Alyeska Investment Group L.P. Lowers Stake in Laboratory Co. of America Holdings (NYSE:LH)

Alyeska Investment Group L.P. reduced its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 4.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 444,278 shares of the medical research company's stock after selling 21,059 shares during the period. Alyeska Investment Group L.P. owned 0.53% of Laboratory Co. of America worth $101,882,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Empowered Funds LLC boosted its position in shares of Laboratory Co. of America by 0.5% in the 4th quarter. Empowered Funds LLC now owns 8,025 shares of the medical research company's stock worth $1,840,000 after purchasing an additional 43 shares in the last quarter. SP Asset Management LLC boosted its holdings in Laboratory Co. of America by 0.3% in the fourth quarter. SP Asset Management LLC now owns 15,186 shares of the medical research company's stock worth $3,483,000 after acquiring an additional 43 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Laboratory Co. of America by 0.4% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 12,780 shares of the medical research company's stock worth $2,931,000 after acquiring an additional 45 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Laboratory Co. of America by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,194 shares of the medical research company's stock valued at $1,650,000 after acquiring an additional 46 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of Laboratory Co. of America by 16.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 354 shares of the medical research company's stock worth $81,000 after purchasing an additional 50 shares during the last quarter. Institutional investors own 95.94% of the company's stock.

Insider Transactions at Laboratory Co. of America

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,121 shares of the company's stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 86,445 shares in the company, valued at $21,146,175.90. This represents a 6.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Kerrii B. Anderson sold 500 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $255.63, for a total value of $127,815.00. Following the sale, the director now owns 13,166 shares in the company, valued at $3,365,624.58. The trade was a 3.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,987 shares of company stock valued at $4,171,895. 0.84% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on LH. Piper Sandler restated a "neutral" rating and set a $280.00 price objective (up from $260.00) on shares of Laboratory Co. of America in a research note on Tuesday. StockNews.com cut Laboratory Co. of America from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. Evercore ISI upgraded Laboratory Co. of America from an "in-line" rating to an "outperform" rating and increased their target price for the company from $260.00 to $265.00 in a research note on Tuesday, January 7th. Citigroup upgraded Laboratory Co. of America from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $250.00 to $300.00 in a research note on Tuesday, March 4th. Finally, Truist Financial dropped their price objective on Laboratory Co. of America from $285.00 to $274.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $269.38.

Laboratory Co. of America Stock Performance

Laboratory Co. of America stock traded down $2.71 during midday trading on Tuesday, hitting $244.11. The stock had a trading volume of 702,843 shares, compared to its average volume of 638,863. 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 52-week low of $191.97 and a 52-week high of $258.59. The company has a market capitalization of $20.42 billion, a PE ratio of 27.68, a P/E/G ratio of 1.71 and a beta of 0.82. The firm's fifty day moving average is $234.19 and its two-hundred day moving average is $236.33.

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

Laboratory Co. of America Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 1.18%. Laboratory Co. of America's payout ratio is currently 33.29%.

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.