Squarepoint Ops LLC Sells 18,221 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Squarepoint Ops LLC cut its stake in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 85.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of LH. Graney & King LLC purchased a new position in shares of Laboratory Co. of America in the fourth quarter valued at about $26,000. Human Investing LLC bought a new stake in shares of Laboratory Co. of America in the fourth quarter worth about $39,000. Heck Capital Advisors LLC purchased a new position in Laboratory Co. of America during the 4th quarter valued at about $44,000. SBI Securities Co. Ltd. purchased a new position in Laboratory Co. of America during the 4th quarter valued at about $52,000. Finally, Deseret Mutual Benefit Administrators raised its position in Laboratory Co. of America by 28.2% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 232 shares of the medical research company's stock valued at $53,000 after purchasing an additional 51 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors.

Laboratory Co. of America Stock Up 0.7%

Shares of NYSE:LH traded up $1.77 during midday trading on Friday, reaching $253.92. The company's stock had a trading volume of 442,869 shares, compared to its average volume of 636,661. 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 50 day moving average of $236.87 and a 200-day moving average of $238.69. The firm 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 0.81. Laboratory Co. of America Holdings has a 12-month low of $192.38 and a 12-month high of $258.59.

Laboratory Co. of America (NYSE:LH - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.41 billion. Laboratory Co. of America had a net margin of 5.73% and a return on equity of 15.29%. Laboratory Co. of America's quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.68 earnings per share. On average, research analysts anticipate that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 1.13%. Laboratory Co. of America's payout ratio is currently 33.29%.

Insider Activity at Laboratory Co. of America

In related news, EVP Der Vaart Sandra D. Van sold 1,900 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $238.36, for a total transaction of $452,884.00. Following the sale, the executive vice president now directly owns 2,244 shares of the company's stock, valued at approximately $534,879.84. This represents a 45.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Amy B. Summy sold 758 shares of the company's stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $231.67, for a total transaction of $175,605.86. Following the completion of the transaction, the executive vice president now owns 5,302 shares in the company, valued at approximately $1,228,314.34. This represents a 12.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,592 shares of company stock valued at $2,841,820 in the last 90 days. Corporate insiders own 0.84% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on LH. Wall Street Zen lowered Laboratory Co. of America from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. Piper Sandler reaffirmed a "neutral" rating and issued a $280.00 price target (up previously from $260.00) on shares of Laboratory Co. of America in a research note on Tuesday, May 6th. Barclays lifted their price target on shares of Laboratory Co. of America from $240.00 to $250.00 and gave the company an "equal weight" rating in a report on Wednesday, April 30th. Citigroup upgraded shares of Laboratory Co. of America from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $250.00 to $300.00 in a report on Tuesday, March 4th. Finally, Jefferies Financial Group raised 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. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $272.92.

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.