State of Tennessee Department of Treasury Has $4.01 Million Stake in Laboratory Co. of America Holdings (NYSE:LH)

State of Tennessee Department of Treasury raised its holdings in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 45.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,470 shares of the medical research company's stock after buying an additional 5,454 shares during the quarter. State of Tennessee Department of Treasury's holdings in Laboratory Co. of America were worth $4,006,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Barclays PLC lifted its position in 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 acquiring an additional 65,356 shares in the last quarter. Virtu Financial LLC acquired a new position in Laboratory Co. of America in the third quarter worth about $604,000. Te Ahumairangi Investment Management Ltd boosted its holdings in shares of Laboratory Co. of America by 9.0% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 25,597 shares of the medical research company's stock valued at $5,688,000 after buying an additional 2,124 shares during the period. World Investment Advisors LLC bought a new position in shares of Laboratory Co. of America during the third quarter worth about $5,955,000. Finally, Wilmington Savings Fund Society FSB raised its stake in Laboratory Co. of America by 34.6% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 25,847 shares of the medical research company's stock valued at $5,776,000 after acquiring an additional 6,651 shares in the last quarter. Hedge funds and other institutional investors own 95.94% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Redburn Atlantic began coverage on Laboratory Co. of America in a research note on Wednesday, April 2nd. They set a "buy" rating and a $276.00 target price on the stock. Evercore ISI raised Laboratory Co. of America from an "in-line" rating to an "outperform" rating and boosted their price objective for the stock from $260.00 to $265.00 in a research note on Tuesday, January 7th. Robert W. Baird boosted their price objective on Laboratory Co. of America from $253.00 to $267.00 and gave the stock an "outperform" rating in a research note on Wednesday. Barclays boosted their price objective on Laboratory Co. of America from $240.00 to $250.00 and gave the stock an "equal weight" rating in a report on Wednesday. Finally, Piper Sandler boosted their price target on Laboratory Co. of America from $240.00 to $260.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Laboratory Co. of America presently has a consensus rating of "Moderate Buy" and a consensus target price of $267.85.

Laboratory Co. of America Stock Up 0.2 %

NYSE LH traded up $0.46 during trading hours on Thursday, reaching $241.47. 202,590 shares of the company's stock were exchanged, compared to its average volume of 636,016. 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 debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44. The company's 50-day moving average is $234.59 and its two-hundred day moving average is $235.45. The company has a market capitalization of $20.20 billion, a price-to-earnings ratio of 27.37, a price-to-earnings-growth ratio of 1.71 and a beta of 0.99.

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 earnings per share for the quarter, topping analysts' consensus estimates of $3.73 by $0.11. The firm had revenue of $3.35 billion during the quarter, compared to the consensus estimate 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 was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.68 EPS. On average, 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 firm 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 1.19%. Laboratory Co. of America's dividend payout ratio is currently 32.65%.

Insider Transactions at Laboratory Co. of America

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,121 shares of the business's stock in a transaction that occurred 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 owns 86,445 shares of the company's stock, valued at $21,146,175.90. The trade was a 6.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Amy B. Summy sold 226 shares of the business's stock in a transaction that occurred 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 transaction, the chief marketing officer now directly owns 4,544 shares in the company, valued at approximately $1,137,817.60. This trade represents a 4.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,258 shares of company stock valued at $3,518,177 in the last ninety days. 0.84% of the stock is currently owned by corporate insiders.

Laboratory Co. of America Company Profile

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