Mackenzie Financial Corp Has $2.61 Million Stock Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Mackenzie Financial Corp decreased its position in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 11.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,390 shares of the medical research company's stock after selling 1,405 shares during the period. Mackenzie Financial Corp's holdings in Laboratory Co. of America were worth $2,612,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital City Trust Co. FL increased its stake in Laboratory Co. of America by 1.5% during the 4th quarter. Capital City Trust Co. FL now owns 15,553 shares of the medical research company's stock worth $3,567,000 after purchasing an additional 223 shares in the last quarter. Bryn Mawr Capital Management LLC boosted its holdings in shares of Laboratory Co. of America by 51.2% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 1,495 shares of the medical research company's stock valued at $343,000 after buying an additional 506 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Laboratory Co. of America by 28.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,394 shares of the medical research company's stock worth $2,162,000 after acquiring an additional 2,081 shares in the last quarter. Manning & Napier Advisors LLC raised its holdings in shares of Laboratory Co. of America by 84.5% during the fourth quarter. Manning & Napier Advisors LLC now owns 12,099 shares of the medical research company's stock worth $2,775,000 after acquiring an additional 5,543 shares during the period. Finally, Busey Bank lifted its position in Laboratory Co. of America by 1.9% in the 4th quarter. Busey Bank now owns 62,560 shares of the medical research company's stock valued at $14,346,000 after acquiring an additional 1,141 shares in the last quarter. Institutional investors and hedge funds own 95.94% of the company's stock.

Insider Activity

In other news, CAO Peter J. Wilkinson sold 829 shares of the firm's 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 completion of the sale, the chief accounting officer now directly owns 2,054 shares of the company's stock, valued at $497,602.04. This trade represents a 28.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Kerrii B. Anderson sold 500 shares of Laboratory Co. of America stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $255.63, for a total value of $127,815.00. Following the transaction, the director now 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 ninety days, insiders have sold 10,092 shares of company stock valued at $2,475,635. 0.84% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have issued reports on LH. Piper Sandler reiterated a "neutral" rating and set a $280.00 target price (up previously from $260.00) on shares of Laboratory Co. of America in a report on Tuesday, May 6th. Robert W. Baird upped their price objective 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. Jefferies Financial Group lifted their target price 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. 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, Barclays raised their price target on shares of Laboratory Co. of America from $240.00 to $250.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $272.92.

Laboratory Co. of America Stock Up 1.1%

Shares of NYSE:LH traded up $2.73 during trading on Tuesday, hitting $250.58. 684,371 shares of the company were exchanged, compared to its average volume of 635,776. Laboratory Co. of America Holdings has a fifty-two week low of $192.38 and a fifty-two week high of $258.59. The stock has a market cap of $20.97 billion, a price-to-earnings ratio of 28.41, 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. The firm has a fifty day moving average price of $235.99 and a two-hundred day moving average price of $238.48.

Laboratory Co. of America (NYSE:LH - Get Free Report) last issued its earnings results on Tuesday, April 29th. The medical research company reported $3.84 earnings per share for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $3.41 billion. During the same period in the previous year, the company earned $3.68 earnings per share. The firm's revenue for the quarter was up 5.3% on a year-over-year basis. As a group, research analysts anticipate that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 1.15%. Laboratory Co. of America's dividend payout ratio is presently 33.29%.

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.