Man Group plc Sells 7,046 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Man Group plc cut its stake in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 87.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,016 shares of the medical research company's stock after selling 7,046 shares during the period. Man Group plc's holdings in Laboratory Co. of America were worth $233,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Nomura Holdings Inc. acquired a new stake in shares of Laboratory Co. of America in the 4th quarter valued at about $632,000. Meridiem Capital Partners LP acquired a new stake in shares of Laboratory Co. of America in the fourth quarter valued at approximately $7,299,000. Lazard Asset Management LLC increased its stake in shares of Laboratory Co. of America by 13.6% in the fourth quarter. Lazard Asset Management LLC now owns 253,950 shares of the medical research company's stock valued at $58,234,000 after purchasing an additional 30,325 shares during the period. Jefferies Financial Group Inc. boosted its holdings in shares of Laboratory Co. of America by 156.9% in the fourth quarter. Jefferies Financial Group Inc. now owns 25,513 shares of the medical research company's stock valued at $5,851,000 after acquiring an additional 15,582 shares in the last quarter. Finally, Humankind Investments LLC boosted its holdings in shares of Laboratory Co. of America by 1.9% in the fourth quarter. Humankind Investments LLC now owns 6,095 shares of the medical research company's stock valued at $1,398,000 after acquiring an additional 115 shares in the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LH has been the subject of a number of recent analyst reports. Citigroup raised shares of 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 research note on Tuesday, March 4th. Truist Financial lifted 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 note on Monday, May 12th. Piper Sandler restated a "neutral" rating and set a $280.00 price target (up previously from $260.00) on shares of Laboratory Co. of America in a report on Tuesday, May 6th. Redburn Atlantic began coverage on shares of Laboratory Co. of America in a report on Wednesday, April 2nd. They set a "buy" rating and a $276.00 price target on the stock. Finally, Barclays lifted their target price on shares of 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. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $272.92.

Insider Transactions at Laboratory Co. of America

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,105 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were 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 trade represents a 5.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Peter J. Wilkinson sold 829 shares of Laboratory Co. of America stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $242.26, for a total transaction of $200,833.54. Following the sale, the chief accounting officer now directly owns 2,054 shares in the company, valued at $497,602.04. This trade represents a 28.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,092 shares of company stock worth $2,475,635. 0.84% of the stock is owned by insiders.

Laboratory Co. of America Stock Performance

LH stock traded up $1.87 during trading hours on Friday, reaching $248.62. The stock had a trading volume of 1,185,977 shares, compared to its average volume of 638,858. The stock has a market capitalization of $20.81 billion, a PE ratio of 28.19, a price-to-earnings-growth ratio of 1.71 and a beta of 0.82. 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 stock has a 50-day simple moving average of $235.32 and a 200 day simple moving average of $238.36. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week 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, beating analysts' consensus estimates of $3.73 by $0.11. The firm had revenue of $3.35 billion during the quarter, compared to analysts' expectations of $3.41 billion. Laboratory Co. of America had a net margin of 5.73% and a return on equity of 15.29%. The company's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter last year, the company posted $3.68 earnings per share. Analysts predict that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The business also recently announced 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 1.16%. Laboratory Co. of America's dividend payout ratio is presently 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.