Wellington Management Group LLP Sells 63,449 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Wellington Management Group LLP trimmed its position in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 19.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 263,534 shares of the medical research company's stock after selling 63,449 shares during the period. Wellington Management Group LLP owned about 0.31% of Laboratory Co. of America worth $60,434,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in LH. Norges Bank purchased a new position in Laboratory Co. of America in the 4th quarter worth $239,811,000. Select Equity Group L.P. grew its stake in shares of Laboratory Co. of America by 150.9% during 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 buying an additional 959,981 shares during the last quarter. Amundi increased its holdings in shares of Laboratory Co. of America by 344.9% in the fourth quarter. Amundi now owns 1,123,409 shares of the medical research company's stock worth $263,161,000 after buying an additional 870,903 shares during the period. Madison Investment Advisors LLC bought a new stake in shares of Laboratory Co. of America in the 4th quarter valued at about $123,415,000. Finally, Alliancebernstein L.P. boosted its holdings in Laboratory Co. of America by 59.4% during the 4th quarter. Alliancebernstein L.P. now owns 1,021,104 shares of the medical research company's stock valued at $234,160,000 after acquiring an additional 380,624 shares during the period. 95.94% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Robert W. Baird boosted their price objective on shares of Laboratory Co. of America from $253.00 to $267.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Piper Sandler restated a "neutral" rating and set a $280.00 target price (up previously from $260.00) on shares of Laboratory Co. of America in a report on Tuesday, May 6th. Barclays raised their price target on Laboratory Co. of America from $240.00 to $250.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 30th. Citigroup raised shares of Laboratory Co. of America from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $250.00 to $300.00 in a research report on Tuesday, March 4th. Finally, Wall Street Zen cut shares of Laboratory Co. of America from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Laboratory Co. of America currently has a consensus rating of "Moderate Buy" and an average target price of $272.92.

Laboratory Co. of America Stock Down 1.1%

LH stock traded down $2.65 during trading on Monday, hitting $246.32. 140,055 shares of the stock traded hands, compared to its average volume of 634,450. The stock has a market cap of $20.62 billion, a price-to-earnings ratio of 27.93, a price-to-earnings-growth ratio of 1.71 and a beta of 0.82. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30. Laboratory Co. of America Holdings has a 1 year low of $192.38 and a 1 year high of $258.59. The firm's 50 day moving average is $235.32 and its two-hundred day moving average is $238.31.

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 (EPS) for the quarter, beating the consensus estimate of $3.73 by $0.11. The business had revenue of $3.35 billion for the quarter, compared to analysts' expectations of $3.41 billion. Laboratory Co. of America had a return on equity of 15.29% and a net margin of 5.73%. The firm's quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm posted $3.68 EPS. On average, sell-side 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 1.17%. Laboratory Co. of America's dividend payout ratio (DPR) is presently 33.29%.

Insider Buying and Selling

In other Laboratory Co. of America news, 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 sale, 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 sale was disclosed in a filing with the SEC, which is accessible 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 transaction, 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. Over the last quarter, insiders have sold 10,092 shares of company stock valued at $2,475,635. 0.84% of the stock is owned by insiders.

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.