Integrated Wealth Concepts LLC Sells 2,766 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Integrated Wealth Concepts LLC decreased its position in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 55.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,250 shares of the medical research company's stock after selling 2,766 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Laboratory Co. of America were worth $516,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Laboratory Co. of America in the fourth quarter valued at approximately $239,811,000. Amundi lifted its position in shares of Laboratory Co. of America by 344.9% during the 4th quarter. Amundi now owns 1,123,409 shares of the medical research company's stock valued at $263,161,000 after acquiring an additional 870,903 shares during the period. Madison Investment Advisors LLC acquired a new stake in shares of Laboratory Co. of America during the 4th quarter worth $123,415,000. Alliancebernstein L.P. increased its position in shares of Laboratory Co. of America by 59.4% in the fourth quarter. Alliancebernstein L.P. now owns 1,021,104 shares of the medical research company's stock worth $234,160,000 after purchasing an additional 380,624 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Laboratory Co. of America by 9.5% in the third quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company's stock valued at $431,405,000 after purchasing an additional 167,137 shares in the last quarter. Institutional investors own 95.94% of the company's stock.

Laboratory Co. of America Trading Up 1.1 %

Shares of LH stock traded up $2.62 during mid-day trading on Wednesday, hitting $246.54. The company's stock had a trading volume of 303,194 shares, compared to its average volume of 637,614. The company's fifty day simple moving average is $234.11 and its 200-day simple moving average is $236.38. Laboratory Co. of America Holdings has a 52 week low of $191.97 and a 52 week high of $258.59. The company has a market cap of $20.64 billion, a PE ratio of 27.92, a P/E/G 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 (NYSE:LH - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The medical research company reported $3.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 return on equity of 15.29% and a net margin of 5.73%. The company's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the business earned $3.68 EPS. As a group, equities research analysts expect that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Thursday, May 29th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.17%. Laboratory Co. of America's payout ratio is 33.29%.

Insider Buying and Selling

In other Laboratory Co. of America news, CAO Peter J. Wilkinson sold 829 shares of the business's stock in a transaction 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 transaction, the chief accounting officer now owns 2,054 shares of the company's stock, valued at approximately $497,602.04. The trade was a 28.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Amy B. Summy sold 758 shares of the firm's stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $231.67, for a total transaction of $175,605.86. Following the sale, the executive vice president now owns 5,302 shares of the company's stock, valued at $1,228,314.34. This trade represents a 12.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,987 shares of company stock worth $4,171,895 in the last ninety days. Corporate insiders own 0.84% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on LH. Piper Sandler reiterated a "neutral" rating and set a $280.00 price target (up previously from $260.00) on shares of Laboratory Co. of America in a research report on Tuesday. Redburn Atlantic started coverage on Laboratory Co. of America in a research note on Wednesday, April 2nd. They issued a "buy" rating and a $276.00 price target on the stock. StockNews.com downgraded Laboratory Co. of America from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. Evercore ISI upgraded shares of Laboratory Co. of America from an "in-line" rating to an "outperform" rating and raised their target price for the company from $260.00 to $265.00 in a research report on Tuesday, January 7th. Finally, Truist Financial lowered their target price 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. Four equities research 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 company presently has an average rating of "Moderate Buy" and a consensus price target of $269.38.

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.