Quantinno Capital Management LP Acquires 3,656 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Quantinno Capital Management LP lifted its stake in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 114.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,850 shares of the medical research company's stock after buying an additional 3,656 shares during the quarter. Quantinno Capital Management LP's holdings in Laboratory Co. of America were worth $1,571,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Laboratory Co. of America during the 4th quarter valued at $239,811,000. Amundi boosted its stake in Laboratory Co. of America by 344.9% during 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 in the last quarter. Madison Investment Advisors LLC purchased a new stake in Laboratory Co. of America in the fourth quarter worth about $123,415,000. Alliancebernstein L.P. increased its stake in shares of Laboratory Co. of America by 59.4% during the fourth quarter. Alliancebernstein L.P. now owns 1,021,104 shares of the medical research company's stock valued at $234,160,000 after purchasing an additional 380,624 shares in the last quarter. Finally, Freestone Grove Partners LP purchased a new position in shares of Laboratory Co. of America during the fourth quarter valued at approximately $48,693,000. 95.94% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on LH shares. UBS Group lowered their price target on Laboratory Co. of America from $293.00 to $286.00 and set a "buy" rating for the company in a research report on Tuesday, January 28th. Redburn Atlantic assumed coverage on shares of Laboratory Co. of America in a research report on Wednesday, April 2nd. They set a "buy" rating and a $276.00 price target for the company. Truist Financial increased their price target on shares of 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. Piper Sandler reissued a "neutral" rating and set a $280.00 price objective (up previously from $260.00) on shares of Laboratory Co. of America in a research report on Tuesday, May 6th. Finally, Jefferies Financial Group upped their price target 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. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $270.62.

Insider Transactions at Laboratory Co. of America

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,105 shares of Laboratory Co. of America stock in a transaction on Monday, May 12th. The shares were sold at an average price of $248.73, for a total transaction of $1,518,496.65. Following the completion of the transaction, the chief executive officer now directly owns 98,962 shares of the company's stock, valued at $24,614,818.26. The trade was a 5.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kerrii B. Anderson sold 500 shares of the 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 completion of the sale, the director now directly owns 13,166 shares in the company, valued at approximately $3,365,624.58. This represents a 3.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,431 shares of company stock valued at $3,806,274 in the last ninety days. Corporate insiders own 0.84% of the company's stock.

Laboratory Co. of America Price Performance

Shares of NYSE:LH traded down $0.28 during midday trading on Wednesday, reaching $247.41. 76,086 shares of the company were exchanged, compared to its average volume of 639,856. The stock has a market cap of $20.71 billion, a PE ratio of 28.06, a price-to-earnings-growth ratio of 1.71 and a beta of 0.82. The business's fifty day moving average is $234.55 and its two-hundred day moving average is $238.26. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year high of $258.59. 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 (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, beating 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 during the quarter, compared to the consensus estimate of $3.41 billion. During the same quarter in the prior year, the firm earned $3.68 EPS. The business's revenue was up 5.3% on a year-over-year basis. As a group, analysts predict that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders 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 yield of 1.16%. Laboratory Co. of America's payout ratio is 33.29%.

About Laboratory Co. of America

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.