UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Position in Laboratory Co. of America Holdings (NYSE:LH)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 7.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 984,227 shares of the medical research company's stock after buying an additional 70,208 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 1.18% of Laboratory Co. of America worth $225,703,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Worldquant Millennium Advisors LLC boosted its stake in Laboratory Co. of America by 689.4% during the fourth quarter. Worldquant Millennium Advisors LLC now owns 42,328 shares of the medical research company's stock worth $9,707,000 after buying an additional 36,966 shares during the period. Woodline Partners LP boosted its stake in shares of Laboratory Co. of America by 18.1% in the fourth quarter. Woodline Partners LP now owns 141,995 shares of the medical research company's stock valued at $32,562,000 after purchasing an additional 21,734 shares during the period. Tidal Investments LLC boosted its stake in shares of Laboratory Co. of America by 53.0% in the fourth quarter. Tidal Investments LLC now owns 5,473 shares of the medical research company's stock valued at $1,255,000 after purchasing an additional 1,895 shares during the period. Select Equity Group L.P. grew its holdings in shares of Laboratory Co. of America by 150.9% in the fourth quarter. Select Equity Group L.P. now owns 1,595,957 shares of the medical research company's stock valued at $365,985,000 after purchasing an additional 959,981 shares in the last quarter. Finally, Rafferty Asset Management LLC increased its stake in Laboratory Co. of America by 11.4% during the 4th quarter. Rafferty Asset Management LLC now owns 9,490 shares of the medical research company's stock worth $2,176,000 after buying an additional 974 shares during the period. Hedge funds and other institutional investors own 95.94% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on LH. Piper Sandler reiterated a "neutral" rating and set a $280.00 target price (up from $260.00) on shares of Laboratory Co. of America in a report on Tuesday, May 6th. Truist Financial increased 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 report on Monday, May 12th. Barclays increased 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 report on Wednesday, April 30th. UBS Group reduced their target price on shares of 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. Finally, Citigroup upgraded shares of Laboratory Co. of America from a "neutral" rating to a "buy" rating and raised their price objective for the company from $250.00 to $300.00 in a report on Tuesday, March 4th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $270.62.

Laboratory Co. of America Stock Down 0.1%

NYSE:LH traded down $0.35 during midday trading on Wednesday, hitting $247.34. 129,133 shares of the company were exchanged, compared to its average volume of 640,093. The company has a fifty day simple moving average of $234.55 and a 200 day simple moving average of $238.26. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $258.59. 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 company has a market capitalization of $20.70 billion, a PE ratio of 28.02, 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 issued its quarterly earnings data on Tuesday, April 29th. The medical research company reported $3.84 earnings per share (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 the consensus estimate of $3.41 billion. During the same period last year, the firm posted $3.68 EPS. Laboratory Co. of America's revenue for the quarter was up 5.3% on a year-over-year basis. As a group, equities analysts anticipate that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Thursday, May 29th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.16%. Laboratory Co. of America's payout ratio is currently 33.29%.

Insiders Place Their Bets

In other news, COO Mark S. Schroeder sold 5,339 shares of Laboratory Co. of America stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $249.23, for a total value of $1,330,638.97. Following the sale, the chief operating officer now owns 4,960 shares of the company's stock, valued at $1,236,180.80. The trade was a 51.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Peter J. Wilkinson sold 829 shares of Laboratory Co. of America 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 completion of the sale, the chief accounting officer now directly owns 2,054 shares in the company, valued at approximately $497,602.04. The trade was a 28.75% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,431 shares of company stock valued at $3,806,274. Insiders own 0.84% of the company's stock.

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.