BlackDiamond Wealth Management LLC Sells 234 Shares of Laboratory Co. of America Holdings (NYSE:LH)

BlackDiamond Wealth Management LLC trimmed its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 10.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,992 shares of the medical research company’s stock after selling 234 shares during the quarter. BlackDiamond Wealth Management LLC’s holdings in Laboratory Co. of America were worth $457,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of LH. Amundi increased its stake in shares of Laboratory Co. of America by 344.9% in the 4th quarter. Amundi now owns 1,123,409 shares of the medical research company’s stock worth $263,161,000 after acquiring an additional 870,903 shares in the last quarter. Madison Investment Advisors LLC bought a new stake in Laboratory Co. of America during the 4th quarter valued at about $123,415,000. FMR LLC increased its stake in Laboratory Co. of America by 17.0% during the 3rd quarter. FMR LLC now owns 1,586,397 shares of the medical research company’s stock valued at $354,528,000 after purchasing an additional 230,708 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Laboratory Co. of America by 9.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company’s stock valued at $431,405,000 after purchasing an additional 167,137 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Laboratory Co. of America during the 4th quarter valued at about $33,779,000. 95.94% of the stock is currently owned by institutional investors.

Laboratory Co. of America Stock Performance

LH opened at $240.43 on Tuesday. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67. The company has a market cap of $20.12 billion, a price-to-earnings ratio of 27.26, a PEG ratio of 1.71 and a beta of 1.12. The company’s 50 day moving average is $244.90 and its 200 day moving average is $234.14. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $258.59.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.40 by $0.05. Laboratory Co. of America had a net margin of 5.73% and a return on equity of 15.29%. On average, equities research analysts predict that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th were issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend was Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio is currently 32.65%.

Insider Buying and Selling at Laboratory Co. of America

In related news, Director Kerrii B. Anderson sold 1,000 shares of the company’s stock in a transaction 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 completion of the transaction, the director now owns 12,722 shares in the company, valued at approximately $2,989,670. This represents a 7.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Adam H. Schechter sold 6,121 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $244.62, for a total transaction of $1,497,319.02. Following the transaction, the chief executive officer now owns 86,445 shares of the company’s stock, valued at approximately $21,146,175.90. This represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,500 shares of company stock valued at $3,577,572 over the last 90 days. 0.85% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Barclays reduced their price objective on shares of Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating for the company in a research note on Friday, February 7th. StockNews.com upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. UBS Group reduced their price objective on shares of Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Citigroup upgraded shares of Laboratory Co. of America from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $250.00 to $300.00 in a research note on Tuesday, March 4th. Finally, Piper Sandler lifted their price target on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Three equities 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 company’s stock. According to MarketBeat.com, Laboratory Co. of America presently has a consensus rating of “Moderate Buy” and an average target price of $268.38.

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.