Trust Co. of Vermont Cuts Stake in Laboratory Co. of America Holdings (NYSE:LH)

Trust Co. of Vermont lowered its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 3.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,465 shares of the medical research company’s stock after selling 86 shares during the period. Trust Co. of Vermont’s holdings in Laboratory Co. of America were worth $565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of LH. SouthState Corp purchased a new position in Laboratory Co. of America during the 3rd quarter valued at approximately $28,000. Horizon Bancorp Inc. IN purchased a new position in shares of Laboratory Co. of America in the third quarter valued at $29,000. Fortitude Family Office LLC increased its position in Laboratory Co. of America by 312.5% in the fourth 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 last quarter. Riverview Trust Co lifted its position in Laboratory Co. of America by 172.6% during the third quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock valued at $38,000 after purchasing an additional 107 shares during the last quarter. Finally, Concord Wealth Partners grew its stake in shares of Laboratory Co. of America by 43.3% in the 3rd quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock worth $38,000 after buying an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Insider Transactions at Laboratory Co. of America

In other news, Director Kerrii B. Anderson sold 1,000 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 12,722 shares in the company, valued at approximately $2,989,670. This trade represents a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Glenn A. Eisenberg sold 11,711 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $240.43, for a total transaction of $2,815,675.73. Following the completion of the transaction, the executive vice president now directly owns 31,289 shares of the company’s stock, valued at $7,522,814.27. This trade represents a 27.23 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,572 shares of company stock valued at $6,145,209. 0.85% of the stock is currently owned by corporate insiders.

Laboratory Co. of America Trading Down 0.1 %

NYSE LH opened at $238.44 on Friday. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $247.99. The company’s 50-day moving average price is $234.80 and its 200-day moving average price is $225.76. The stock has a market cap of $19.94 billion, a PE ratio of 46.12, a PEG ratio of 1.73 and a beta of 1.06. 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 (NYSE:LH) last issued its earnings results on Thursday, October 24th. The medical research company reported $3.50 EPS for the quarter, topping analysts’ consensus estimates of $3.48 by $0.02. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. 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 firm earned $3.38 EPS. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. Equities research analysts forecast that Laboratory Co. of America Holdings will post 14.51 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.21%. Laboratory Co. of America’s dividend payout ratio is 55.71%.

Analysts Set New Price Targets

Several analysts have recently issued reports on LH shares. Barclays upped their target price on shares of Laboratory Co. of America from $234.00 to $249.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Evercore ISI upgraded Laboratory Co. of America from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $260.00 to $265.00 in a research report on Tuesday, January 7th. Hsbc Global Res upgraded Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. StockNews.com lowered Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Finally, HSBC upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $260.54.

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.