Synovus Financial Corp Sells 88 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Synovus Financial Corp trimmed its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 6.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,340 shares of the medical research company’s stock after selling 88 shares during the period. Synovus Financial Corp’s holdings in Laboratory Co. of America were worth $307,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Graney & King LLC bought a new position in Laboratory Co. of America during the fourth quarter worth $26,000. Fortitude Family Office LLC lifted its stake in shares of Laboratory Co. of America by 312.5% during the 4th quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock worth $30,000 after buying an additional 100 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in Laboratory Co. of America by 309.8% in the 4th quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock valued at $39,000 after buying an additional 127 shares during the last quarter. Human Investing LLC acquired a new position in Laboratory Co. of America in the 4th quarter valued at about $39,000. Finally, Heck Capital Advisors LLC bought a new position in Laboratory Co. of America in the 4th quarter valued at about $44,000. 95.94% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Kerrii B. Anderson sold 500 shares of the stock in a transaction on 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 sale, the director now directly owns 13,166 shares in the company, valued at $3,365,624.58. This represents a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Amy B. Summy sold 758 shares of the firm’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of $231.67, for a total value of $175,605.86. Following the transaction, the executive vice president now directly owns 5,302 shares of the company’s stock, valued at approximately $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. Insiders sold a total of 14,258 shares of company stock valued at $3,518,177 in the last 90 days. Corporate insiders own 0.84% of the company’s stock.

Laboratory Co. of America Stock Down 1.5 %

Shares of NYSE LH opened at $217.25 on Friday. The stock has a 50-day moving average price of $238.10 and a two-hundred day moving average price of $234.75. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $258.59. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67. The company has a market cap of $18.18 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 1.71 and a beta of 0.99.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, beating the consensus estimate 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%. As a group, analysts forecast that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The company 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 dividend on an annualized basis and a yield of 1.33%. Laboratory Co. of America’s dividend payout ratio is currently 32.65%.

Analyst Ratings Changes

LH has been the topic of several research reports. Barclays decreased their target price on Laboratory Co. of America from $260.00 to $240.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 10th. Jefferies Financial Group increased their price objective on Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. UBS Group reduced their target price on shares of 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. Truist Financial dropped their price objective on shares of Laboratory Co. of America from $285.00 to $274.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Finally, Redburn Atlantic began coverage on shares of Laboratory Co. of America in a report on Wednesday, April 2nd. They set a “buy” rating and a $276.00 target price on the stock. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $268.77.

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.