.06. The stock has a 50-day moving average price of $234.84 and a 200-day moving average price of $225.18. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $247.99.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $3.48 by $0.02. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same period in the prior year, the business earned $3.38 EPS. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, equities research analysts expect that Laboratory Co. of America Holdings will post 14.51 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors 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 yield of 1.21%. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 55.71%.

Laboratory Co. of America Profile

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