Cohen Klingenstein LLC Decreases Stock Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Cohen Klingenstein LLC lowered its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 5.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,710 shares of the medical research company’s stock after selling 1,500 shares during the quarter. Cohen Klingenstein LLC’s holdings in Laboratory Co. of America were worth $5,666,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Integrated Investment Consultants LLC acquired a new position in shares of Laboratory Co. of America during the 4th quarter worth approximately $235,000. Arkadios Wealth Advisors increased its position in Laboratory Co. of America by 27.7% during the fourth quarter. Arkadios Wealth Advisors now owns 2,041 shares of the medical research company’s stock worth $468,000 after purchasing an additional 443 shares during the last quarter. Brooklyn Investment Group lifted its holdings in Laboratory Co. of America by 12.8% in the fourth quarter. Brooklyn Investment Group now owns 651 shares of the medical research company’s stock valued at $149,000 after acquiring an additional 74 shares during the last quarter. Merit Financial Group LLC purchased a new stake in Laboratory Co. of America in the 4th quarter valued at about $636,000. Finally, First National Bank of Mount Dora Trust Investment Services grew its stake in shares of Laboratory Co. of America by 0.7% in the fourth quarter. First National Bank of Mount Dora Trust Investment Services now owns 11,654 shares of the medical research company’s stock valued at $2,672,000 after buying an additional 84 shares in the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.

Laboratory Co. of America Stock Down 0.1 %

Shares of NYSE:LH opened at $238.44 on Friday. The company has a market capitalization of $19.94 billion, a P/E ratio of 46.12, a P/E/G ratio of 1.73 and a beta of 1.06. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $247.99. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.66. The stock’s fifty day simple moving average is $234.80 and its 200-day simple moving average is $225.60.

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

Laboratory Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors 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 (DPR) is currently 55.71%.

Wall Street Analyst Weigh In

LH has been the subject of several research reports. Robert W. Baird lifted their target price on Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Hsbc Global Res upgraded Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. 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 research note on Tuesday, December 17th. Evercore ISI upgraded shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $260.00 to $265.00 in a research report on Tuesday, January 7th. Finally, Bank of America upped their target price on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a report on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $260.54.

Insider Buying and Selling

In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was 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 in the company, valued at $3,156,060. This represents a 6.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Amy B. Summy sold 3,672 shares of Laboratory Co. of America stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $238.91, for a total transaction of $877,277.52. Following the sale, the chief marketing officer now owns 4,318 shares in the company, valued at $1,031,613.38. This represents a 45.96 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,572 shares of company stock valued at $6,145,209. 0.85% of the stock is currently owned by company insiders.

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.