State of Wyoming Reduces Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

State of Wyoming decreased its position in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 82.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 363 shares of the medical research company's stock after selling 1,677 shares during the period. State of Wyoming's holdings in Laboratory Co. of America were worth $83,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Graney & King LLC acquired a new stake in shares of Laboratory Co. of America during the fourth quarter valued at $26,000. Geneos Wealth Management Inc. boosted its stake in shares of Laboratory Co. of America by 309.8% during the fourth 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 during the last quarter. Human Investing LLC acquired a new stake in shares of Laboratory Co. of America during the fourth quarter valued at $39,000. Heck Capital Advisors LLC acquired a new stake in shares of Laboratory Co. of America during the fourth quarter valued at $44,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Laboratory Co. of America during the fourth quarter valued at $52,000. Institutional investors and hedge funds own 95.94% of the company's stock.

Laboratory Co. of America Trading Up 0.8%

Shares of Laboratory Co. of America 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 firm has a 50 day simple moving average of $235.32 and a two-hundred day simple moving average of $238.36. The firm has a market capitalization 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 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 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. The company had revenue of $3.35 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the business posted $3.68 EPS. As a group, equities research analysts anticipate that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

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

Insider Activity at Laboratory Co. of America

In related 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 sale, the executive vice president now directly owns 5,302 shares in the company, valued at approximately $1,228,314.34. This trade represents a 12.51% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kerrii B. Anderson sold 500 shares of the firm's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $255.63, for a total value of $127,815.00. Following the sale, the director now owns 13,166 shares in the company, valued at approximately $3,365,624.58. The trade was a 3.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,092 shares of company stock worth $2,475,635. 0.84% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Piper Sandler reiterated a "neutral" rating and set a $280.00 target price (up from $260.00) on shares of Laboratory Co. of America in a research report on Tuesday, May 6th. Jefferies Financial Group increased their target price on Laboratory Co. of America from $275.00 to $290.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Redburn Atlantic assumed coverage on Laboratory Co. of America in a research report on Wednesday, April 2nd. They set a "buy" rating and a $276.00 target price on the stock. Wall Street Zen downgraded Laboratory Co. of America from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. Finally, Robert W. Baird increased their target price on Laboratory Co. of America from $253.00 to $267.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $272.92.

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.