Farther Finance Advisors LLC Has $430,000 Stock Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Farther Finance Advisors LLC cut its holdings in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 39.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,849 shares of the medical research company's stock after selling 1,228 shares during the quarter. Farther Finance Advisors LLC's holdings in Laboratory Co. of America were worth $430,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Graney & King LLC bought a new position in shares of Laboratory Co. of America in the fourth quarter valued at approximately $26,000. Human Investing LLC bought a new position in shares of Laboratory Co. of America in the fourth quarter valued at approximately $39,000. Heck Capital Advisors LLC bought a new position in shares of Laboratory Co. of America in the fourth quarter valued at approximately $44,000. SBI Securities Co. Ltd. bought a new position in shares of Laboratory Co. of America in the fourth quarter valued at approximately $52,000. Finally, Deseret Mutual Benefit Administrators raised its position in shares of Laboratory Co. of America by 28.2% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 232 shares of the medical research company's stock valued at $53,000 after purchasing an additional 51 shares during the period. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Peter J. Wilkinson sold 829 shares of the firm's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $242.26, for a total transaction of $200,833.54. Following the completion of the sale, the chief accounting officer now directly owns 2,054 shares of the company's stock, valued at $497,602.04. This trade represents a 28.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kerrii B. Anderson sold 500 shares of the firm's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $260.00, for a total value of $130,000.00. Following the sale, the director now directly owns 12,666 shares of the company's stock, valued at approximately $3,293,160. This represents a 3.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,092 shares of company stock worth $2,971,820. Corporate insiders own 0.84% of the company's stock.

Analysts Set New Price Targets

LH has been the topic of a number of research reports. Wall Street Zen lowered shares of Laboratory Co. of America from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. Morgan Stanley boosted their target price on shares of Laboratory Co. of America from $270.00 to $283.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 11th. Citigroup raised shares of Laboratory Co. of America from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $250.00 to $300.00 in a research report on Tuesday, March 4th. Truist Financial lifted their price target on shares of Laboratory Co. of America from $274.00 to $290.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Finally, Redburn Atlantic began coverage on shares of Laboratory Co. of America in a research note on Wednesday, April 2nd. They set a "buy" rating and a $276.00 price target on the stock. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $274.00.

Laboratory Co. of America Stock Up 1.1%

LH opened at $263.95 on Tuesday. Laboratory Co. of America Holdings has a fifty-two week low of $198.07 and a fifty-two week high of $264.03. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44. The company has a market capitalization of $22.09 billion, a P/E ratio of 29.93, a P/E/G ratio of 1.71 and a beta of 0.81. The stock has a fifty day moving average of $241.51 and a 200-day moving average of $239.62.

Laboratory Co. of America (NYSE:LH - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The medical research company reported $3.84 EPS for the quarter, beating analysts' consensus estimates of $3.73 by $0.11. Laboratory Co. of America had a return on equity of 15.29% and a net margin of 5.73%. The business had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.41 billion. During the same quarter in the previous year, the firm earned $3.68 earnings per share. Laboratory Co. of America's revenue for the quarter was up 5.3% compared to the same quarter last year. On average, equities analysts expect that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Thursday, May 29th were issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.09%. Laboratory Co. of America's payout ratio is 33.29%.

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.

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