Folger Nolan Fleming Douglas Capital Management Inc. Sells 97 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Folger Nolan Fleming Douglas Capital Management Inc. lessened its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 4.6% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,993 shares of the medical research company’s stock after selling 97 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Laboratory Co. of America were worth $464,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of LH. Smithbridge Asset Management Inc. DE bought a new position in Laboratory Co. of America in the 1st quarter valued at $2,995,000. NorthCrest Asset Manangement LLC raised its position in Laboratory Co. of America by 0.8% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 40,197 shares of the medical research company’s stock valued at $9,355,000 after purchasing an additional 335 shares during the last quarter. Simon Quick Advisors LLC raised its position in shares of Laboratory Co. of America by 39.5% during the first quarter. Simon Quick Advisors LLC now owns 2,820 shares of the medical research company’s stock worth $656,000 after acquiring an additional 798 shares during the last quarter. Baker Ellis Asset Management LLC raised its position in shares of Laboratory Co. of America by 1.1% during the first quarter. Baker Ellis Asset Management LLC now owns 7,935 shares of the medical research company’s stock worth $1,847,000 after acquiring an additional 90 shares during the last quarter. Finally, USA Financial Formulas acquired a new stake in shares of Laboratory Co. of America during the first quarter worth $717,000. Institutional investors own 95.94% of the company’s stock.

Insider Buying and Selling

In other Laboratory Co. of America news, EVP Amy B. Summy sold 758 shares of Laboratory Co. of America stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $231.67, for a total transaction of $175,605.86. Following the completion of the transaction, the executive vice president now owns 5,302 shares in the company, valued at approximately $1,228,314.34. The trade was a 12.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Peter J. Wilkinson sold 829 shares of the company’s stock in a transaction that occurred on 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 owns 2,054 shares in the company, valued at approximately $497,602.04. The trade was a 28.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,092 shares of company stock valued at $2,971,820 in the last three months. Insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

LH has been the subject of a number of analyst reports. 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. Wall Street Zen cut Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, April 18th. Morgan Stanley upped their price objective on Laboratory Co. of America from $270.00 to $283.00 and gave the stock an “overweight” rating in a research report on Wednesday. Redburn Atlantic started coverage on Laboratory Co. of America in a research report on Wednesday, April 2nd. They set a “buy” rating and a $276.00 price objective for the company. Finally, Truist Financial increased their price target on Laboratory Co. of America from $274.00 to $290.00 and gave the company a “buy” rating in a research report on Monday, May 12th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $274.00.

Laboratory Co. of America Stock Up 0.6%

Shares of NYSE:LH opened at $261.63 on Friday. The firm has a market cap of $21.90 billion, a P/E ratio of 29.66, a P/E/G ratio of 1.71 and a beta of 0.81. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67. Laboratory Co. of America Holdings has a 12-month low of $192.38 and a 12-month high of $262.13. The business has a fifty day simple moving average of $239.71 and a 200 day simple moving average of $239.34.

Laboratory Co. of America (NYSE:LH) last announced its earnings results on Tuesday, April 29th. The medical research company reported $3.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.73 by $0.11. The business had revenue of $3.35 billion during the quarter, compared to analyst estimates 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 for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the company earned $3.68 EPS. Analysts predict that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Thursday, May 29th were given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.10%. Laboratory Co. of America’s dividend payout ratio is currently 33.29%.

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.