EP Wealth Advisors LLC Has $305,000 Stock Holdings in Laboratory Co. of America Holdings (NYSE:LH)

EP Wealth Advisors LLC decreased its stake in Laboratory Co. of America Holdings (NYSE:LH) by 6.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,329 shares of the medical research company’s stock after selling 91 shares during the period. EP Wealth Advisors LLC’s holdings in Laboratory Co. of America were worth $305,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Geode Capital Management LLC grew its stake in Laboratory Co. of America by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 2,003,998 shares of the medical research company’s stock valued at $458,334,000 after purchasing an additional 39,255 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Laboratory Co. of America by 9.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company’s stock valued at $431,405,000 after buying an additional 167,137 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Laboratory Co. of America by 2.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,916,505 shares of the medical research company’s stock valued at $437,357,000 after buying an additional 51,045 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Laboratory Co. of America by 2.4% during the fourth quarter. Bank of New York Mellon Corp now owns 1,822,964 shares of the medical research company’s stock worth $418,042,000 after buying an additional 41,898 shares during the last quarter. Finally, FMR LLC raised its position in Laboratory Co. of America by 2.2% during the fourth quarter. FMR LLC now owns 1,620,826 shares of the medical research company’s stock worth $371,688,000 after acquiring an additional 34,429 shares in the last quarter. Institutional investors own 95.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on LH shares. Piper Sandler reissued 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. StockNews.com downgraded Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, April 18th. 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 report on Wednesday, April 30th. Citigroup upgraded shares of Laboratory Co. of America from a “neutral” rating to a “buy” rating and upped their price objective for the company from $250.00 to $300.00 in a report on Tuesday, March 4th. Finally, Robert W. Baird increased their target price on Laboratory Co. of America from $253.00 to $267.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $270.62.

Laboratory Co. of America Stock Up 2.1%

Shares of LH opened at $250.89 on Tuesday. The firm has a 50 day simple moving average of $233.61 and a two-hundred day simple moving average of $237.19. 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 Holdings has a one year low of $191.97 and a one year high of $258.59. The company has a market cap of $21.00 billion, a P/E ratio of 28.45, a P/E/G ratio of 1.71 and a beta of 0.82.

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

Laboratory Co. of America Announces Dividend

The business 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 1.15%. Laboratory Co. of America’s dividend payout ratio is 33.29%.

Insider Activity at Laboratory Co. of America

In other news, CAO Peter J. Wilkinson sold 829 shares of Laboratory Co. of America stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $242.26, for a total transaction of $200,833.54. Following the sale, the chief accounting officer now directly owns 2,054 shares of the company’s stock, valued at approximately $497,602.04. This trade represents a 28.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Amy B. Summy sold 758 shares of the business’s stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $231.67, for a total value of $175,605.86. Following the sale, the executive vice president now owns 5,302 shares in the company, valued at approximately $1,228,314.34. This trade represents a 12.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,866 shares of company stock valued at $2,674,576 in the last quarter. 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.