SG Americas Securities LLC Buys 24,996 Shares of Laboratory Co. of America Holdings (NYSE:LH)

SG Americas Securities LLC grew its stake in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 2,584.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,963 shares of the medical research company's stock after purchasing an additional 24,996 shares during the period. SG Americas Securities LLC's holdings in Laboratory Co. of America were worth $6,043,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC purchased a new stake in shares of Laboratory Co. of America in the 4th quarter valued at approximately $991,000. Stratos Wealth Partners LTD. lifted its position in shares of Laboratory Co. of America by 11.8% in the 4th quarter. Stratos Wealth Partners LTD. now owns 1,268 shares of the medical research company's stock valued at $291,000 after acquiring an additional 134 shares in the last quarter. Apollon Wealth Management LLC purchased a new stake in shares of Laboratory Co. of America in the fourth quarter valued at $249,000. Empowered Funds LLC lifted its holdings in shares of Laboratory Co. of America by 0.5% in the fourth quarter. Empowered Funds LLC now owns 8,025 shares of the medical research company's stock valued at $1,840,000 after purchasing an additional 43 shares in the last quarter. Finally, Kestra Private Wealth Services LLC lifted its holdings in shares of Laboratory Co. of America by 132.6% in the fourth quarter. Kestra Private Wealth Services LLC now owns 3,056 shares of the medical research company's stock valued at $701,000 after purchasing an additional 1,742 shares in the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Laboratory Co. of America Stock Up 1.1%

Shares of Laboratory Co. of America stock traded up $2.83 during midday trading on Monday, reaching $263.95. 652,879 shares of the company's stock traded hands, compared to its average volume of 637,136. The company has a market cap of $22.09 billion, a price-to-earnings ratio of 29.93, a price-to-earnings-growth ratio of 1.71 and a beta of 0.81. The company's 50 day simple moving average is $241.51 and its 200 day simple moving average is $239.62. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44. Laboratory Co. of America Holdings has a 52 week low of $198.07 and a 52 week high of $264.03.

Laboratory Co. of America (NYSE:LH - Get Free Report) last posted 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 company had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.41 billion. During the same period last year, the company earned $3.68 earnings per share. The business's revenue was up 5.3% compared to the same quarter last year. Equities analysts expect 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 business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Thursday, May 29th were paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.09%. Laboratory Co. of America's payout ratio is 33.29%.

Analyst Ratings Changes

LH has been the subject of several research analyst reports. Redburn Atlantic initiated coverage on Laboratory Co. of America in a research note on Wednesday, April 2nd. They issued a "buy" rating and a $276.00 price objective for the company. Wall Street Zen cut shares of 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 raised their price target for the stock from $250.00 to $300.00 in a report on Tuesday, March 4th. Truist Financial raised 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 report on Monday, May 12th. Finally, Piper Sandler reiterated 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. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $274.00.

Insider Activity at Laboratory Co. of America

In related news, CAO Peter J. Wilkinson sold 829 shares of Laboratory Co. of America stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $242.26, for a total value of $200,833.54. Following the transaction, the chief accounting officer now owns 2,054 shares in the company, valued at $497,602.04. This trade represents a 28.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Adam H. Schechter sold 6,105 shares of Laboratory Co. of America stock in a transaction on Monday, May 12th. The stock was 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 owns 98,962 shares in the company, valued at $24,614,818.26. This trade represents a 5.81% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,092 shares of company stock valued at $2,971,820. Corporate insiders own 0.84% of the company's stock.

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.