MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 15,111 Shares of Laboratory Co. of America Holdings (NYSE:LH)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lessened its stake in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 44.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 19,249 shares of the medical research company's stock after selling 15,111 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Laboratory Co. of America were worth $4,414,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Norges Bank bought a new position in shares of Laboratory Co. of America in the fourth quarter worth about $239,811,000. Amundi boosted its stake in shares of Laboratory Co. of America by 344.9% in the fourth quarter. Amundi now owns 1,123,409 shares of the medical research company's stock worth $263,161,000 after acquiring an additional 870,903 shares during the period. Madison Investment Advisors LLC bought a new position in shares of Laboratory Co. of America in the fourth quarter worth about $123,415,000. Alliancebernstein L.P. boosted its stake in shares of Laboratory Co. of America by 59.4% in the fourth quarter. Alliancebernstein L.P. now owns 1,021,104 shares of the medical research company's stock worth $234,160,000 after acquiring an additional 380,624 shares during the period. Finally, Freestone Grove Partners LP bought a new position in shares of Laboratory Co. of America in the fourth quarter worth about $48,693,000. Institutional investors own 95.94% of the company's stock.

Insider Transactions at Laboratory Co. of America

In related news, CMO Amy B. Summy sold 226 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $250.40, for a total value of $56,590.40. Following the transaction, the chief marketing officer now owns 4,544 shares of the company's stock, valued at $1,137,817.60. This represents a 4.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Adam H. Schechter sold 6,105 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $248.73, for a total value of $1,518,496.65. Following the completion of the transaction, the chief executive officer now directly owns 98,962 shares in the company, valued at approximately $24,614,818.26. This trade represents a 5.81% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,971 shares of company stock worth $4,193,073. 0.84% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

LH has been the topic of a number of research analyst reports. StockNews.com downgraded Laboratory Co. of America from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. Citigroup upgraded Laboratory Co. of America from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $250.00 to $300.00 in a research report on Tuesday, March 4th. Jefferies Financial Group boosted 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. Truist Financial boosted their target price on Laboratory Co. of America from $274.00 to $290.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Finally, Barclays boosted their target price on Laboratory Co. of America from $240.00 to $250.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 30th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $270.62.

Laboratory Co. of America Trading Up 1.4%

Shares of NYSE LH opened at $249.60 on Monday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44. The business's 50 day moving average price is $233.57 and its 200-day moving average price is $237.71. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $258.59. The company has a market cap of $20.89 billion, a price-to-earnings ratio of 28.30, a PEG ratio of 1.71 and a beta of 0.82.

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

Laboratory Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Thursday, May 29th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.15%. Laboratory Co. of America's payout ratio is 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.

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