Kennebec Savings Bank Sells 42 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Kennebec Savings Bank lessened its stake in Laboratory Co. of America Holdings (NYSE:LH) by 22.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 146 shares of the medical research company’s stock after selling 42 shares during the quarter. Kennebec Savings Bank’s holdings in Laboratory Co. of America were worth $34,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. SouthState Corp acquired a new stake in shares of Laboratory Co. of America in the 3rd quarter valued at approximately $28,000. Horizon Bancorp Inc. IN bought a new stake in Laboratory Co. of America in the third quarter valued at approximately $29,000. Fortitude Family Office LLC boosted its position in shares of Laboratory Co. of America by 312.5% during 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 in the last quarter. Riverview Trust Co grew its holdings in shares of Laboratory Co. of America by 172.6% in the 3rd 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 during the period. Finally, Concord Wealth Partners increased its position 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 valued at $38,000 after buying an additional 52 shares in the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Insiders Place Their Bets

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,189 shares of Laboratory Co. of America stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $243.47, for a total value of $1,506,835.83. Following the transaction, the chief executive officer now owns 87,441 shares in the company, valued at $21,289,260.27. The trade was a 6.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Der Vaart Sandra D. Van sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $239.42, for a total transaction of $239,420.00. Following the completion of the sale, the executive vice president now owns 2,670 shares in the company, valued at approximately $639,251.40. The trade was 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 24,572 shares of company stock worth $5,915,209 in the last 90 days. Company insiders own 0.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. UBS Group decreased their price objective on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating for the company in a research report on Tuesday. Evercore ISI raised shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $260.00 to $265.00 in a research report on Tuesday, January 7th. Morgan Stanley boosted their price objective on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Jefferies Financial Group reissued a “buy” rating and issued a $275.00 price target (up previously from $265.00) on shares of Laboratory Co. of America in a research note on Tuesday, December 10th. Finally, Piper Sandler upped their price objective on Laboratory Co. of America from $235.00 to $240.00 and gave the stock a “neutral” rating in a research report 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $261.77.

Laboratory Co. of America Stock Up 2.1 %

LH stock opened at $251.39 on Friday. 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 debt-to-equity ratio of 0.66, a current ratio of 1.44 and a quick ratio of 1.30. The business’s fifty day moving average price is $235.60 and its two-hundred day moving average price is $228.09. The stock has a market capitalization of $21.03 billion, a price-to-earnings ratio of 48.62, a PEG ratio of 1.83 and a beta of 1.06.

Laboratory Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio (DPR) is currently 55.71%.

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.