Sycale Advisors NY LLC Sells 37,731 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Sycale Advisors NY LLC decreased its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 47.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 42,449 shares of the medical research company's stock after selling 37,731 shares during the period. Laboratory Co. of America makes up about 2.5% of Sycale Advisors NY LLC's holdings, making the stock its 15th largest holding. Sycale Advisors NY LLC owned 0.05% of Laboratory Co. of America worth $9,734,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Graney & King LLC bought a new stake in Laboratory Co. of America during the fourth quarter worth about $26,000. Geneos Wealth Management Inc. lifted its stake in Laboratory Co. of America by 309.8% during the fourth quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company's stock worth $39,000 after purchasing an additional 127 shares during the last quarter. Human Investing LLC bought a new stake in Laboratory Co. of America during the fourth quarter worth about $39,000. Heck Capital Advisors LLC bought a new stake in shares of Laboratory Co. of America in the 4th quarter valued at about $44,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Laboratory Co. of America in the 4th quarter valued at about $52,000. Institutional investors own 95.94% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on LH shares. Robert W. Baird boosted their price target on Laboratory Co. of America from $253.00 to $267.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Citigroup upgraded Laboratory Co. of America from a "neutral" rating to a "buy" rating and boosted their price target for the company from $250.00 to $300.00 in a report on Tuesday, March 4th. Jefferies Financial Group boosted their price target on Laboratory Co. of America from $275.00 to $290.00 and gave the company a "buy" rating in a report on Thursday, February 6th. StockNews.com downgraded Laboratory Co. of America from a "buy" rating to a "hold" rating in a report on Friday, April 18th. Finally, UBS Group reduced their price target on Laboratory Co. of America from $293.00 to $286.00 and set a "buy" rating on the stock in a report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $270.62.

Insider Transactions at Laboratory Co. of America

In other news, CEO Adam H. Schechter sold 6,105 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $248.73, for a total value of $1,518,496.65. Following the sale, the chief executive officer now directly owns 98,962 shares of the company's stock, valued at $24,614,818.26. The trade was a 5.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Peter J. Wilkinson sold 829 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $242.26, for a total value of $200,833.54. Following the completion of the sale, the chief accounting officer now directly owns 2,054 shares in the company, valued at approximately $497,602.04. This represents a 28.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,971 shares of company stock valued at $4,193,073 in the last ninety days. 0.84% of the stock is currently owned by corporate insiders.

Laboratory Co. of America Stock Down 3.8%

Shares of LH stock traded down $9.54 during midday trading on Wednesday, reaching $241.26. 916,624 shares of the stock were exchanged, compared to its average volume of 643,742. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $258.59. The company's 50 day moving average is $234.13 and its two-hundred day moving average is $237.95. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67. The firm has a market cap of $20.19 billion, a PE ratio of 27.35, a price-to-earnings-growth ratio of 1.71 and a beta of 0.82.

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, topping 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 the consensus estimate of $3.41 billion. During the same quarter in the prior year, the business earned $3.68 EPS. The business's revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities research analysts predict that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Thursday, May 29th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.19%. Laboratory Co. of America's dividend payout ratio is currently 33.29%.

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.