Laboratory Co. of America Holdings (NYSE:LH) Stock Position Boosted by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC raised its position in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 10.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 138,060 shares of the medical research company's stock after acquiring an additional 12,960 shares during the period. Wedge Capital Management L L P NC owned approximately 0.17% of Laboratory Co. of America worth $32,132,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Capital City Trust Co. FL grew its position in Laboratory Co. of America by 1.5% in the fourth quarter. Capital City Trust Co. FL now owns 15,553 shares of the medical research company's stock valued at $3,567,000 after acquiring an additional 223 shares in the last quarter. Bryn Mawr Capital Management LLC grew its holdings in Laboratory Co. of America by 51.2% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 1,495 shares of the medical research company's stock valued at $343,000 after purchasing an additional 506 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Laboratory Co. of America by 28.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,394 shares of the medical research company's stock worth $2,162,000 after buying an additional 2,081 shares during the period. JPMorgan Chase & Co. lifted its holdings in Laboratory Co. of America by 9.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company's stock worth $431,405,000 after buying an additional 167,137 shares in the last quarter. Finally, LPL Financial LLC boosted its position in Laboratory Co. of America by 63.8% in the 4th quarter. LPL Financial LLC now owns 62,546 shares of the medical research company's stock valued at $14,343,000 after buying an additional 24,357 shares during the last quarter. Hedge funds and other institutional investors own 95.94% of the company's stock.

Laboratory Co. of America Stock Performance

Shares of NYSE:LH traded up $0.59 on Wednesday, reaching $259.96. 554,143 shares of the company's stock were exchanged, compared to its average volume of 637,700. The business's 50-day moving average is $238.20 and its two-hundred day moving average is $239.06. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67. Laboratory Co. of America Holdings has a fifty-two week low of $192.38 and a fifty-two week high of $261.37. The firm has a market capitalization of $21.76 billion, a price-to-earnings ratio of 29.47, a PEG ratio of 1.71 and a beta of 0.81.

Laboratory Co. of America (NYSE:LH - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The medical research company reported $3.84 earnings per share 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 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 business earned $3.68 earnings per share. Laboratory Co. of America's quarterly revenue was up 5.3% on a year-over-year basis. As a group, equities research analysts forecast 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 disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Thursday, May 29th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.11%. Laboratory Co. of America's dividend payout ratio is currently 33.29%.

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 1,900 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $238.36, for a total value of $452,884.00. Following the completion of the transaction, the executive vice president now owns 2,244 shares in the company, valued at approximately $534,879.84. This represents a 45.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Brian J. Caveney sold 2,000 shares of Laboratory Co. of America stock in a transaction that occurred on 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 approximately $7,426,549. This trade represents a 6.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,592 shares of company stock worth $2,841,820 in the last 90 days. 0.84% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on LH shares. Piper Sandler reaffirmed a "neutral" rating and set a $280.00 target price (up from $260.00) on shares of Laboratory Co. of America in a research report on Tuesday, May 6th. Redburn Atlantic initiated coverage on Laboratory Co. of America in a report on Wednesday, April 2nd. They set a "buy" rating and a $276.00 price objective on the stock. Truist Financial increased their target price on Laboratory Co. of America from $274.00 to $290.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Morgan Stanley raised their price target on shares of Laboratory Co. of America from $270.00 to $283.00 and gave the stock an "overweight" rating in a research report on Wednesday. Finally, 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. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Laboratory Co. of America presently has an average rating of "Moderate Buy" and an average price target of $274.00.

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.