Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Squarepoint Ops LLC

Squarepoint Ops LLC decreased its holdings in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 85.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,025 shares of the medical research company's stock after selling 18,221 shares during the quarter. Squarepoint Ops LLC's holdings in Laboratory Co. of America were worth $694,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LH. Tidal Investments LLC increased its stake in Laboratory Co. of America by 53.0% during the 4th quarter. Tidal Investments LLC now owns 5,473 shares of the medical research company's stock worth $1,255,000 after purchasing an additional 1,895 shares in the last quarter. Select Equity Group L.P. lifted its stake in shares of Laboratory Co. of America by 150.9% during the 4th quarter. Select Equity Group L.P. now owns 1,595,957 shares of the medical research company's stock worth $365,985,000 after buying an additional 959,981 shares during the last quarter. Rafferty Asset Management LLC grew its position in shares of Laboratory Co. of America by 11.4% in the fourth quarter. Rafferty Asset Management LLC now owns 9,490 shares of the medical research company's stock valued at $2,176,000 after purchasing an additional 974 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of Laboratory Co. of America by 11.8% in the fourth quarter. ProShare Advisors LLC now owns 12,672 shares of the medical research company's stock valued at $2,906,000 after acquiring an additional 1,342 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its stake in shares of Laboratory Co. of America by 114.5% in the fourth quarter. Quantinno Capital Management LP now owns 6,850 shares of the medical research company's stock valued at $1,571,000 after buying an additional 3,656 shares during the period. Institutional investors and hedge funds own 95.94% of the company's stock.

Insider Buying and Selling

In related news, EVP Brian J. Caveney sold 2,000 shares of Laboratory Co. of America stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $247.00, for a total value of $494,000.00. Following the sale, the executive vice president now directly owns 30,067 shares in the company, valued at $7,426,549. This trade represents a 6.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Amy B. Summy sold 758 shares of the stock in a transaction on Friday, March 28th. The stock was sold at an average price of $231.67, for a total value of $175,605.86. Following the completion of the transaction, the executive vice president now directly owns 5,302 shares of the company's stock, 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. Over the last quarter, insiders sold 11,592 shares of company stock worth $2,841,820. Corporate insiders own 0.84% of the company's stock.

Laboratory Co. of America Trading Down 0.5%

Laboratory Co. of America stock traded down $1.15 during mid-day trading on Thursday, hitting $253.23. The company's stock had a trading volume of 376,918 shares, compared to its average volume of 635,636. Laboratory Co. of America Holdings has a one year low of $192.38 and a one year high of $258.59. The stock has a market cap of $21.19 billion, a PE ratio of 28.71, a P/E/G ratio of 1.71 and a beta of 0.82. The company has a 50 day moving average of $236.48 and a 200-day moving average of $238.59. 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 (NYSE:LH - Get Free Report) last issued its earnings results on Tuesday, April 29th. The medical research company reported $3.84 EPS for the quarter, beating analysts' consensus estimates 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 analyst estimates of $3.41 billion. During the same quarter in the prior year, the firm earned $3.68 earnings per share. Laboratory Co. of America's revenue for the quarter was up 5.3% on a year-over-year basis. On average, research analysts anticipate that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The firm also recently disclosed 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 1.14%. Laboratory Co. of America's payout ratio is 33.29%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LH. Truist Financial upped their target price on Laboratory Co. of America from $274.00 to $290.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Redburn Atlantic began 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 objective for the company. Piper Sandler reaffirmed a "neutral" rating and set a $280.00 price target (up from $260.00) on shares of Laboratory Co. of America in a research note on Tuesday, May 6th. Jefferies Financial Group boosted their target price on shares of 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. Finally, Wall Street Zen cut Laboratory Co. of America from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $272.92.

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.