Earnest Partners LLC trimmed its stake in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 2.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 338,725 shares of the medical research company's stock after selling 8,355 shares during the quarter. Earnest Partners LLC owned approximately 0.40% of Laboratory Co. of America worth $77,676,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC grew its position in Laboratory Co. of America by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 2,003,998 shares of the medical research company's stock valued at $458,334,000 after purchasing an additional 39,255 shares during the last quarter. JPMorgan Chase & Co. grew its position in Laboratory Co. of America by 9.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company's stock valued at $431,405,000 after purchasing an additional 167,137 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Laboratory Co. of America by 2.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,916,505 shares of the medical research company's stock valued at $437,357,000 after purchasing an additional 51,045 shares during the last quarter. Bank of New York Mellon Corp grew its position in Laboratory Co. of America by 2.4% during the 4th quarter. Bank of New York Mellon Corp now owns 1,822,964 shares of the medical research company's stock valued at $418,042,000 after purchasing an additional 41,898 shares during the last quarter. Finally, FMR LLC grew its position in Laboratory Co. of America by 2.2% during the 4th quarter. FMR LLC now owns 1,620,826 shares of the medical research company's stock valued at $371,688,000 after purchasing an additional 34,429 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors.
Insider Activity at Laboratory Co. of America
In other Laboratory Co. of America news, EVP Amy B. Summy sold 758 shares of the firm's stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $231.67, for a total transaction of $175,605.86. Following the transaction, the executive vice president now directly owns 5,302 shares in the company, valued at $1,228,314.34. This trade represents a 12.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Adam H. Schechter sold 6,121 shares of the firm's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $244.62, for a total value of $1,497,319.02. Following the completion of the transaction, the chief executive officer now directly owns 86,445 shares of the company's stock, valued at approximately $21,146,175.90. This trade represents a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,258 shares of company stock worth $3,518,177 in the last three months. 0.84% of the stock is owned by company insiders.
Analyst Ratings Changes
A number of brokerages have recently issued reports on LH. Piper Sandler raised their price target on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the company a "neutral" rating in a report on Monday, February 10th. Citigroup upgraded shares of Laboratory Co. of America from a "neutral" rating to a "buy" rating and raised their target price for the stock from $250.00 to $300.00 in a research note on Tuesday, March 4th. Truist Financial decreased their target price on shares of Laboratory Co. of America from $285.00 to $274.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Jefferies Financial Group increased their price objective on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Finally, Robert W. Baird increased 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 report on Wednesday. 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. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $267.85.
Read Our Latest Stock Analysis on Laboratory Co. of America
Laboratory Co. of America Trading Up 0.1 %
NYSE LH traded up $0.25 during mid-day trading on Thursday, reaching $241.26. 837,261 shares of the stock were exchanged, compared to its average volume of 637,793. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $258.59. The business's fifty day simple moving average is $234.59 and its 200 day simple moving average is $235.45. The stock has a market capitalization of $20.19 billion, a PE ratio of 27.35, a PEG ratio of 1.71 and a beta of 0.99. 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 issued its 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. 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 quarter last year, the firm posted $3.68 EPS. The business's revenue for the quarter was up 5.3% compared to the same quarter last year. On average, research analysts anticipate 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Thursday, May 29th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.19%. Laboratory Co. of America's dividend payout ratio (DPR) is presently 32.65%.
Laboratory Co. of America Company Profile
(
Free Report)
Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.
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