Fragasso Financial Advisors Inc Cuts Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Fragasso Financial Advisors Inc decreased its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 22.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,028 shares of the medical research company's stock after selling 2,617 shares during the period. Fragasso Financial Advisors Inc's holdings in Laboratory Co. of America were worth $2,101,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital City Trust Co. FL grew its holdings in shares of Laboratory Co. of America by 1.5% during the 4th quarter. Capital City Trust Co. FL now owns 15,553 shares of the medical research company's stock worth $3,567,000 after acquiring an additional 223 shares during the period. Bryn Mawr Capital Management LLC grew its holdings in shares of Laboratory Co. of America by 51.2% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 1,495 shares of the medical research company's stock worth $343,000 after acquiring an additional 506 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Laboratory Co. of America by 28.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,394 shares of the medical research company's stock worth $2,162,000 after acquiring an additional 2,081 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Laboratory Co. of America by 9.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company's stock worth $431,405,000 after acquiring an additional 167,137 shares during the period. Finally, LPL Financial LLC grew its holdings in shares of Laboratory Co. of America by 63.8% during the 4th quarter. LPL Financial LLC now owns 62,546 shares of the medical research company's stock worth $14,343,000 after acquiring an additional 24,357 shares during the period. Institutional investors own 95.94% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Citigroup upgraded Laboratory Co. of America from a "neutral" rating to a "buy" rating and upped their price target for the stock from $250.00 to $300.00 in a research note on Tuesday, March 4th. Wall Street Zen downgraded Laboratory Co. of America from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. Truist Financial upped their price target on 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. Barclays upped their price target on Laboratory Co. of America from $240.00 to $250.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 30th. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $280.00 price objective (up from $260.00) on shares of Laboratory Co. of America in a research report on Tuesday, May 6th. Four equities research 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 MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $272.92.

Laboratory Co. of America Stock Performance

Shares of NYSE LH traded down $0.14 during midday trading on Thursday, hitting $254.23. 188,018 shares of the stock traded hands, compared to its average volume of 634,694. The firm has a 50-day moving average of $236.48 and a two-hundred day moving average of $238.59. The firm has a market capitalization of $21.28 billion, a P/E ratio of 28.82, a PEG ratio of 1.71 and a beta of 0.82. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44. Laboratory Co. of America Holdings has a one year low of $192.38 and a one year high of $258.59.

Laboratory Co. of America (NYSE:LH - Get Free Report) last announced its earnings results on Tuesday, April 29th. The medical research company reported $3.84 EPS for the quarter, topping 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 company had revenue of $3.35 billion for the quarter, compared to analysts' expectations of $3.41 billion. During the same period last year, the firm earned $3.68 EPS. Laboratory Co. of America's revenue for the quarter was up 5.3% compared to the same quarter last year. On average, equities 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Thursday, May 29th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.13%. Laboratory Co. of America's dividend payout ratio is currently 33.29%.

Insider Buying and Selling

In other Laboratory Co. of America news, EVP Amy B. Summy sold 758 shares of the stock in a transaction on Friday, March 28th. The stock was sold at an average price of $231.67, for a total value of $175,605.86. Following the completion of the sale, the executive vice president now owns 5,302 shares in the company, valued at approximately $1,228,314.34. This represents a 12.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Adam H. Schechter sold 6,105 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $248.73, for a total value of $1,518,496.65. Following the completion of the sale, the chief executive officer now owns 98,962 shares of the company's stock, valued at $24,614,818.26. The trade was a 5.81% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,592 shares of company stock valued at $2,347,820. 0.84% of the stock is 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.