Gotham Asset Management LLC Invests $5.88 Million in Laboratory Co. of America Holdings (NYSE:LH)

Gotham Asset Management LLC acquired a new stake in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 25,643 shares of the medical research company's stock, valued at approximately $5,880,000.

A number of other institutional investors and hedge funds also recently modified their holdings of LH. Graney & King LLC purchased a new position in shares of Laboratory Co. of America during the fourth quarter valued at $26,000. Geneos Wealth Management Inc. grew its holdings in shares of Laboratory Co. of America by 309.8% during the fourth 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. Human Investing LLC purchased a new position in shares of Laboratory Co. of America during the fourth quarter valued at $39,000. Heck Capital Advisors LLC purchased a new stake in shares of Laboratory Co. of America in the fourth quarter worth approximately $44,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Laboratory Co. of America in the fourth quarter worth approximately $52,000. Institutional investors and hedge funds own 95.94% of the company's stock.

Laboratory Co. of America Stock Performance

Laboratory Co. of America stock traded up $3.33 during trading hours on Friday, reaching $249.60. 560,711 shares of the company were exchanged, compared to its average volume of 642,239. The firm has a market cap of $20.89 billion, a price-to-earnings ratio of 28.30, a PEG ratio of 1.71 and a beta of 0.82. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67. The stock has a 50-day moving average of $233.37 and a 200 day moving average of $237.44. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $258.59.

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 EPS 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 the consensus estimate of $3.41 billion. During the same quarter last year, the firm posted $3.68 EPS. The business's quarterly revenue was up 5.3% on a year-over-year basis. As a group, research analysts anticipate that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The business also recently announced 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 1.15%. Laboratory Co. of America's dividend payout ratio (DPR) is currently 33.29%.

Insider Activity at Laboratory Co. of America

In related news, EVP Amy B. Summy sold 758 shares of the company'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 completion of the transaction, the executive vice president now directly owns 5,302 shares in the company, valued at approximately $1,228,314.34. This represents a 12.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kerrii B. Anderson sold 500 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $255.63, for a total value of $127,815.00. Following the completion of the transaction, the director now owns 13,166 shares of the company's stock, valued at $3,365,624.58. The trade was a 3.66% decrease in their ownership of the stock. 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 ninety days. 0.84% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Jefferies Financial Group increased their price target on shares of 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. StockNews.com cut shares of Laboratory Co. of America from a "buy" rating to a "hold" rating in a report on Friday, April 18th. Citigroup upgraded shares of Laboratory Co. of America from a "neutral" rating to a "buy" rating and boosted their price target for the company from $250.00 to $300.00 in a report on Tuesday, March 4th. Barclays boosted their price target on shares of Laboratory Co. of America from $240.00 to $250.00 and gave the company an "equal weight" rating in a report on Wednesday, April 30th. Finally, Redburn Atlantic started coverage on Laboratory Co. of America in a research note on Wednesday, April 2nd. They set a "buy" rating and a $276.00 price target for the company. Four 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. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $270.62.

About Laboratory Co. of America

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.