Laboratory Co. of America Holdings (NYSE:LH) Stake Lessened by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC cut its position in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 20.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 501,200 shares of the medical research company's stock after selling 126,638 shares during the quarter. Lord Abbett & CO. LLC owned 0.60% of Laboratory Co. of America worth $114,935,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Graney & King LLC acquired a new position in shares of Laboratory Co. of America in the fourth quarter worth $26,000. Fortitude Family Office LLC raised its stake in Laboratory Co. of America by 312.5% in the 4th quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company's stock valued at $30,000 after purchasing an additional 100 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in Laboratory Co. of America by 309.8% in the 4th quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company's stock valued at $39,000 after purchasing an additional 127 shares in the last quarter. Human Investing LLC acquired a new stake in shares of Laboratory Co. of America during the 4th quarter worth about $39,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of Laboratory Co. of America during the fourth quarter worth about $44,000. Institutional investors and hedge funds own 95.94% of the company's stock.

Insiders Place Their Bets

In other Laboratory Co. of America news, CMO Amy B. Summy sold 226 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $250.40, for a total value of $56,590.40. Following the sale, the chief marketing officer now owns 4,544 shares in the company, valued at approximately $1,137,817.60. This trade represents a 4.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adam H. Schechter sold 6,121 shares of the business's stock in a transaction on Tuesday, February 11th. The stock was 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 $21,146,175.90. This trade represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,258 shares of company stock valued at $3,518,177 in the last ninety days. Corporate insiders own 0.84% of the company's stock.

Laboratory Co. of America Stock Down 1.0 %

Shares of NYSE:LH traded down $2.45 during midday trading on Wednesday, hitting $237.97. 289,108 shares of the company's stock traded hands, compared to its average volume of 716,207. The firm's fifty day moving average price is $234.77 and its two-hundred day moving average price is $235.41. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $258.59. The company has a market cap of $19.91 billion, a PE ratio of 26.98, a P/E/G ratio of 1.71 and a beta of 0.99.

Laboratory Co. of America (NYSE:LH - Get Free Report) last posted its earnings results on Tuesday, April 29th. The medical research company reported $3.84 EPS for the quarter, topping analysts' consensus estimates 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 net margin of 5.73% and a return on equity of 15.29%. The business's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $3.68 earnings per share. On average, equities research analysts anticipate that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Thursday, May 29th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.21%. Laboratory Co. of America's dividend payout ratio (DPR) is currently 32.65%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Redburn Atlantic initiated coverage on shares of Laboratory Co. of America in a research report on Wednesday, April 2nd. They set a "buy" rating and a $276.00 target price on the stock. UBS Group decreased their price objective on Laboratory Co. of America from $293.00 to $286.00 and set a "buy" rating on the stock in a report on Tuesday, January 28th. Evercore ISI upgraded Laboratory Co. of America from an "in-line" rating to an "outperform" rating and upped their target price for the company from $260.00 to $265.00 in a research note on Tuesday, January 7th. Citigroup upgraded Laboratory Co. of America from a "neutral" rating to a "buy" rating and lifted their price target for the company from $250.00 to $300.00 in a report on Tuesday, March 4th. Finally, Truist Financial decreased their target price on shares of Laboratory Co. of America from $285.00 to $274.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. 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. According to MarketBeat.com, Laboratory Co. of America presently has a consensus rating of "Moderate Buy" and an average target price of $267.08.

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.