Worldquant Millennium Advisors LLC Purchases 36,966 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Worldquant Millennium Advisors LLC grew its stake in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 689.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,328 shares of the medical research company's stock after buying an additional 36,966 shares during the quarter. Worldquant Millennium Advisors LLC owned 0.05% of Laboratory Co. of America worth $9,707,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Geode Capital Management LLC boosted its holdings in shares of Laboratory Co. of America by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 2,003,998 shares of the medical research company's stock worth $458,334,000 after purchasing an additional 39,255 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Laboratory Co. of America by 9.5% during the third quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company's stock worth $431,405,000 after purchasing an additional 167,137 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Laboratory Co. of America by 2.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,916,505 shares of the medical research company's stock worth $437,357,000 after buying an additional 51,045 shares during the period. Bank of New York Mellon Corp boosted its position in Laboratory Co. of America by 2.4% during the 4th quarter. Bank of New York Mellon Corp now owns 1,822,964 shares of the medical research company's stock valued at $418,042,000 after acquiring an additional 41,898 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of Laboratory Co. of America by 2.2% during the 4th quarter. FMR LLC now owns 1,620,826 shares of the medical research company's stock worth $371,688,000 after acquiring an additional 34,429 shares during the period. 95.94% of the stock is owned by institutional investors.

Laboratory Co. of America Stock Up 0.3%

NYSE LH traded up $0.80 during mid-day trading on Friday, reaching $242.69. The stock had a trading volume of 503,833 shares, compared to its average volume of 641,978. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $258.59. The stock has a market cap of $20.31 billion, a PE ratio of 27.52, a price-to-earnings-growth ratio of 1.71 and a beta of 0.82. The company has a fifty day moving average price of $234.25 and a 200 day moving average price of $238.17. 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 (NYSE:LH - Get Free Report) last announced its quarterly earnings data 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 net margin of 5.73% and a return on equity of 15.29%. The company had revenue of $3.35 billion during the quarter, compared to analyst estimates 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. On average, research analysts expect that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

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

Insider Buying and Selling

In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 1,314 shares of Laboratory Co. of America stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $251.30, for a total value of $330,208.20. Following the completion of the sale, the executive vice president now owns 2,171 shares of the company's stock, valued at approximately $545,572.30. The trade was a 37.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Peter J. Wilkinson sold 829 shares of Laboratory Co. of America 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 sale, the chief accounting officer now directly owns 2,054 shares of the company's stock, valued at approximately $497,602.04. This trade represents a 28.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,971 shares of company stock worth $4,193,073 in the last three months. Insiders own 0.84% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Robert W. Baird increased their target price on Laboratory Co. of America from $253.00 to $267.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Piper Sandler reissued a "neutral" rating and issued a $280.00 target price (up previously from $260.00) on shares of Laboratory Co. of America in a research report on Tuesday, May 6th. Jefferies Financial Group increased their target price on Laboratory Co. of America from $275.00 to $290.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Citigroup raised Laboratory Co. of America from a "neutral" rating to a "buy" rating and increased their target price for the stock from $250.00 to $300.00 in a research report on Tuesday, March 4th. Finally, Wall Street Zen lowered shares of Laboratory Co. of America from a "buy" rating to a "hold" rating in a report on Friday, April 18th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $270.62.

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.