Rhumbline Advisers Grows Stock Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Rhumbline Advisers raised its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 8.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 155,368 shares of the medical research company's stock after purchasing an additional 12,433 shares during the quarter. Rhumbline Advisers owned 0.19% of Laboratory Co. of America worth $36,160,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in LH. Empowered Funds LLC lifted its position in shares of Laboratory Co. of America by 0.5% in the 4th quarter. Empowered Funds LLC now owns 8,025 shares of the medical research company's stock worth $1,840,000 after purchasing an additional 43 shares during the period. SP Asset Management LLC boosted its holdings in shares of Laboratory Co. of America by 0.3% in the 4th quarter. SP Asset Management LLC now owns 15,186 shares of the medical research company's stock valued at $3,483,000 after acquiring an additional 43 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in shares of Laboratory Co. of America by 0.4% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 12,780 shares of the medical research company's stock worth $2,931,000 after acquiring an additional 45 shares during the period. Oregon Public Employees Retirement Fund increased its stake in shares of Laboratory Co. of America by 0.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,194 shares of the medical research company's stock worth $1,650,000 after acquiring an additional 46 shares during the period. Finally, Deseret Mutual Benefit Administrators raised its holdings in shares of Laboratory Co. of America by 28.2% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 232 shares of the medical research company's stock worth $53,000 after purchasing an additional 51 shares during the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Laboratory Co. of America Price Performance

LH stock traded up $1.77 during trading on Friday, hitting $253.92. The stock had a trading volume of 442,869 shares, compared to its average volume of 635,836. Laboratory Co. of America Holdings has a twelve month low of $192.38 and a twelve month high of $258.59. The company's 50-day moving average price is $236.87 and its two-hundred day moving average price is $238.69. 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 stock has a market capitalization of $21.25 billion, a P/E ratio of 28.79, a PEG ratio of 1.71 and a beta of 0.82.

Laboratory Co. of America (NYSE:LH - Get Free Report) last released its earnings results on Tuesday, April 29th. The medical research company reported $3.84 earnings per share for the quarter, beating 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 business had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.41 billion. During the same quarter last year, the business posted $3.68 earnings per share. The business's quarterly revenue was up 5.3% compared to the same quarter last year. As a group, research analysts predict that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal 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 paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.13%. Laboratory Co. of America's dividend payout ratio is currently 33.29%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on LH shares. Wall Street Zen downgraded Laboratory Co. of America from a "buy" rating to a "hold" rating in a report on Friday, April 18th. Citigroup upgraded shares of Laboratory Co. of America from a "neutral" rating to a "buy" rating and boosted their target price for the company from $250.00 to $300.00 in a research note on Tuesday, March 4th. Redburn Atlantic assumed coverage on shares of Laboratory Co. of America in a report on Wednesday, April 2nd. They set a "buy" rating and a $276.00 price target on the stock. Truist Financial lifted their price objective 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 upped 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 research report on Wednesday, April 30th. Four research 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 company. Based on data from MarketBeat.com, Laboratory Co. of America has a consensus rating of "Moderate Buy" and a consensus price target of $272.92.

Insider Buying and Selling

In other Laboratory Co. of America news, EVP Brian J. Caveney sold 2,000 shares of the business's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $247.00, for a total transaction of $494,000.00. Following the transaction, the executive vice president now owns 30,067 shares of the company's stock, valued at approximately $7,426,549. The trade was a 6.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Der Vaart Sandra D. Van sold 1,900 shares of Laboratory Co. of America stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $238.36, for a total transaction of $452,884.00. Following the completion of the sale, the executive vice president now owns 2,244 shares of the company's stock, valued at $534,879.84. This trade represents a 45.85% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,592 shares of company stock worth $2,841,820. 0.84% of the stock is owned by insiders.

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.