Laboratory Co. of America Holdings (NYSE:LH) Shares Purchased by Ethic Inc.

Ethic Inc. raised its stake in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 79.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,551 shares of the medical research company's stock after buying an additional 1,132 shares during the period. Ethic Inc.'s holdings in Laboratory Co. of America were worth $585,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Capital City Trust Co. FL grew its stake in Laboratory Co. of America by 1.5% in the 4th quarter. Capital City Trust Co. FL now owns 15,553 shares of the medical research company's stock valued at $3,567,000 after acquiring an additional 223 shares during the last quarter. Wealthcare Advisory Partners LLC lifted its holdings in shares of Laboratory Co. of America by 23.9% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 2,543 shares of the medical research company's stock valued at $583,000 after purchasing an additional 490 shares in the last quarter. Bryn Mawr Capital Management LLC grew its position in shares of Laboratory Co. of America by 51.2% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 1,495 shares of the medical research company's stock valued at $343,000 after purchasing an additional 506 shares during the last quarter. Barclays PLC increased its stake in shares of Laboratory Co. of America by 11.8% during the 3rd quarter. Barclays PLC now owns 620,721 shares of the medical research company's stock worth $138,718,000 after purchasing an additional 65,356 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Laboratory Co. of America by 28.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,394 shares of the medical research company's stock worth $2,162,000 after purchasing an additional 2,081 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Laboratory Co. of America

In other Laboratory Co. of America news, 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 value of $1,518,496.65. Following the transaction, the chief executive officer now directly owns 98,962 shares of the company's stock, valued at $24,614,818.26. This represents a 5.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kerrii B. Anderson sold 500 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $255.63, for a total value of $127,815.00. Following the transaction, the director now owns 13,166 shares of the company's stock, valued at approximately $3,365,624.58. This trade represents a 3.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,971 shares of company stock valued at $4,193,073. Corporate insiders own 0.84% of the company's stock.

Laboratory Co. of America Trading Down 2.7%

Shares of LH stock traded down $6.85 on Wednesday, reaching $243.96. 150,714 shares of the stock were exchanged, compared to its average volume of 640,588. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67. The stock has a market cap of $20.42 billion, a P/E ratio of 27.68, a price-to-earnings-growth ratio of 1.71 and a beta of 0.82. The firm has a 50 day moving average of $234.13 and a two-hundred day moving average of $237.95. 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 released its quarterly earnings data on Tuesday, April 29th. The medical research company reported $3.84 EPS for the quarter, topping analysts' consensus estimates of $3.73 by $0.11. Laboratory Co. of America had a return on equity of 15.29% and a net margin of 5.73%. The company had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.41 billion. During the same period last year, the business posted $3.68 EPS. The company's quarterly revenue 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 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Thursday, May 29th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.18%. Laboratory Co. of America's dividend payout ratio is currently 33.29%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on LH shares. Truist Financial raised their price target on Laboratory Co. of America from $274.00 to $290.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. UBS Group decreased 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. StockNews.com cut Laboratory Co. of America from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. Citigroup upgraded shares of Laboratory Co. of America from a "neutral" rating to a "buy" rating and upped their target price for the company from $250.00 to $300.00 in a report on Tuesday, March 4th. Finally, Barclays raised 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. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Laboratory Co. of America has an average rating of "Moderate Buy" and an average target price of $270.62.

About Laboratory Co. of America

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