Hillsdale Investment Management Inc. Sells 700 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Hillsdale Investment Management Inc. trimmed its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 22.1% in the fourth quarter, Holdings Channel reports. The fund owned 2,465 shares of the medical research company’s stock after selling 700 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Laboratory Co. of America were worth $565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mutual of America Capital Management LLC bought a new position in Laboratory Co. of America during the third quarter worth $2,316,000. Pathstone Holdings LLC raised its position in shares of Laboratory Co. of America by 124.5% during the third quarter. Pathstone Holdings LLC now owns 10,165 shares of the medical research company’s stock valued at $2,272,000 after buying an additional 5,637 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Laboratory Co. of America in the third quarter valued at about $2,991,000. Intech Investment Management LLC grew its position in Laboratory Co. of America by 8.5% during the third quarter. Intech Investment Management LLC now owns 5,263 shares of the medical research company’s stock worth $1,176,000 after buying an additional 412 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Laboratory Co. of America by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 549,386 shares of the medical research company’s stock valued at $122,777,000 after acquiring an additional 12,145 shares during the period. 95.94% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Kerrii B. Anderson sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total transaction of $235,000.00. Following the completion of the sale, the director now directly owns 12,722 shares of the company’s stock, valued at $2,989,670. The trade was a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Der Vaart Sandra D. Van sold 1,314 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $251.30, for a total transaction of $330,208.20. Following the completion of the transaction, the executive vice president now directly owns 2,171 shares in the company, valued at approximately $545,572.30. The trade was a 37.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,500 shares of company stock valued at $3,577,572. 0.85% of the stock is currently owned by corporate insiders.

Laboratory Co. of America Trading Up 0.9 %

LH stock opened at $236.25 on Tuesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30. The stock has a market capitalization of $19.77 billion, a price-to-earnings ratio of 26.79, a P/E/G ratio of 1.71 and a beta of 1.12. The business has a fifty day moving average price of $245.21 and a 200 day moving average price of $234.42. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $258.59.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) for the quarter, topping 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%. Analysts expect that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Thursday, February 27th were given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.22%. The ex-dividend date was Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 32.65%.

Analyst Ratings Changes

Several brokerages have recently weighed in on LH. Evercore ISI raised Laboratory Co. of America from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $260.00 to $265.00 in a report on Tuesday, January 7th. Jefferies Financial Group boosted their price target on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Citigroup raised shares of Laboratory Co. of America from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $250.00 to $300.00 in a report on Tuesday, March 4th. StockNews.com raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Finally, Piper Sandler lifted their price objective on Laboratory Co. of America from $240.00 to $260.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $268.38.

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.