Laboratory Co. of America Holdings (NYSE:LH) Shares Bought by Forum Financial Management LP

Forum Financial Management LP raised its holdings in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 93.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,461 shares of the medical research company's stock after buying an additional 1,192 shares during the period. Forum Financial Management LP's holdings in Laboratory Co. of America were worth $564,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LH. GF Fund Management CO. LTD. purchased a new position in shares of Laboratory Co. of America during the fourth quarter worth about $481,000. Vega Investment Solutions purchased a new position in shares of Laboratory Co. of America during the fourth quarter worth about $909,000. Burgundy Asset Management Ltd. grew its holdings in shares of Laboratory Co. of America by 2.5% during the fourth quarter. Burgundy Asset Management Ltd. now owns 88,895 shares of the medical research company's stock worth $20,385,000 after purchasing an additional 2,138 shares during the last quarter. Vise Technologies Inc. purchased a new position in shares of Laboratory Co. of America during the fourth quarter worth about $291,000. Finally, Connecticut Wealth Management LLC grew its holdings in shares of Laboratory Co. of America by 3.0% during the fourth quarter. Connecticut Wealth Management LLC now owns 2,879 shares of the medical research company's stock worth $660,000 after purchasing an additional 84 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Laboratory Co. of America Price Performance

Shares of NYSE:LH traded down $0.80 during trading on Wednesday, hitting $246.89. 519,304 shares of the stock were exchanged, compared to its average volume of 641,174. The company has a fifty day moving average price of $234.55 and a two-hundred day moving average price of $238.26. The company has a market cap of $20.66 billion, a PE ratio of 27.99, a P/E/G ratio of 1.71 and a beta of 0.82. 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 12-month low of $191.97 and a 12-month high of $258.59.

Laboratory Co. of America (NYSE:LH - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The medical research company reported $3.84 EPS for the quarter, topping the consensus estimate of $3.73 by $0.11. The business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.41 billion. Laboratory Co. of America had a return on equity of 15.29% and a net margin of 5.73%. The company's quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.68 EPS. On average, analysts forecast 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 declared 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 annualized dividend and a dividend yield of 1.17%. Laboratory Co. of America's dividend payout ratio (DPR) is 33.29%.

Analyst Upgrades and Downgrades

LH has been the topic of several research reports. Citigroup raised Laboratory Co. of America from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $250.00 to $300.00 in a report on Tuesday, March 4th. Jefferies Financial Group raised their price target on Laboratory Co. of America from $275.00 to $290.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Barclays raised their price target on Laboratory Co. of America from $240.00 to $250.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 30th. 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 report on Monday, May 12th. Finally, Robert W. Baird raised their price target on Laboratory Co. of America from $253.00 to $267.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $270.62.

Insider Transactions at Laboratory Co. of America

In related news, CEO Adam H. Schechter sold 6,105 shares of Laboratory Co. of America 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 completion of the transaction, the chief executive officer now directly owns 98,962 shares in the company, valued at $24,614,818.26. The trade was a 5.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Mark S. Schroeder sold 5,339 shares of Laboratory Co. of America stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $249.23, for a total value of $1,330,638.97. Following the transaction, the chief operating officer now owns 4,960 shares of the company's stock, valued at $1,236,180.80. This represents a 51.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,431 shares of company stock valued at $3,806,274 in the last quarter. 0.84% of the stock is currently owned by corporate insiders.

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.