Select Equity Group L.P. Boosts Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Select Equity Group L.P. increased its stake in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 150.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,595,957 shares of the medical research company's stock after purchasing an additional 959,981 shares during the quarter. Laboratory Co. of America accounts for 1.5% of Select Equity Group L.P.'s holdings, making the stock its 27th biggest holding. Select Equity Group L.P. owned approximately 1.91% of Laboratory Co. of America worth $365,985,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of LH. Barclays PLC lifted its stake in shares of Laboratory Co. of America by 11.8% during the 3rd quarter. Barclays PLC now owns 620,721 shares of the medical research company's stock worth $138,718,000 after purchasing an additional 65,356 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Laboratory Co. of America by 9.5% in the third quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company's stock valued at $431,405,000 after purchasing an additional 167,137 shares during the period. Wedmont Private Capital acquired a new stake in shares of Laboratory Co. of America in the fourth quarter worth approximately $203,000. Assenagon Asset Management S.A. lifted its position in Laboratory Co. of America by 3.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,943 shares of the medical research company's stock worth $904,000 after buying an additional 122 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its position in Laboratory Co. of America by 22.7% during the fourth quarter. Park Avenue Securities LLC now owns 6,525 shares of the medical research company's stock worth $1,496,000 after buying an additional 1,205 shares in the last quarter. Institutional investors own 95.94% of the company's stock.

Laboratory Co. of America Stock Performance

NYSE LH traded up $0.93 on Tuesday, hitting $250.73. 604,154 shares of the company's stock were exchanged, compared to its average volume of 642,453. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30. The firm's 50-day moving average price is $233.83 and its two-hundred day moving average price is $237.86. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $258.59. The firm has a market cap of $20.99 billion, a price-to-earnings ratio of 28.43, a P/E/G ratio of 1.71 and a beta of 0.82.

Laboratory Co. of America (NYSE:LH - Get Free Report) last released its earnings results on Tuesday, April 29th. The medical research company reported $3.84 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.41 billion. During the same quarter last year, the company earned $3.68 earnings per share. Laboratory Co. of America's quarterly revenue was up 5.3% compared to the same quarter last year. On average, research analysts expect that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Announces Dividend

The company also recently declared 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 1.15%. Laboratory Co. of America's dividend payout ratio (DPR) is presently 33.29%.

Insider Transactions at Laboratory Co. of America

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,105 shares of Laboratory Co. of America stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $248.73, for a total value of $1,518,496.65. Following the completion of the sale, the chief executive officer now owns 98,962 shares in the company, valued at $24,614,818.26. The trade was a 5.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CMO Amy B. Summy sold 226 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $250.40, for a total value of $56,590.40. Following the completion of the transaction, the chief marketing officer now directly owns 4,544 shares in the company, valued at $1,137,817.60. This trade represents a 4.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,971 shares of company stock valued at $4,193,073 in the last 90 days. 0.84% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on LH. Jefferies Financial Group boosted their price objective on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Citigroup upgraded shares of Laboratory Co. of America from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $250.00 to $300.00 in a research note on Tuesday, March 4th. Barclays boosted 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 note on Wednesday, April 30th. Truist Financial boosted their target price on Laboratory Co. of America from $274.00 to $290.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Finally, UBS Group cut their target price on shares of Laboratory Co. of America from $293.00 to $286.00 and set a "buy" rating on the stock in a research note on Tuesday, January 28th. 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. According to data from MarketBeat.com, the stock currently has an average 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.