Congress Wealth Management LLC DE Has $280,000 Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Congress Wealth Management LLC DE trimmed its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 72.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,220 shares of the medical research company’s stock after selling 3,212 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Laboratory Co. of America were worth $280,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. State Street Corp increased its holdings in Laboratory Co. of America by 0.7% during the 3rd quarter. State Street Corp now owns 3,726,627 shares of the medical research company’s stock valued at $832,827,000 after purchasing an additional 25,469 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Laboratory Co. of America by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,964,743 shares of the medical research company’s stock valued at $437,561,000 after buying an additional 13,298 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Laboratory Co. of America by 9.5% in the third 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 lifted its position in Laboratory Co. of America by 2.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,916,505 shares of the medical research company’s stock worth $437,357,000 after buying an additional 51,045 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Laboratory Co. of America by 2.4% during the 4th 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 acquiring an additional 41,898 shares during the last quarter. Institutional investors own 95.94% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on LH shares. UBS Group reduced their target price on shares of Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Jefferies Financial Group increased their price objective on Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Citigroup upgraded Laboratory Co. of America from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $250.00 to $300.00 in a research report on Tuesday, March 4th. Bank of America raised their price target on Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Barclays lowered their price objective on Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating for the company in a research report on Friday, February 7th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $269.92.

Insider Activity at Laboratory Co. of America

In other news, CMO Amy B. Summy sold 226 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $250.40, for a total value of $56,590.40. Following the sale, the chief marketing officer now directly owns 4,544 shares in the company, valued at $1,137,817.60. The trade was a 4.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Adam H. Schechter sold 6,121 shares of Laboratory Co. of America stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $244.62, for a total value of $1,497,319.02. Following the completion of the sale, the chief executive officer now directly owns 86,445 shares in the company, valued at approximately $21,146,175.90. This represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 14,500 shares of company stock worth $3,577,572. 0.85% of the stock is owned by company insiders.

Laboratory Co. of America Stock Down 0.8 %

Shares of NYSE LH opened at $229.75 on Friday. The firm has a 50 day moving average price of $244.80 and a 200 day moving average price of $234.58. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44. The stock has a market cap of $19.23 billion, a P/E ratio of 26.05, a P/E/G ratio of 1.71 and a beta of 1.12. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $258.59.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, beating analysts’ consensus estimates of $3.40 by $0.05. Laboratory Co. of America had a net margin of 5.73% and a return on equity of 15.29%. Analysts expect that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th were issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend was Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 32.65%.

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.