Mercer Global Advisors Inc. ADV Reduces Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

Mercer Global Advisors Inc. ADV lessened its position in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 19.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,278 shares of the medical research company's stock after selling 4,581 shares during the quarter. Mercer Global Advisors Inc. ADV's holdings in Laboratory Co. of America were worth $4,421,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Graney & King LLC purchased a new position in shares of Laboratory Co. of America in the 4th quarter worth approximately $26,000. Fortitude Family Office LLC boosted its holdings in shares of 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 worth $30,000 after purchasing an additional 100 shares during the period. Geneos Wealth Management Inc. boosted its holdings in shares of 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 worth $39,000 after purchasing an additional 127 shares during the period. Human Investing LLC purchased a new position in shares of Laboratory Co. of America in the 4th quarter worth approximately $39,000. Finally, Heck Capital Advisors LLC purchased a new position in Laboratory Co. of America during the 4th quarter valued at $44,000. Hedge funds and other institutional investors own 95.94% of the company's stock.

Insider Transactions at Laboratory Co. of America

In related news, 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 transaction of $1,497,319.02. Following the transaction, the chief executive officer now directly owns 86,445 shares in the company, valued at $21,146,175.90. The trade was a 6.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Der Vaart Sandra D. Van sold 1,900 shares of the business's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $238.36, for a total value of $452,884.00. Following the transaction, the executive vice president now owns 2,244 shares in the company, valued at approximately $534,879.84. This trade represents a 45.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 16,987 shares of company stock valued at $4,171,895. Corporate insiders own 0.84% of the company's stock.

Laboratory Co. of America Stock Down 1.2%

NYSE LH traded down $3.00 on Friday, reaching $245.76. 583,379 shares of the stock traded hands, compared to its average volume of 639,717. 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 company has a fifty day moving average price of $233.68 and a 200-day moving average price of $237.03. The company has a market cap of $20.57 billion, a price-to-earnings ratio of 27.86, a PEG ratio of 1.71 and a beta of 0.82. 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 released its quarterly 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. The firm had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.41 billion. Laboratory Co. of America had a return on equity of 15.29% and a net margin of 5.73%. 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 EPS. As a group, research analysts forecast that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Thursday, May 29th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.17%. Laboratory Co. of America's payout ratio is 33.29%.

Wall Street Analysts Forecast Growth

LH has been the subject of several research analyst reports. Redburn Atlantic started coverage on Laboratory Co. of America in a research report on Wednesday, April 2nd. They set a "buy" rating and a $276.00 target price for the company. Robert W. Baird lifted 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. Barclays lifted their target price 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, April 30th. UBS Group decreased their target price on Laboratory Co. of America from $293.00 to $286.00 and set a "buy" rating for the company in a research report on Tuesday, January 28th. Finally, Citigroup upgraded Laboratory Co. of America from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $250.00 to $300.00 in a research report on Tuesday, March 4th. Four research 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. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $269.38.

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.