Wellington Management Group LLP Trims Position in Laboratory Co. of America Holdings (NYSE:LH)

Wellington Management Group LLP lowered its holdings in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 19.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barclays PLC lifted its holdings in Laboratory Co. of America by 11.8% during the third quarter. Barclays PLC now owns 620,721 shares of the medical research company's stock valued at $138,718,000 after purchasing an additional 65,356 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Laboratory Co. of America by 9.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company's stock valued at $431,405,000 after buying an additional 167,137 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Laboratory Co. of America by 5.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 33,219 shares of the medical research company's stock valued at $7,618,000 after buying an additional 1,723 shares in the last quarter. Brighton Jones LLC purchased a new stake in shares of Laboratory Co. of America during the 4th quarter valued at approximately $991,000. Finally, Geneos Wealth Management Inc. lifted its stake in shares of Laboratory Co. of America by 309.8% during the 4th quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company's stock valued at $39,000 after buying an additional 127 shares in the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Laboratory Co. of America Stock Up 0.8%

LH stock traded up $1.87 during trading on Friday, hitting $248.62. 1,185,977 shares of the company's stock traded hands, compared to its average volume of 638,857. The business has a fifty day simple moving average of $235.32 and a two-hundred day simple moving average of $238.36. 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 1 year low of $191.97 and a 1 year high of $258.59. The firm has a market capitalization of $20.81 billion, a P/E ratio of 28.19, a PEG ratio of 1.71 and a beta of 0.82.

Laboratory Co. of America (NYSE:LH - Get Free Report) last announced its earnings results 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 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 period in the previous year, the business earned $3.68 EPS. The firm's revenue for the quarter was up 5.3% on a year-over-year basis. Sell-side analysts anticipate that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Announces Dividend

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

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, EVP Amy B. Summy sold 758 shares of the firm's 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 transaction, the executive vice president now owns 5,302 shares in the company, valued at approximately $1,228,314.34. This trade represents a 12.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Peter J. Wilkinson sold 829 shares of the firm'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 transaction 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 $497,602.04. This trade represents a 28.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,092 shares of company stock valued at $2,475,635. 0.84% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

LH has been the subject of a number of analyst reports. Robert W. Baird raised 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. Truist Financial raised their target price on shares of 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. Redburn Atlantic started coverage on shares of Laboratory Co. of America in a research note on Wednesday, April 2nd. They issued a "buy" rating and a $276.00 target price on the stock. 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 research report on Tuesday, March 4th. Finally, Barclays raised their price objective on shares of Laboratory Co. of America from $240.00 to $250.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 30th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $270.62.

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.