Toronto Dominion Bank Sells 12,401 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Toronto Dominion Bank lowered its stake in Laboratory Co. of America Holdings (NYSE:LH) by 29.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 29,682 shares of the medical research company’s stock after selling 12,401 shares during the quarter. Toronto Dominion Bank’s holdings in Laboratory Co. of America were worth $6,807,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LH. Empowered Funds LLC raised its holdings in shares of Laboratory Co. of America by 0.5% during the fourth quarter. Empowered Funds LLC now owns 8,025 shares of the medical research company’s stock valued at $1,840,000 after acquiring an additional 43 shares in the last quarter. SP Asset Management LLC raised its holdings in shares of Laboratory Co. of America by 0.3% during the fourth quarter. SP Asset Management LLC now owns 15,186 shares of the medical research company’s stock valued at $3,483,000 after acquiring an additional 43 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Laboratory Co. of America by 0.4% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 12,780 shares of the medical research company’s stock valued at $2,931,000 after acquiring an additional 45 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of Laboratory Co. of America by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,194 shares of the medical research company’s stock valued at $1,650,000 after acquiring an additional 46 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators raised its holdings in shares of Laboratory Co. of America by 28.2% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 232 shares of the medical research company’s stock valued at $53,000 after acquiring an additional 51 shares in the last quarter. Institutional investors own 95.94% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Jefferies Financial Group upped their target price on Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Piper Sandler restated a “neutral” rating and set a $280.00 target price (up previously from $260.00) on shares of Laboratory Co. of America in a report on Tuesday, May 6th. Wall Street Zen downgraded Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Friday, April 18th. Truist Financial upped their target price on Laboratory Co. of America from $274.00 to $290.00 and gave the company a “buy” rating in a report on Monday, May 12th. Finally, Robert W. Baird increased their price objective 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. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $270.62.

Laboratory Co. of America Price Performance

Shares of NYSE:LH opened at $246.60 on Friday. 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 1-year low of $191.97 and a 1-year high of $258.59. The company has a market capitalization of $20.64 billion, a PE ratio of 27.96, a PEG ratio of 1.71 and a beta of 0.82. The business has a fifty day moving average price of $235.02 and a 200-day moving average price of $238.33.

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, beating 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 analysts’ expectations of $3.41 billion. During the same period last year, the firm posted $3.68 earnings per share. Laboratory Co. of America’s revenue was up 5.3% compared to the same quarter last year. As a group, 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 firm 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 annualized dividend and a dividend yield of 1.17%. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 33.29%.

Insider Activity at Laboratory Co. of America

In related news, CEO Adam H. Schechter sold 6,105 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $248.73, for a total transaction of $1,518,496.65. Following the sale, the chief executive officer now directly owns 98,962 shares of the company’s stock, valued at $24,614,818.26. This trade represents a 5.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kerrii B. Anderson sold 500 shares of the firm’s 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 in the company, valued at $3,365,624.58. The trade was a 3.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,092 shares of company stock valued at $2,475,635 over the last ninety days. Insiders own 0.84% of the company’s stock.

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.