BDF Gestion Reduces Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

BDF Gestion decreased its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 11.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,923 shares of the medical research company’s stock after selling 1,420 shares during the quarter. BDF Gestion’s holdings in Laboratory Co. of America were worth $2,505,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in LH. SouthState Corp purchased a new position in shares of Laboratory Co. of America during the third quarter worth about $28,000. Horizon Bancorp Inc. IN purchased a new position in shares of Laboratory Co. of America during the third quarter worth about $29,000. Fortitude Family Office LLC grew its holdings 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 buying an additional 100 shares during the last quarter. Riverview Trust Co grew its holdings in shares of Laboratory Co. of America by 172.6% during the third quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock worth $38,000 after buying an additional 107 shares during the last quarter. Finally, Concord Wealth Partners grew its holdings in shares of Laboratory Co. of America by 43.3% during the third quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock worth $38,000 after buying an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Insider Activity at Laboratory Co. of America

In other news, EVP Der Vaart Sandra D. Van sold 1,000 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $239.42, for a total value of $239,420.00. Following the completion of the transaction, the executive vice president now directly owns 2,670 shares in the company, valued at $639,251.40. This trade represents a 27.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Glenn A. Eisenberg sold 11,711 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $240.43, for a total transaction of $2,815,675.73. Following the completion of the transaction, the executive vice president now owns 31,289 shares of the company’s stock, valued at $7,522,814.27. This trade represents a 27.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,572 shares of company stock valued at $5,915,209 in the last quarter. Insiders own 0.85% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Morgan Stanley raised 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. Evercore ISI upgraded shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $260.00 to $265.00 in a research report on Tuesday, January 7th. Hsbc Global Res upgraded shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. HSBC raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Finally, UBS Group lowered 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. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Laboratory Co. of America currently has an average rating of “Moderate Buy” and a consensus price target of $261.77.

Laboratory Co. of America Stock Performance

Shares of LH stock opened at $246.36 on Thursday. The firm has a market capitalization of $20.61 billion, a P/E ratio of 47.65, a P/E/G ratio of 1.81 and a beta of 1.06. The company’s fifty day moving average price is $235.43 and its two-hundred day moving average price is $227.96. The company has a debt-to-equity ratio of 0.66, 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 $250.56.

Laboratory Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.17%. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 55.71%.

Laboratory Co. of America Profile

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.