Laboratory Co. of America Holdings (NYSE:LH) Shares Purchased by Ethic Inc.

Ethic Inc. lifted its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 79.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,551 shares of the medical research company’s stock after acquiring an additional 1,132 shares during the period. Ethic Inc.’s holdings in Laboratory Co. of America were worth $585,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Capital City Trust Co. FL boosted its holdings in Laboratory Co. of America by 1.5% in the fourth quarter. Capital City Trust Co. FL now owns 15,553 shares of the medical research company’s stock valued at $3,567,000 after acquiring an additional 223 shares during the last quarter. Wealthcare Advisory Partners LLC increased its holdings in Laboratory Co. of America by 23.9% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 2,543 shares of the medical research company’s stock valued at $583,000 after buying an additional 490 shares during the last quarter. Bryn Mawr Capital Management LLC increased its holdings in Laboratory Co. of America by 51.2% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 1,495 shares of the medical research company’s stock valued at $343,000 after buying an additional 506 shares during the last quarter. Barclays PLC grew its holdings in shares of Laboratory Co. of America by 11.8% during the third quarter. Barclays PLC now owns 620,721 shares of the medical research company’s stock valued at $138,718,000 after purchasing an additional 65,356 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Laboratory Co. of America by 28.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,394 shares of the medical research company’s stock valued at $2,162,000 after purchasing an additional 2,081 shares during the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LH. Piper Sandler reiterated a “neutral” rating and set a $280.00 price objective (up from $260.00) on shares of Laboratory Co. of America in a research report on Tuesday, May 6th. UBS Group dropped their price target on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Jefferies Financial Group upped their price target on Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Truist Financial boosted their target price on shares of Laboratory Co. of America from $274.00 to $290.00 and gave the company a “buy” rating in a research note on Monday. Finally, StockNews.com downgraded shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, April 18th. Four research 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. Based on data from MarketBeat, Laboratory Co. of America currently has an average rating of “Moderate Buy” and an average target price of $270.62.

Laboratory Co. of America Price Performance

LH opened at $246.18 on Friday. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year high of $258.59. 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 company’s 50 day simple moving average is $233.37 and its 200-day simple moving average is $237.44. The stock has a market capitalization of $20.61 billion, a P/E ratio of 27.91, a price-to-earnings-growth ratio of 1.71 and a beta of 0.82.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings data on Tuesday, April 29th. The medical research company reported $3.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.73 by $0.11. The firm had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.41 billion. Laboratory Co. of America had a net margin of 5.73% and a return on equity of 15.29%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the firm earned $3.68 earnings per share. Sell-side analysts anticipate that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders 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 dividend yield of 1.17%. Laboratory Co. of America’s dividend payout ratio is 33.29%.

Insider Buying and Selling

In other Laboratory Co. of America news, CMO Amy B. Summy sold 226 shares of Laboratory Co. of America stock in a transaction on Monday, February 24th. The shares were 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 approximately $1,137,817.60. The trade was a 4.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Adam H. Schechter sold 6,105 shares of Laboratory Co. of America stock in a transaction on Monday, May 12th. The shares were sold at an average price of $248.73, for a total transaction of $1,518,496.65. Following the completion of the sale, the chief executive officer now owns 98,962 shares in the company, valued at $24,614,818.26. The trade was a 5.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,971 shares of company stock worth $4,193,073 over the last ninety days. Company insiders own 0.84% of the company’s stock.

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.