State of Wyoming Has $83,000 Position in Laboratory Co. of America Holdings (NYSE:LH)

State of Wyoming cut its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 82.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 363 shares of the medical research company's stock after selling 1,677 shares during the quarter. State of Wyoming's holdings in Laboratory Co. of America were worth $83,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Select Equity Group L.P. increased its position in Laboratory Co. of America by 150.9% in the 4th quarter. Select Equity Group L.P. now owns 1,595,957 shares of the medical research company's stock worth $365,985,000 after purchasing an additional 959,981 shares during the last quarter. Rafferty Asset Management LLC lifted its stake in Laboratory Co. of America by 11.4% in the fourth quarter. Rafferty Asset Management LLC now owns 9,490 shares of the medical research company's stock valued at $2,176,000 after acquiring an additional 974 shares during the last quarter. ProShare Advisors LLC grew its position in Laboratory Co. of America by 11.8% in the fourth quarter. ProShare Advisors LLC now owns 12,672 shares of the medical research company's stock worth $2,906,000 after acquiring an additional 1,342 shares in the last quarter. Quantinno Capital Management LP raised its holdings in shares of Laboratory Co. of America by 114.5% during the 4th quarter. Quantinno Capital Management LP now owns 6,850 shares of the medical research company's stock valued at $1,571,000 after purchasing an additional 3,656 shares in the last quarter. Finally, Mufg Securities Americas Inc. acquired a new stake in shares of Laboratory Co. of America in the 4th quarter valued at $283,000. Hedge funds and other institutional investors own 95.94% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on LH shares. Redburn Atlantic assumed coverage on shares of Laboratory Co. of America in a research note on Wednesday, April 2nd. They issued a "buy" rating and a $276.00 price objective for the company. Citigroup raised Laboratory Co. of America from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $250.00 to $300.00 in a report on Tuesday, March 4th. Piper Sandler reissued a "neutral" rating and issued a $280.00 target price (up from $260.00) on shares of Laboratory Co. of America in a report on Tuesday, May 6th. Truist Financial raised their price target on shares of Laboratory Co. of America from $274.00 to $290.00 and gave the company a "buy" rating in a report on Monday, May 12th. Finally, Robert W. Baird raised their price objective on shares of 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 investment 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 stock. Based on data from MarketBeat, Laboratory Co. of America presently has a consensus rating of "Moderate Buy" and an average price target of $272.92.

Laboratory Co. of America Stock Performance

Shares of Laboratory Co. of America stock traded up $1.87 on Friday, hitting $248.62. The stock had a trading volume of 1,185,977 shares, compared to its average volume of 636,380. 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 business's 50 day moving average is $235.32 and its two-hundred day moving average is $238.31. Laboratory Co. of America Holdings has a twelve month low of $192.38 and a twelve month high of $258.59. The stock has a market cap of $20.81 billion, a price-to-earnings ratio of 28.19, a price-to-earnings-growth ratio of 1.71 and a beta of 0.82.

Laboratory Co. of America (NYSE:LH - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The medical research company reported $3.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.73 by $0.11. Laboratory Co. of America had a net margin of 5.73% and a return on equity of 15.29%. The business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.41 billion. During the same quarter last year, the business posted $3.68 EPS. The firm's revenue for the quarter was up 5.3% on a year-over-year basis. Analysts forecast that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Announces Dividend

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 $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.16%. Laboratory Co. of America's payout ratio is 33.29%.

Insider Activity at Laboratory Co. of America

In other news, Director Kerrii B. Anderson sold 500 shares of Laboratory Co. of America stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $255.63, for a total transaction of $127,815.00. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adam H. Schechter sold 6,105 shares of the firm'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 transaction of $1,518,496.65. Following the transaction, 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 disclosure for this sale can be found here. Insiders have sold a total of 10,092 shares of company stock valued at $2,475,635 in the last 90 days. 0.84% of the stock is 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.