AQR Capital Management LLC Sells 105,181 Shares of Laboratory Co. of America Holdings (NYSE:LH)

AQR Capital Management LLC trimmed its position in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 41.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 151,517 shares of the medical research company's stock after selling 105,181 shares during the quarter. AQR Capital Management LLC owned approximately 0.18% of Laboratory Co. of America worth $34,746,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Graney & King LLC bought a new stake in shares of Laboratory Co. of America in the fourth quarter worth $26,000. Fortitude Family Office LLC lifted its position in shares of Laboratory Co. of America by 312.5% in the fourth 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 in the last quarter. Geneos Wealth Management Inc. lifted its position in Laboratory Co. of America by 309.8% in the fourth quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company's stock worth $39,000 after buying an additional 127 shares during the last quarter. Human Investing LLC purchased a new stake in shares of Laboratory Co. of America in the fourth quarter worth approximately $39,000. Finally, Heck Capital Advisors LLC bought a new position in shares of Laboratory Co. of America in the fourth quarter worth about $44,000. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on LH. Evercore ISI upgraded shares of Laboratory Co. of America from an "in-line" rating to an "outperform" rating and boosted their target price for the company from $260.00 to $265.00 in a research report on Tuesday, January 7th. UBS Group reduced their price objective on Laboratory Co. of America from $293.00 to $286.00 and set a "buy" rating on the stock in a research note on Tuesday, January 28th. Jefferies Financial Group boosted their target price on Laboratory Co. of America from $275.00 to $290.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Barclays boosted their price objective on Laboratory Co. of America from $240.00 to $250.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 30th. Finally, Robert W. Baird boosted their price objective on shares of Laboratory Co. of America from $253.00 to $267.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Laboratory Co. of America presently has an average rating of "Moderate Buy" and a consensus price target of $269.38.

Insider Transactions at Laboratory Co. of America

In other Laboratory Co. of America news, CAO Peter J. Wilkinson sold 829 shares of Laboratory Co. of America stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $242.26, for a total value of $200,833.54. Following the transaction, the chief accounting officer now directly owns 2,054 shares in the company, valued at approximately $497,602.04. The trade was a 28.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 1,900 shares of the business's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $238.36, for a total transaction of $452,884.00. Following the completion of the sale, the executive vice president now owns 2,244 shares in the company, valued at $534,879.84. This represents a 45.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,987 shares of company stock valued at $4,171,895 over the last 90 days. Corporate insiders own 0.84% of the company's stock.

Laboratory Co. of America Price Performance

Laboratory Co. of America stock traded up $2.19 during midday trading on Wednesday, reaching $246.11. 726,771 shares of the stock were exchanged, compared to its average volume of 639,269. The firm has a market cap of $20.60 billion, a PE ratio of 27.90, a PEG ratio of 1.71 and a beta of 0.82. Laboratory Co. of America Holdings has a 52 week low of $191.97 and a 52 week high of $258.59. The company's fifty day moving average is $234.11 and its 200-day moving average is $236.38. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44.

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

Laboratory Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Thursday, May 29th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.17%. Laboratory Co. of America's payout ratio is 33.29%.

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.