Laboratory Co. of America Holdings (NYSE:LH) Position Lessened by Toronto Dominion Bank

Toronto Dominion Bank lowered its stake in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 29.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 hedge funds also recently bought and sold shares of LH. Graney & King LLC purchased a new position in shares of Laboratory Co. of America in the 4th quarter valued at approximately $26,000. Geneos Wealth Management Inc. lifted its holdings in shares of Laboratory Co. of America by 309.8% in the 4th quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company's stock valued at $39,000 after buying an additional 127 shares during the period. Human Investing LLC acquired a new stake in shares of Laboratory Co. of America in the 4th quarter valued at approximately $39,000. Heck Capital Advisors LLC acquired a new position in Laboratory Co. of America during the fourth quarter worth $44,000. Finally, SBI Securities Co. Ltd. acquired a new position in Laboratory Co. of America during the fourth quarter worth $52,000. Institutional investors and hedge funds own 95.94% of the company's stock.

Insider Buying and Selling at Laboratory Co. of America

In related news, EVP Amy B. Summy sold 758 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 5,302 shares of the company's stock, valued at $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 available through the SEC website. Also, Director Kerrii B. Anderson sold 500 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $255.63, for a total value of $127,815.00. Following the completion of the transaction, the director now directly owns 13,166 shares of the company's stock, valued at $3,365,624.58. This trade represents a 3.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,092 shares of company stock worth $2,475,635 over the last quarter. 0.84% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Robert W. Baird boosted their price target on Laboratory Co. of America from $253.00 to $267.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Truist Financial boosted their price target on Laboratory Co. of America from $274.00 to $290.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Piper Sandler reaffirmed a "neutral" rating and issued a $280.00 price objective (up previously from $260.00) on shares of Laboratory Co. of America in a research report on Tuesday, May 6th. Citigroup raised Laboratory Co. of America from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $250.00 to $300.00 in a research report on Tuesday, March 4th. Finally, Barclays lifted their price objective on Laboratory Co. of America from $240.00 to $250.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 30th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Laboratory Co. of America presently has an average rating of "Moderate Buy" and a consensus target price of $272.92.

Laboratory Co. of America Trading Up 0.8%

LH stock traded up $1.87 during trading on Friday, reaching $248.62. 1,185,977 shares of the stock traded hands, compared to its average volume of 636,380. The business's 50 day moving average price is $235.32 and its 200-day moving average price is $238.36. 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 debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30. The firm has a market capitalization of $20.81 billion, a PE ratio of 28.19, a P/E/G ratio of 1.71 and a beta of 0.82.

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

Laboratory Co. of America Announces Dividend

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 paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.16%. Laboratory Co. of America's payout ratio is currently 33.29%.

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.