Laboratory Co. of America Holdings (NYSE:LH) Shares Purchased by First Trust Advisors LP

First Trust Advisors LP lifted its position in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 34.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,441 shares of the medical research company's stock after purchasing an additional 17,682 shares during the period. First Trust Advisors LP owned about 0.08% of Laboratory Co. of America worth $15,924,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Freedom Investment Management Inc. acquired a new position in shares of Laboratory Co. of America during the fourth quarter valued at approximately $379,000. Forum Financial Management LP boosted its holdings in shares of Laboratory Co. of America by 93.9% in the fourth quarter. Forum Financial Management LP now owns 2,461 shares of the medical research company's stock worth $564,000 after buying an additional 1,192 shares during the period. GeoWealth Management LLC raised its stake in Laboratory Co. of America by 167.2% during the 4th quarter. GeoWealth Management LLC now owns 1,499 shares of the medical research company's stock valued at $344,000 after purchasing an additional 938 shares during the period. Fairfield Bush & CO. boosted its position in Laboratory Co. of America by 3.7% during the 4th quarter. Fairfield Bush & CO. now owns 11,368 shares of the medical research company's stock worth $2,607,000 after acquiring an additional 409 shares during the period. Finally, Canada Pension Plan Investment Board lifted its position in Laboratory Co. of America by 52.2% in the 4th quarter. Canada Pension Plan Investment Board now owns 2,410 shares of the medical research company's stock worth $553,000 after buying an additional 827 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Laboratory Co. of America Stock Down 0.0 %

Shares of Laboratory Co. of America stock traded down $0.05 during trading hours on Thursday, reaching $240.96. The company's stock had a trading volume of 571,032 shares, compared to its average volume of 637,559. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44. The stock's fifty day simple moving average is $234.59 and its two-hundred day simple moving average is $235.45. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year high of $258.59. The company has a market capitalization of $20.16 billion, a P/E ratio of 27.37, a P/E/G ratio of 1.71 and a beta of 0.99.

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, beating 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 business had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.41 billion. During the same period in the prior year, the company earned $3.68 earnings per share. Laboratory Co. of America's revenue was up 5.3% compared to the same quarter last year. On average, research analysts forecast 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 dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.20%. Laboratory Co. of America's dividend payout ratio is 32.65%.

Analyst Ratings Changes

A number of analysts have weighed in on LH shares. Barclays boosted 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 report on Wednesday. Piper Sandler lifted their target price on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the company a "neutral" rating in a research report on Monday, February 10th. Evercore ISI raised shares of Laboratory Co. of America from an "in-line" rating to an "outperform" rating and upped their target price for the stock from $260.00 to $265.00 in a report on Tuesday, January 7th. Citigroup raised Laboratory Co. of America from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $250.00 to $300.00 in a research note on Tuesday, March 4th. Finally, Redburn Atlantic assumed 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. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $267.85.

Insiders Place Their Bets

In related news, CEO Adam H. Schechter sold 6,121 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $244.62, for a total value of $1,497,319.02. Following the transaction, the chief executive officer now owns 86,445 shares of the company's stock, valued at approximately $21,146,175.90. This trade represents a 6.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Amy B. Summy sold 758 shares of the firm's stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $231.67, for a total transaction of $175,605.86. Following the sale, the executive vice president now owns 5,302 shares in the company, valued at approximately $1,228,314.34. The trade was a 12.51 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,258 shares of company stock valued at $3,518,177. 0.84% of the stock is currently owned by corporate insiders.

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.