D. E. Shaw & Co. Inc. Has $12.79 Million Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

D. E. Shaw & Co. Inc. decreased its stake in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 9.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,768 shares of the medical research company's stock after selling 5,815 shares during the period. D. E. Shaw & Co. Inc. owned 0.07% of Laboratory Co. of America worth $12,789,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LH. Deutsche Bank AG lifted its position in Laboratory Co. of America by 2.0% during the 4th quarter. Deutsche Bank AG now owns 357,588 shares of the medical research company's stock valued at $82,002,000 after purchasing an additional 7,116 shares during the period. Colonial Trust Co SC lifted its position in Laboratory Co. of America by 3.2% during the 4th quarter. Colonial Trust Co SC now owns 1,722 shares of the medical research company's stock valued at $395,000 after purchasing an additional 53 shares during the period. Cetera Investment Advisers lifted its position in Laboratory Co. of America by 8.6% during the 4th quarter. Cetera Investment Advisers now owns 16,453 shares of the medical research company's stock valued at $3,773,000 after purchasing an additional 1,302 shares during the period. Cary Street Partners Financial LLC acquired a new position in Laboratory Co. of America during the 4th quarter valued at about $3,750,000. Finally, Caxton Associates LP acquired a new position in Laboratory Co. of America during the 4th quarter valued at about $303,000. Institutional investors and hedge funds own 95.94% of the company's stock.

Laboratory Co. of America Stock Up 1.4%

Shares of LH traded up $3.33 during mid-day trading on Friday, hitting $249.60. 560,711 shares of the company's stock were exchanged, compared to its average volume of 642,239. The company has a market cap of $20.89 billion, a PE ratio of 28.30, a P/E/G 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 has a 50-day simple moving average of $233.37 and a 200 day simple moving average of $237.44. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30.

Laboratory Co. of America (NYSE:LH - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The medical research company reported $3.84 earnings per share for the quarter, topping 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 company had revenue of $3.35 billion during the quarter, compared to analysts' expectations of $3.41 billion. During the same period last year, the business earned $3.68 EPS. The business's quarterly revenue was up 5.3% on a year-over-year basis. On average, research analysts forecast 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 announced a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Thursday, May 29th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.15%. Laboratory Co. of America's dividend payout ratio is presently 33.29%.

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 500 shares of Laboratory Co. of America stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $255.63, for a total transaction of $127,815.00. Following the completion of the transaction, the director now directly owns 13,166 shares of the company's stock, valued at $3,365,624.58. The trade was a 3.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CMO Amy B. Summy sold 226 shares of Laboratory Co. of America stock in a transaction on Monday, February 24th. The stock was sold at an average price of $250.40, for a total transaction of $56,590.40. Following the transaction, the chief marketing officer now directly owns 4,544 shares of the company's stock, valued at approximately $1,137,817.60. This trade represents a 4.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,971 shares of company stock valued at $4,193,073. 0.84% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Truist Financial upped 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 report on Monday. StockNews.com cut Laboratory Co. of America from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. Barclays upped their price target 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. UBS Group lowered their price target on Laboratory Co. of America from $293.00 to $286.00 and set a "buy" rating for the company in a research note on Tuesday, January 28th. Finally, Citigroup raised Laboratory Co. of America from a "neutral" rating to a "buy" rating and upped their price target for the company from $250.00 to $300.00 in a research note on Tuesday, March 4th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Laboratory Co. of America presently has a consensus rating of "Moderate Buy" and a consensus target price 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.