Cetera Investment Advisers Has $3.77 Million Stock Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Cetera Investment Advisers boosted its position in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 8.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 16,453 shares of the medical research company's stock after acquiring an additional 1,302 shares during the period. Cetera Investment Advisers' holdings in Laboratory Co. of America were worth $3,773,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LH. Empowered Funds LLC lifted its holdings in shares of Laboratory Co. of America by 0.5% during the 4th quarter. Empowered Funds LLC now owns 8,025 shares of the medical research company's stock valued at $1,840,000 after acquiring an additional 43 shares in the last quarter. SP Asset Management LLC lifted its holdings in shares of Laboratory Co. of America by 0.3% during the 4th quarter. SP Asset Management LLC now owns 15,186 shares of the medical research company's stock valued at $3,483,000 after acquiring an additional 43 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of Laboratory Co. of America by 0.4% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 12,780 shares of the medical research company's stock valued at $2,931,000 after acquiring an additional 45 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of Laboratory Co. of America by 0.6% during the 4th 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 lifted its holdings in shares of Laboratory Co. of America by 16.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 354 shares of the medical research company's stock valued at $81,000 after acquiring an additional 50 shares in the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Laboratory Co. of America Stock Down 3.4%

LH stock traded down $8.57 during midday trading on Wednesday, reaching $242.24. The company had a trading volume of 105,438 shares, compared to its average volume of 640,425. The company has a market capitalization of $20.28 billion, a P/E ratio of 27.49, a PEG ratio of 1.71 and a beta of 0.82. The company has a 50 day moving average of $234.13 and a two-hundred day moving average of $237.95. 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 1 year low of $191.97 and a 1 year high of $258.59.

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 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.73 by $0.11. The company had revenue of $3.35 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the business posted $3.68 EPS. On average, equities research analysts expect 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 announced a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Thursday, May 29th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.19%. Laboratory Co. of America's dividend payout ratio (DPR) is presently 33.29%.

Insider Buying and Selling

In other news, CMO Amy B. Summy sold 226 shares of the business's stock in a transaction that occurred 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 completion of the transaction, 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 can be accessed through this hyperlink. Also, CEO Adam H. Schechter sold 6,105 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $248.73, for a total transaction of $1,518,496.65. Following the transaction, the chief executive officer now owns 98,962 shares of the company's stock, valued at approximately $24,614,818.26. This represents 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.

Analyst Ratings Changes

Several equities analysts recently weighed in on LH shares. Robert W. Baird lifted their target price on shares of Laboratory Co. of America from $253.00 to $267.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Redburn Atlantic initiated coverage on shares of Laboratory Co. of America in a research note on Wednesday, April 2nd. They set a "buy" rating and a $276.00 price target on the stock. Piper Sandler reaffirmed a "neutral" rating and set a $280.00 price target (up previously from $260.00) on shares of Laboratory Co. of America in a research note on Tuesday, May 6th. Barclays lifted their price target on shares of Laboratory Co. of America from $240.00 to $250.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 30th. Finally, UBS Group dropped their price target on shares of 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. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $270.62.

Laboratory Co. of America Profile

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.