Silvercrest Asset Management Group LLC Decreases Stake in Laboratory Co. of America Holdings (NYSE:LH)

Silvercrest Asset Management Group LLC lowered its position in Laboratory Co. of America Holdings (NYSE:LH) by 0.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 23,281 shares of the medical research company’s stock after selling 215 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Laboratory Co. of America were worth $5,339,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital City Trust Co. FL raised its holdings in shares of Laboratory Co. of America by 1.5% during the 4th quarter. Capital City Trust Co. FL now owns 15,553 shares of the medical research company’s stock worth $3,567,000 after acquiring an additional 223 shares during the period. Wealthcare Advisory Partners LLC raised its holdings in shares of Laboratory Co. of America by 23.9% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 2,543 shares of the medical research company’s stock worth $583,000 after acquiring an additional 490 shares during the period. Bryn Mawr Capital Management LLC raised its holdings in shares of Laboratory Co. of America by 51.2% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 1,495 shares of the medical research company’s stock worth $343,000 after acquiring an additional 506 shares during the period. Barclays PLC raised its holdings in shares of Laboratory Co. of America by 11.8% during the 3rd quarter. Barclays PLC now owns 620,721 shares of the medical research company’s stock worth $138,718,000 after acquiring an additional 65,356 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Laboratory Co. of America by 28.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,394 shares of the medical research company’s stock worth $2,162,000 after acquiring an additional 2,081 shares during the period. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Stock Performance

NYSE LH opened at $249.60 on Monday. The company has a market cap of $20.89 billion, a P/E ratio of 28.30, 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. The stock has a 50-day moving average of $233.57 and a two-hundred day moving average of $237.71. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $258.59.

Laboratory Co. of America (NYSE:LH) last released its earnings results on Tuesday, April 29th. The medical research company reported $3.84 earnings per share for the quarter, beating the consensus estimate of $3.73 by $0.11. The company had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.41 billion. Laboratory Co. of America had a return on equity of 15.29% and a net margin of 5.73%. Laboratory Co. of America’s revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $3.68 EPS. As a group, analysts anticipate that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Thursday, May 29th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.15%. Laboratory Co. of America’s dividend payout ratio is currently 33.29%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LH. UBS Group reduced 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. Robert W. Baird lifted their price target on Laboratory Co. of America from $253.00 to $267.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. StockNews.com lowered Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Friday, April 18th. Truist Financial lifted their price target on Laboratory Co. of America from $274.00 to $290.00 and gave the stock a “buy” rating in a report on Monday, May 12th. Finally, Jefferies Financial Group raised 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. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $270.62.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 500 shares of Laboratory Co. of America stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $255.63, for a total value of $127,815.00. Following the completion of the transaction, the director now directly owns 13,166 shares of the company’s stock, valued at $3,365,624.58. The trade was a 3.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 transaction, the chief accounting officer now directly owns 2,054 shares of the company’s stock, valued at approximately $497,602.04. This represents a 28.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,971 shares of company stock valued at $4,193,073 in the last three months. 0.84% of the stock is owned by corporate insiders.

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.