Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank cut its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 29.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,682 shares of the medical research company's stock after selling 12,401 shares during the period. Toronto Dominion Bank's holdings in Laboratory Co. of America were worth $6,807,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LH. GF Fund Management CO. LTD. purchased a new position in Laboratory Co. of America in the fourth quarter valued at $481,000. Vega Investment Solutions purchased a new position in Laboratory Co. of America in the fourth quarter valued at $909,000. Burgundy Asset Management Ltd. increased its holdings in Laboratory Co. of America by 2.5% in the fourth quarter. Burgundy Asset Management Ltd. now owns 88,895 shares of the medical research company's stock valued at $20,385,000 after buying an additional 2,138 shares in the last quarter. Vise Technologies Inc. purchased a new position in Laboratory Co. of America in the fourth quarter valued at $291,000. Finally, Connecticut Wealth Management LLC increased its holdings in Laboratory Co. of America by 3.0% in the fourth quarter. Connecticut Wealth Management LLC now owns 2,879 shares of the medical research company's stock valued at $660,000 after buying an additional 84 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Laboratory Co. of America Price Performance

NYSE LH traded up $2.73 during trading hours on Tuesday, hitting $250.58. 684,371 shares of the company's stock traded hands, compared to its average volume of 635,776. Laboratory Co. of America Holdings has a 52-week low of $192.38 and a 52-week high of $258.59. The company has a market capitalization of $20.97 billion, a PE ratio of 28.41, a PEG ratio of 1.71 and a beta of 0.82. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30. The firm's 50-day moving average is $235.99 and its 200-day moving average is $238.48.

Laboratory Co. of America (NYSE:LH - Get Free Report) last announced its quarterly earnings data 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 net margin of 5.73% and a return on equity of 15.29%. The company had revenue of $3.35 billion during the quarter, compared to analysts' expectations of $3.41 billion. During the same quarter in the prior year, the company earned $3.68 EPS. Laboratory Co. of America's revenue was up 5.3% compared to the same quarter last year. Equities analysts forecast that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Thursday, May 29th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.15%. Laboratory Co. of America's dividend payout ratio (DPR) is 33.29%.

Insider Activity

In other news, Director Kerrii B. Anderson sold 500 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $255.63, for a total value of $127,815.00. Following the transaction, the director now directly owns 13,166 shares in the company, valued at approximately $3,365,624.58. This represents a 3.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Peter J. Wilkinson sold 829 shares of the company's stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 2,054 shares in the company, valued at approximately $497,602.04. This represents a 28.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,092 shares of company stock valued at $2,475,635 in the last 90 days. Company insiders own 0.84% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on LH shares. Redburn Atlantic started 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 target price for the company. Jefferies Financial Group boosted their target price on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Wall Street Zen cut shares of Laboratory Co. of America from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. 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 note on Tuesday, March 4th. Finally, Piper Sandler reissued a "neutral" rating and set a $280.00 target price (up previously from $260.00) on shares of Laboratory Co. of America in a research note on Tuesday, May 6th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $272.92.

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.