Huntington National Bank Has $289,000 Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Huntington National Bank raised its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 12.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,261 shares of the medical research company’s stock after buying an additional 140 shares during the period. Huntington National Bank’s holdings in Laboratory Co. of America were worth $289,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LH. Headlands Technologies LLC bought a new stake in shares of Laboratory Co. of America in the 4th quarter worth $191,000. Geode Capital Management LLC grew its position in Laboratory Co. of America by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 2,003,998 shares of the medical research company’s stock worth $458,334,000 after purchasing an additional 39,255 shares in the last quarter. Tradewinds LLC. purchased a new stake in Laboratory Co. of America in the 4th quarter valued at about $244,000. National Bank of Canada FI lifted its position in shares of Laboratory Co. of America by 301.5% during the 4th quarter. National Bank of Canada FI now owns 39,171 shares of the medical research company’s stock worth $8,983,000 after buying an additional 29,414 shares in the last quarter. Finally, HighPoint Advisor Group LLC boosted its stake in shares of Laboratory Co. of America by 8.6% in the 4th quarter. HighPoint Advisor Group LLC now owns 1,408 shares of the medical research company’s stock worth $345,000 after buying an additional 112 shares during the last quarter. 95.94% of the stock is owned by institutional investors.

Laboratory Co. of America Stock Down 4.7 %

Laboratory Co. of America stock opened at $222.49 on Friday. The firm has a 50 day simple moving average of $243.63 and a 200 day simple moving average of $234.84. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $258.59. The firm has a market capitalization of $18.62 billion, a price-to-earnings ratio of 25.23, a P/E/G ratio of 1.71 and a beta of 1.12.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share for the quarter, beating the consensus estimate of $3.40 by $0.05. Laboratory Co. of America had a return on equity of 15.29% and a net margin of 5.73%. On average, 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 company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th were given a $0.72 dividend. The ex-dividend date was Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.29%. Laboratory Co. of America’s dividend payout ratio (DPR) is currently 32.65%.

Insider Activity at Laboratory Co. of America

In related news, CEO Adam H. Schechter sold 6,121 shares of Laboratory Co. of America stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $244.62, for a total transaction of $1,497,319.02. Following the completion of the sale, the chief executive officer now owns 86,445 shares of the company’s stock, valued at approximately $21,146,175.90. This trade represents a 6.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Amy B. Summy sold 758 shares of the company’s stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $231.67, for a total value of $175,605.86. Following the completion of the transaction, the executive vice president now owns 5,302 shares in the company, valued at $1,228,314.34. This represents a 12.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,258 shares of company stock valued at $3,753,177. Corporate insiders own 0.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LH. UBS Group decreased their price target on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Morgan Stanley raised their target price on Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Redburn Atlantic began coverage on Laboratory Co. of America in a research note on Wednesday. They set a “buy” rating and a $276.00 target price on the stock. Evercore ISI upgraded shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $260.00 to $265.00 in a report on Tuesday, January 7th. Finally, Jefferies Financial Group boosted their target price on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $270.38.

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.