Laboratory Co. of America Holdings (NYSE:LH) Stock Holdings Cut by Folger Nolan Fleming Douglas Capital Management Inc.

Folger Nolan Fleming Douglas Capital Management Inc. decreased its position in Laboratory Co. of America Holdings (NYSE:LH) by 55.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,090 shares of the medical research company’s stock after selling 2,596 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Laboratory Co. of America were worth $479,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. SouthState Corp bought a new position in shares of Laboratory Co. of America during the 3rd quarter valued at about $28,000. Horizon Bancorp Inc. IN bought a new stake in Laboratory Co. of America during the third quarter worth approximately $29,000. Fortitude Family Office LLC grew 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 buying an additional 100 shares during the last quarter. Riverview Trust Co increased its holdings in shares of Laboratory Co. of America by 172.6% in the third quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock valued at $38,000 after buying an additional 107 shares in the last quarter. Finally, Concord Wealth Partners lifted its position 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 valued at $38,000 after acquiring an additional 52 shares during the last quarter. Institutional investors own 95.94% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LH. Bank of America boosted their target price on 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. Robert W. Baird boosted their price objective on Laboratory Co. of America from $282.00 to $289.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. StockNews.com downgraded shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Evercore ISI upgraded shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and upped their price target for the company from $260.00 to $265.00 in a research report on Tuesday, January 7th. Finally, Piper Sandler boosted their target price on shares of Laboratory Co. of America from $235.00 to $240.00 and gave the company a “neutral” rating in a research note on Monday, October 28th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Laboratory Co. of America currently has a consensus rating of “Moderate Buy” and an average target price of $260.54.

Laboratory Co. of America Stock Down 0.1 %

Shares of LH stock opened at $238.44 on Friday. The company has a market capitalization of $19.94 billion, a price-to-earnings ratio of 46.12, a PEG ratio of 1.73 and a beta of 1.06. 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 stock’s 50 day simple moving average is $234.80 and its 200 day simple moving average is $225.60. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $247.99.

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

Laboratory Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be given 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%.

Insider Activity

In other news, EVP Glenn A. Eisenberg sold 11,711 shares of Laboratory Co. of America 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 sale, the executive vice president now owns 31,289 shares of the company’s stock, valued at approximately $7,522,814.27. This trade represents a 27.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kerrii B. Anderson sold 1,000 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $230.00, for a total value of $230,000.00. Following the completion of the transaction, the director now owns 13,722 shares of the company’s stock, valued at $3,156,060. The trade was a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,572 shares of company stock valued at $6,145,209. 0.85% of the stock is owned by company insiders.

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.