Hsbc Holdings PLC Sells 14,896 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Hsbc Holdings PLC trimmed its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 8.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 161,976 shares of the medical research company's stock after selling 14,896 shares during the period. Hsbc Holdings PLC owned about 0.19% of Laboratory Co. of America worth $37,184,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. OneDigital Investment Advisors LLC increased its stake in shares of Laboratory Co. of America by 12.3% in the fourth quarter. OneDigital Investment Advisors LLC now owns 6,834 shares of the medical research company's stock worth $1,567,000 after acquiring an additional 746 shares during the last quarter. Stifel Financial Corp increased its stake in shares of Laboratory Co. of America by 2.4% in the fourth quarter. Stifel Financial Corp now owns 608,944 shares of the medical research company's stock worth $139,643,000 after purchasing an additional 14,437 shares during the period. State of Tennessee Department of Treasury lifted its position in shares of Laboratory Co. of America by 45.4% during the 4th quarter. State of Tennessee Department of Treasury now owns 17,470 shares of the medical research company's stock worth $4,006,000 after purchasing an additional 5,454 shares during the last quarter. TD Waterhouse Canada Inc. grew its stake in shares of Laboratory Co. of America by 60.2% in the fourth quarter. TD Waterhouse Canada Inc. now owns 950 shares of the medical research company's stock worth $218,000 after acquiring an additional 357 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Laboratory Co. of America by 31.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,516 shares of the medical research company's stock worth $1,036,000 after purchasing an additional 1,080 shares during the period. 95.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, COO Mark S. Schroeder sold 5,339 shares of the business's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $249.23, for a total transaction of $1,330,638.97. Following the completion of the transaction, the chief operating officer now owns 4,960 shares of the company's stock, valued at approximately $1,236,180.80. The trade was a 51.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adam H. Schechter sold 6,121 shares of the company's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $244.62, for a total transaction of $1,497,319.02. Following the completion of the transaction, the chief executive officer now directly owns 86,445 shares in the company, valued at approximately $21,146,175.90. The trade was a 6.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,258 shares of company stock valued at $3,518,177 over the last quarter. Company insiders own 0.84% of the company's stock.

Laboratory Co. of America Stock Up 0.2 %

Shares of NYSE:LH traded up $0.59 during mid-day trading on Thursday, hitting $241.60. 215,764 shares of the company traded hands, compared to its average volume of 718,558. The stock has a market cap of $20.21 billion, a P/E ratio of 27.38, a P/E/G ratio of 1.71 and a beta of 0.99. The stock has a 50-day moving average price of $234.59 and a two-hundred day moving average price of $235.45. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $258.59. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67.

Laboratory Co. of America (NYSE:LH - Get Free Report) last posted its earnings results on Tuesday, April 29th. The medical research company reported $3.84 EPS for the quarter, topping the consensus estimate of $3.73 by $0.11. The firm had revenue of $3.35 billion for the quarter, compared to analysts' expectations of $3.41 billion. Laboratory Co. of America had a net margin of 5.73% and a return on equity of 15.29%. The company's quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm earned $3.68 EPS. On average, equities research 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 firm also recently announced 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 1.19%. Laboratory Co. of America's payout ratio is 32.65%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on LH shares. Truist Financial cut their price target on Laboratory Co. of America from $285.00 to $274.00 and set a "buy" rating for the company in a report on Friday, April 11th. Jefferies Financial Group lifted their price objective on Laboratory Co. of America from $275.00 to $290.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Citigroup raised shares of Laboratory Co. of America from a "neutral" rating to a "buy" rating and raised their target price for the company from $250.00 to $300.00 in a research note on Tuesday, March 4th. Robert W. Baird increased their target price on Laboratory Co. of America from $253.00 to $267.00 and gave the company an "outperform" rating in a research note on Wednesday. Finally, StockNews.com cut shares of Laboratory Co. of America from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $267.85.

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.