USS Investment Management Ltd Trims Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

USS Investment Management Ltd trimmed its position in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 24.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,440 shares of the medical research company's stock after selling 4,357 shares during the quarter. USS Investment Management Ltd's holdings in Laboratory Co. of America were worth $3,083,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Worldquant Millennium Advisors LLC boosted its stake in Laboratory Co. of America by 689.4% during the fourth quarter. Worldquant Millennium Advisors LLC now owns 42,328 shares of the medical research company's stock worth $9,707,000 after buying an additional 36,966 shares during the period. Woodline Partners LP grew its stake in shares of Laboratory Co. of America by 18.1% during the fourth quarter. Woodline Partners LP now owns 141,995 shares of the medical research company's stock valued at $32,562,000 after buying an additional 21,734 shares during the last quarter. Tidal Investments LLC grew its stake in shares of Laboratory Co. of America by 53.0% during the fourth quarter. Tidal Investments LLC now owns 5,473 shares of the medical research company's stock valued at $1,255,000 after buying an additional 1,895 shares during the last quarter. Select Equity Group L.P. grew its stake in shares of Laboratory Co. of America by 150.9% during the fourth quarter. Select Equity Group L.P. now owns 1,595,957 shares of the medical research company's stock valued at $365,985,000 after buying an additional 959,981 shares during the last quarter. Finally, Rafferty Asset Management LLC grew its stake in shares of Laboratory Co. of America by 11.4% during 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 buying an additional 974 shares during the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO Mark S. Schroeder sold 5,339 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were 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 in the company, valued at approximately $1,236,180.80. This represents a 51.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kerrii B. Anderson sold 500 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $255.63, for a total transaction of $127,815.00. Following the transaction, the director now directly owns 13,166 shares of the company's stock, valued at $3,365,624.58. This represents a 3.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,431 shares of company stock worth $3,806,274. Insiders own 0.84% of the company's stock.

Laboratory Co. of America Stock Up 2.2%

NYSE LH traded up $5.27 during midday trading on Tuesday, hitting $247.80. 665,226 shares of the company traded hands, compared to its average volume of 642,071. 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 company has a market cap of $20.74 billion, a PE ratio of 28.09, a price-to-earnings-growth ratio of 1.71 and a beta of 0.82. The company's 50-day simple moving average is $234.31 and its 200-day simple moving average is $238.19. Laboratory Co. of America Holdings has a 52 week low of $191.97 and a 52 week high of $258.59.

Laboratory Co. of America (NYSE:LH - Get Free Report) last announced its earnings results on Tuesday, April 29th. The medical research company reported $3.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.73 by $0.11. The business had revenue of $3.35 billion for 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 business's revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the firm earned $3.68 EPS. As a group, equities research analysts forecast that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders 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 dividend payout ratio is presently 33.29%.

Analysts Set New Price Targets

LH has been the topic of a number of analyst reports. Barclays upped their target price on Laboratory Co. of America from $240.00 to $250.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 30th. Piper Sandler reaffirmed a "neutral" rating and set a $280.00 target price (up previously from $260.00) on shares of Laboratory Co. of America in a research note on Tuesday, May 6th. Robert W. Baird upped 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. Wall Street Zen cut Laboratory Co. of America from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. Finally, Redburn Atlantic initiated coverage on Laboratory Co. of America in a research note on Wednesday, April 2nd. They issued a "buy" rating and a $276.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $270.62.

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.