Baker Ellis Asset Management LLC Sells 294 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Baker Ellis Asset Management LLC trimmed its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 3.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,845 shares of the medical research company’s stock after selling 294 shares during the period. Baker Ellis Asset Management LLC’s holdings in Laboratory Co. of America were worth $1,799,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of LH. SouthState Corp bought a new position in Laboratory Co. of America during the third quarter valued at $28,000. Horizon Bancorp Inc. IN bought a new position in shares of Laboratory Co. of America in the third quarter worth $29,000. Fortitude Family Office LLC boosted its holdings in shares of Laboratory Co. of America by 312.5% in the fourth quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock worth $30,000 after acquiring an additional 100 shares during the period. Riverview Trust Co boosted its holdings in shares of Laboratory Co. of America by 172.6% in the third quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock worth $38,000 after acquiring an additional 107 shares during the period. Finally, Concord Wealth Partners boosted its holdings in shares of Laboratory Co. of America by 43.3% in the third quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock worth $38,000 after acquiring an additional 52 shares during the period. 95.94% of the stock is owned by institutional investors.

Laboratory Co. of America Stock Down 0.6 %

LH opened at $242.47 on Thursday. The company has a market cap of $20.28 billion, a P/E ratio of 46.90, a P/E/G ratio of 1.82 and a beta of 1.06. The business’s 50-day moving average price is $234.69 and its 200-day moving average price is $226.44. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $247.99.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings data on Thursday, October 24th. The medical research company reported $3.50 EPS for the quarter, topping the consensus estimate of $3.48 by $0.02. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.26 billion. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The company’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.38 earnings per share. On average, equities analysts expect that Laboratory Co. of America Holdings will post 14.51 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.19%. Laboratory Co. of America’s dividend payout ratio is currently 55.71%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on LH shares. HSBC raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. StockNews.com downgraded Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Piper Sandler increased their price objective on Laboratory Co. of America from $235.00 to $240.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Jefferies Financial Group reiterated a “buy” rating and issued a $275.00 price objective (up previously from $265.00) on shares of Laboratory Co. of America in a research report on Tuesday, December 10th. Finally, Barclays increased their price objective on Laboratory Co. of America from $234.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $260.54.

Insider Buying and Selling

In related news, CEO Adam H. Schechter sold 6,189 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $243.47, for a total value of $1,506,835.83. Following the sale, the chief executive officer now directly owns 87,441 shares of the company’s stock, valued at $21,289,260.27. This trade represents a 6.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kerrii B. Anderson sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $235.00, for a total value of $235,000.00. Following the completion of the sale, the director now directly owns 12,722 shares in the company, valued at $2,989,670. The trade was a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,572 shares of company stock valued at $5,915,209 over the last ninety days. 0.85% of the stock is owned by 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.