Galvin Gaustad & Stein LLC Sells 1,098 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Galvin Gaustad & Stein LLC reduced its stake in Laboratory Co. of America Holdings (NYSE:LH) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,412 shares of the medical research company’s stock after selling 1,098 shares during the period. Laboratory Co. of America accounts for 1.8% of Galvin Gaustad & Stein LLC’s portfolio, making the stock its 20th largest position. Galvin Gaustad & Stein LLC owned approximately 0.10% of Laboratory Co. of America worth $20,045,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of LH. Select Equity Group L.P. bought a new position in Laboratory Co. of America in the second quarter worth about $73,928,000. Allspring Global Investments Holdings LLC increased its stake in shares of Laboratory Co. of America by 16.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,865,460 shares of the medical research company’s stock valued at $416,893,000 after purchasing an additional 263,105 shares in the last quarter. FMR LLC increased its stake in shares of Laboratory Co. of America by 17.0% during the third 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 shares of Laboratory Co. of America by 9.5% during the third 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, AQR Capital Management LLC increased its stake in shares of Laboratory Co. of America by 95.5% during the second quarter. AQR Capital Management LLC now owns 282,964 shares of the medical research company’s stock valued at $57,527,000 after purchasing an additional 138,211 shares in the last quarter. 95.94% of the stock is owned by institutional investors.

Laboratory Co. of America Trading Up 0.0 %

Shares of LH stock opened at $242.56 on Thursday. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $247.99. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66. The firm’s 50 day moving average is $234.62 and its 200 day moving average is $226.55. The stock has a market capitalization of $20.29 billion, a P/E ratio of 46.91, a P/E/G ratio of 1.82 and a beta of 1.06.

Laboratory Co. of America (NYSE:LH) last issued its earnings results 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. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter last year, the company posted $3.38 earnings per share. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. Research analysts expect that Laboratory Co. of America Holdings will post 14.51 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.19%. Laboratory Co. of America’s payout ratio is presently 55.71%.

Wall Street Analyst Weigh In

LH has been the subject of a number of analyst reports. Hsbc Global Res raised shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Jefferies Financial Group reaffirmed a “buy” rating and set a $275.00 target price (up previously from $265.00) on shares of Laboratory Co. of America in a research note on Tuesday, December 10th. Barclays raised 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 note on Friday, October 25th. StockNews.com cut shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Finally, Morgan Stanley increased their price target on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Laboratory Co. of America currently has an average rating of “Moderate Buy” and a consensus price target of $260.54.

Insiders Place Their Bets

In other news, Director Kerrii B. Anderson sold 1,000 shares of the firm’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 sale, the director now directly owns 12,722 shares in the company, valued at $2,989,670. This trade represents a 7.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Adam H. Schechter sold 6,189 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $243.47, for a total transaction of $1,506,835.83. Following the sale, 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,572 shares of company stock worth $5,915,209. Company insiders own 0.85% of the company’s stock.

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.