Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC decreased its holdings in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 67.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,746 shares of the medical research company's stock after selling 5,711 shares during the quarter. Cresset Asset Management LLC's holdings in Laboratory Co. of America were worth $630,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Empowered Funds LLC increased its holdings 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 valued at $1,840,000 after purchasing an additional 43 shares in the last quarter. SP Asset Management LLC boosted its position in shares of 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 during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in 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 valued at $2,931,000 after buying an additional 45 shares during the period. Oregon Public Employees Retirement Fund raised its stake 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 purchasing an additional 46 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its stake in shares of Laboratory Co. of America by 16.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 354 shares of the medical research company's stock valued at $81,000 after purchasing an additional 50 shares during the period. Hedge funds and other institutional investors own 95.94% of the company's stock.

Analyst Upgrades and Downgrades

LH has been the subject of a number of research reports. StockNews.com downgraded shares of Laboratory Co. of America from a "buy" rating to a "hold" rating in a report on Friday, April 18th. Jefferies Financial Group lifted their price target on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Redburn Atlantic started coverage on Laboratory Co. of America in a report on Wednesday, April 2nd. They set a "buy" rating and a $276.00 price objective on the stock. Citigroup upgraded Laboratory Co. of America from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $250.00 to $300.00 in a report on Tuesday, March 4th. Finally, UBS Group lowered 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. Four equities 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 stock. According to data from MarketBeat.com, Laboratory Co. of America currently has a consensus rating of "Moderate Buy" and an average target price of $270.62.

Insider Buying and Selling at Laboratory Co. of America

In related news, COO Mark S. Schroeder sold 5,339 shares of the firm's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $249.23, for a total transaction of $1,330,638.97. Following the sale, the chief operating officer now owns 4,960 shares of the company's stock, valued at $1,236,180.80. This trade represents a 51.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Peter J. Wilkinson sold 829 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $242.26, for a total value of $200,833.54. Following the completion of the sale, the chief accounting officer now directly owns 2,054 shares of the company's stock, valued at approximately $497,602.04. This represents a 28.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,971 shares of company stock worth $4,193,073 in the last three months. 0.84% of the stock is currently owned by company insiders.

Laboratory Co. of America Stock Up 1.4%

Shares of NYSE LH traded up $3.33 during trading on Friday, hitting $249.60. The stock had a trading volume of 560,711 shares, compared to its average volume of 642,239. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month 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 has a market capitalization of $20.89 billion, a PE ratio of 28.30, a PEG ratio of 1.71 and a beta of 0.82. The firm has a fifty day moving average of $233.37 and a two-hundred day moving average of $237.44.

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

Laboratory Co. of America Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 1.15%. 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.