Man Group plc Has $233,000 Stock Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Man Group plc decreased its stake in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 87.4% in the fourth 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 quarter. Man Group plc's holdings in Laboratory Co. of America were worth $233,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of LH. Graney & King LLC acquired a new stake in Laboratory Co. of America in the fourth quarter valued at approximately $26,000. Geneos Wealth Management Inc. raised its stake in shares of Laboratory Co. of America by 309.8% in the 4th quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company's stock valued at $39,000 after acquiring an additional 127 shares in the last quarter. Human Investing LLC acquired a new stake in Laboratory Co. of America in the 4th quarter worth approximately $39,000. Heck Capital Advisors LLC bought a new stake in Laboratory Co. of America during the fourth quarter worth approximately $44,000. Finally, SBI Securities Co. Ltd. acquired a new position in Laboratory Co. of America during the fourth quarter valued at approximately $52,000. Hedge funds and other institutional investors own 95.94% of the company's stock.

Laboratory Co. of America Price Performance

NYSE LH traded up $1.87 during trading on Friday, reaching $248.62. 1,185,977 shares of the company traded hands, compared to its average volume of 636,380. The stock's 50 day moving average price is $235.32 and its two-hundred day moving average price is $238.31. Laboratory Co. of America Holdings has a 1-year low of $192.38 and a 1-year high of $258.59. The company has a market cap of $20.81 billion, a price-to-earnings ratio of 28.19, a P/E/G ratio of 1.71 and a beta of 0.82. 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 released its quarterly earnings results on Tuesday, April 29th. The medical research company reported $3.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.73 by $0.11. The business had revenue of $3.35 billion during the quarter, compared to analysts' expectations of $3.41 billion. Laboratory Co. of America had a return on equity of 15.29% and a net margin of 5.73%. The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business posted $3.68 earnings per share. As a group, analysts anticipate that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Thursday, May 29th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.16%. Laboratory Co. of America's dividend payout ratio is presently 33.29%.

Analyst Upgrades and Downgrades

LH has been the topic of several recent analyst reports. 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. Wall Street Zen lowered Laboratory Co. of America from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. Robert W. Baird increased their target price on Laboratory Co. of America from $253.00 to $267.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Citigroup raised Laboratory Co. of America from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $250.00 to $300.00 in a research report on Tuesday, March 4th. Finally, Jefferies Financial Group increased their price objective on Laboratory Co. of America from $275.00 to $290.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Laboratory Co. of America has an average rating of "Moderate Buy" and an average price target of $272.92.

Insider Activity 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 dated Monday, May 12th. The shares were sold at an average price of $248.73, for a total transaction of $1,518,496.65. Following the completion of the sale, the chief executive officer now owns 98,962 shares of the company's stock, valued at approximately $24,614,818.26. The trade was a 5.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible 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 stock was sold at an average price of $242.26, for a total value of $200,833.54. Following the sale, the chief accounting officer now directly owns 2,054 shares of the company's stock, valued at approximately $497,602.04. The trade was a 28.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,092 shares of company stock worth $2,475,635. 0.84% of the stock is currently owned by company insiders.

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.