Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by First National Bank of Mount Dora Trust Investment Services

First National Bank of Mount Dora Trust Investment Services lessened its holdings in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 87.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,461 shares of the medical research company's stock after selling 10,193 shares during the period. First National Bank of Mount Dora Trust Investment Services' holdings in Laboratory Co. of America were worth $340,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Graney & King LLC purchased a new position in shares of Laboratory Co. of America in the fourth quarter worth about $26,000. Human Investing LLC acquired a new stake in shares of Laboratory Co. of America in the fourth quarter valued at approximately $39,000. Heck Capital Advisors LLC acquired a new stake in Laboratory Co. of America during the fourth quarter worth $44,000. SBI Securities Co. Ltd. acquired a new position in Laboratory Co. of America in the 4th quarter valued at about $52,000. Finally, Deseret Mutual Benefit Administrators increased its holdings in Laboratory Co. of America by 28.2% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 232 shares of the medical research company's stock worth $53,000 after purchasing an additional 51 shares during the period. 95.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on LH. Robert W. Baird lifted their price target on Laboratory Co. of America from $253.00 to $267.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Wall Street Zen downgraded Laboratory Co. of America from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. Truist Financial boosted their target price on shares of Laboratory Co. of America from $274.00 to $290.00 and gave the company a "buy" rating in a research note on Monday, May 12th. 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 report on Tuesday, March 4th. Finally, Redburn Atlantic initiated 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 objective on the stock. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $274.00.

Laboratory Co. of America Trading Up 0.2%

LH stock traded up $0.59 during midday trading on Wednesday, reaching $259.96. 554,143 shares of the company's stock traded hands, compared to its average volume of 638,391. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30. Laboratory Co. of America Holdings has a fifty-two week low of $192.38 and a fifty-two week high of $261.37. The business has a 50-day moving average price of $238.20 and a two-hundred day moving average price of $239.06. The company has a market capitalization of $21.76 billion, a P/E ratio of 29.47, a PEG ratio of 1.71 and a beta of 0.81.

Laboratory Co. of America (NYSE:LH - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The medical research company reported $3.84 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.41 billion. During the same period in the prior year, the firm earned $3.68 EPS. The firm's quarterly revenue was up 5.3% compared to the same quarter last year. Equities research analysts forecast that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Thursday, May 29th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.11%. Laboratory Co. of America's dividend payout ratio (DPR) is 33.29%.

Insider Activity

In other Laboratory Co. of America news, CAO Peter J. Wilkinson sold 829 shares of Laboratory Co. of America stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $242.26, for a total value of $200,833.54. Following the completion of the transaction, the chief accounting officer now directly owns 2,054 shares in the company, valued at $497,602.04. The trade was a 28.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Adam H. Schechter sold 6,105 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $248.73, for a total value of $1,518,496.65. Following the transaction, the chief executive officer now directly owns 98,962 shares of the company's stock, valued at $24,614,818.26. This trade represents a 5.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,592 shares of company stock worth $2,841,820 over the last 90 days. Company insiders own 0.84% 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.