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

Integrated Wealth Concepts LLC trimmed its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 55.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,250 shares of the medical research company’s stock after selling 2,766 shares during the period. Integrated Wealth Concepts LLC’s holdings in Laboratory Co. of America were worth $516,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of LH. Barclays PLC lifted its position in shares of Laboratory Co. of America by 11.8% in the third quarter. Barclays PLC now owns 620,721 shares of the medical research company’s stock worth $138,718,000 after buying an additional 65,356 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Laboratory Co. of America during the 3rd quarter worth approximately $604,000. Franklin Resources Inc. boosted its position in shares of Laboratory Co. of America by 27.3% during the 3rd quarter. Franklin Resources Inc. now owns 20,837 shares of the medical research company’s stock valued at $4,519,000 after acquiring an additional 4,468 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Laboratory Co. of America by 2.8% in the third quarter. Principal Financial Group Inc. now owns 96,596 shares of the medical research company’s stock valued at $21,587,000 after purchasing an additional 2,595 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position 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 worth $431,405,000 after purchasing an additional 167,137 shares during the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Stock Performance

Shares of NYSE:LH opened at $247.89 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44. The firm has a market cap of $20.74 billion, a PE ratio of 28.11, a price-to-earnings-growth ratio of 1.71 and a beta of 0.82. The firm’s 50 day simple moving average is $234.29 and its 200-day simple moving average is $235.83. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year high of $258.59.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings data 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. Laboratory Co. of America had a return on equity of 15.29% and a net margin of 5.73%. The company had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.41 billion. During the same period last year, the business posted $3.68 EPS. Laboratory Co. of America’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, equities analysts predict that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Thursday, May 29th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.16%. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 33.29%.

Analyst Ratings Changes

A number of brokerages have commented on LH. Redburn Atlantic assumed coverage on shares of Laboratory Co. of America in a research note on Wednesday, April 2nd. They issued a “buy” rating and a $276.00 price objective for the company. Robert W. Baird boosted their price objective on Laboratory Co. of America from $253.00 to $267.00 and gave the stock an “outperform” rating in a research note on Wednesday. Barclays raised 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 note on Wednesday. UBS Group decreased their price target on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Finally, Citigroup raised shares of Laboratory Co. of America from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $250.00 to $300.00 in a research note on Tuesday, March 4th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $267.85.

Insider Buying and Selling at Laboratory Co. of America

In other news, Director Kerrii B. Anderson sold 500 shares of Laboratory Co. of America stock in a transaction 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 transaction, the director now directly owns 13,166 shares in the company, valued at approximately $3,365,624.58. This trade 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, EVP Der Vaart Sandra D. Van sold 1,314 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $251.30, for a total value of $330,208.20. Following the sale, the executive vice president now owns 2,171 shares of the company’s stock, valued at $545,572.30. This trade represents a 37.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,258 shares of company stock valued at $3,518,177. Company insiders own 0.84% of the company’s stock.

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.