Rhumbline Advisers Acquires 12,433 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Rhumbline Advisers lifted its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 8.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 155,368 shares of the medical research company's stock after buying an additional 12,433 shares during the period. 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 institutional investors have also modified their holdings of LH. JPMorgan Chase & Co. grew its position in shares of Laboratory Co. of America by 9.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company's stock valued at $431,405,000 after buying an additional 167,137 shares during the last quarter. Brighton Jones LLC bought a new position in Laboratory Co. of America in the 4th quarter worth about $991,000. DAVENPORT & Co LLC grew its position in Laboratory Co. of America by 6.1% in the 4th quarter. DAVENPORT & Co LLC now owns 3,989 shares of the medical research company's stock worth $915,000 after purchasing an additional 229 shares during the last quarter. Spire Wealth Management bought a new position in Laboratory Co. of America in the 4th quarter worth about $147,000. Finally, CENTRAL TRUST Co grew its position in Laboratory Co. of America by 7.3% in the 4th quarter. CENTRAL TRUST Co now owns 982 shares of the medical research company's stock worth $225,000 after purchasing an additional 67 shares during the last quarter. Institutional investors own 95.94% of the company's stock.

Analyst Ratings Changes

LH has been the subject of several recent analyst reports. Truist Financial upped their target price 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. Wall Street Zen cut shares of Laboratory Co. of America from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. Barclays upped their target price on shares of 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. Piper Sandler restated a "neutral" rating and issued a $280.00 target price (up previously from $260.00) on shares of Laboratory Co. of America in a research report on Tuesday, May 6th. Finally, Robert W. Baird upped their target price 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 investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $272.92.

Insiders Place Their Bets

In other news, CAO Peter J. Wilkinson sold 829 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $242.26, for a total transaction of $200,833.54. Following the transaction, the chief accounting officer now owns 2,054 shares in the company, valued at approximately $497,602.04. The trade was a 28.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Amy B. Summy sold 758 shares of the business's stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $231.67, for a total transaction of $175,605.86. Following the transaction, the executive vice president now owns 5,302 shares in the company, valued at approximately $1,228,314.34. The trade was a 12.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,592 shares of company stock worth $2,841,820 in the last ninety days. Insiders own 0.84% of the company's stock.

Laboratory Co. of America Trading Up 0.7%

Shares of LH stock traded up $1.77 during trading hours on Friday, reaching $253.92. 442,869 shares of the stock traded hands, compared to its average volume of 637,325. Laboratory Co. of America Holdings has a 1-year low of $192.38 and a 1-year high of $258.59. The business has a fifty day moving average price of $237.30 and a 200 day moving average price of $238.80. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $21.25 billion, a PE ratio of 28.79, a PEG ratio of 1.71 and a beta of 0.81.

Laboratory Co. of America (NYSE:LH - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The medical research company reported $3.84 EPS for the quarter, topping 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 company had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.41 billion. During the same quarter in the prior year, the business posted $3.68 EPS. Laboratory Co. of America's quarterly revenue was up 5.3% on a year-over-year basis. On average, equities research analysts forecast that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Investors 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 1.13%. Laboratory Co. of America's 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.