Lido Advisors LLC Sells 28,413 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Lido Advisors LLC trimmed its position in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 71.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 11,250 shares of the medical research company's stock after selling 28,413 shares during the period. Lido Advisors LLC's holdings in Laboratory Co. of America were worth $2,580,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LH. Graney & King LLC bought a new stake in shares of Laboratory Co. of America during the 4th quarter valued at about $26,000. Fortitude Family Office LLC grew its stake in shares of Laboratory Co. of America by 312.5% in the fourth quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company's stock worth $30,000 after purchasing an additional 100 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in Laboratory Co. of America by 309.8% during the 4th quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company's stock valued at $39,000 after purchasing an additional 127 shares during the period. Human Investing LLC purchased a new stake in Laboratory Co. of America in the 4th quarter worth approximately $39,000. Finally, Heck Capital Advisors LLC bought a new stake in Laboratory Co. of America in the fourth quarter valued at $44,000. Hedge funds and other institutional investors own 95.94% of the company's stock.

Laboratory Co. of America Trading Down 0.3 %

NYSE:LH traded down $0.68 on Tuesday, reaching $246.14. The stock had a trading volume of 118,245 shares, compared to its average volume of 637,254. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $258.59. The firm's fifty day moving average is $234.19 and its two-hundred day moving average is $236.33. The company has a market cap of $20.59 billion, a price-to-earnings ratio of 27.90, 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 current ratio of 1.44 and a quick ratio of 1.30.

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 (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 net margin of 5.73% and a return on equity of 15.29%. Laboratory Co. of America's revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the company posted $3.68 earnings per share. Equities analysts expect 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 disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Investors 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 yield of 1.17%. Laboratory Co. of America's payout ratio is 33.29%.

Insider Activity

In related news, EVP Der Vaart Sandra D. Van sold 1,900 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $238.36, for a total transaction of $452,884.00. Following the completion of the transaction, the executive vice president now owns 2,244 shares in the company, valued at approximately $534,879.84. The trade was a 45.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Peter J. Wilkinson sold 829 shares of Laboratory Co. of America stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $242.26, for a total value of $200,833.54. Following the completion of the sale, the chief accounting officer now directly owns 2,054 shares in the company, valued at $497,602.04. This represents a 28.75 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,987 shares of company stock valued at $4,171,895. Insiders own 0.84% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on LH. Evercore ISI upgraded Laboratory Co. of America from an "in-line" rating to an "outperform" rating and boosted their price target for the stock from $260.00 to $265.00 in a research note on Tuesday, January 7th. Barclays lifted their price objective 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. Robert W. Baird boosted their price target on shares of Laboratory Co. of America from $253.00 to $267.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Truist Financial dropped 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. Finally, StockNews.com lowered Laboratory Co. of America from a "buy" rating to a "hold" rating in a report on Friday, April 18th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $267.85.

Laboratory Co. of America Profile

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.