Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 30.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,344,378 shares of the medical research company’s stock after selling 586,017 shares during the period. JPMorgan Chase & Co.’s holdings in Laboratory Co. of America were worth $308,293,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Graney & King LLC acquired a new stake in shares of Laboratory Co. of America during the 4th quarter worth approximately $26,000. 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 acquiring an additional 100 shares during the period. Geneos Wealth Management Inc. increased its stake in Laboratory Co. of America by 309.8% during the fourth quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock worth $39,000 after acquiring an additional 127 shares during the last quarter. Human Investing LLC purchased a new stake in Laboratory Co. of America in the fourth quarter valued at $39,000. Finally, True Wealth Design LLC lifted its stake in shares of Laboratory Co. of America by 3,660.0% in the 3rd quarter. True Wealth Design LLC now owns 188 shares of the medical research company’s stock valued at $42,000 after purchasing an additional 183 shares during the last quarter. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Barclays cut their price objective on Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating for the company in a research report on Friday, February 7th. Piper Sandler lifted their price target on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. UBS Group decreased their price objective on shares of Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Bank of America increased their price objective on shares of 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. Finally, Jefferies Financial Group upped their price target on Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $269.92.

Laboratory Co. of America Trading Down 0.8 %

LH opened at $229.75 on Monday. The business has a fifty day moving average price of $244.80 and a 200 day moving average price of $234.69. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $258.59. The stock has a market capitalization of $19.23 billion, a price-to-earnings ratio of 26.05, a PEG ratio of 1.71 and a beta of 1.12.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings data 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 return on equity of 15.29% and a net margin of 5.73%. Sell-side analysts expect that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th were issued a $0.72 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.25%. Laboratory Co. of America’s payout ratio is 32.65%.

Insider Transactions at Laboratory Co. of America

In other Laboratory Co. of America news, CMO Amy B. Summy sold 226 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $250.40, for a total value of $56,590.40. Following the completion of the transaction, the chief marketing officer now owns 4,544 shares in the company, valued at $1,137,817.60. This represents a 4.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Adam H. Schechter sold 6,121 shares of Laboratory Co. of America stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $244.62, for a total value of $1,497,319.02. Following the sale, the chief executive officer now owns 86,445 shares in the company, valued at $21,146,175.90. This trade represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 14,500 shares of company stock valued at $3,577,572. 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.