Voya Investment Management LLC Sells 2,286 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Voya Investment Management LLC trimmed its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 8.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,922 shares of the medical research company's stock after selling 2,286 shares during the period. Voya Investment Management LLC's holdings in Laboratory Co. of America were worth $5,715,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of LH. Capital City Trust Co. FL grew its position in shares of Laboratory Co. of America by 1.5% in the 4th quarter. Capital City Trust Co. FL now owns 15,553 shares of the medical research company's stock worth $3,567,000 after buying an additional 223 shares during the last quarter. Wealthcare Advisory Partners LLC boosted its stake in shares of Laboratory Co. of America by 23.9% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 2,543 shares of the medical research company's stock valued at $583,000 after purchasing an additional 490 shares in the last quarter. Bryn Mawr Capital Management LLC raised its holdings in Laboratory Co. of America by 51.2% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 1,495 shares of the medical research company's stock worth $343,000 after purchasing an additional 506 shares in the last quarter. Barclays PLC boosted its holdings 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 valued at $138,718,000 after buying an additional 65,356 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of Laboratory Co. of America by 7.0% in the 4th quarter. Nordea Investment Management AB now owns 1,052,927 shares of the medical research company's stock worth $243,321,000 after acquiring an additional 68,974 shares in the last quarter. 95.94% of the stock is owned by institutional investors.

Analysts Set New Price Targets

LH has been the subject of several research analyst reports. Jefferies Financial Group lifted their price objective on Laboratory Co. of America from $275.00 to $290.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Redburn Atlantic started 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 price target on the stock. Piper Sandler restated a "neutral" rating on shares of Laboratory Co. of America in a research note on Tuesday. Robert W. Baird lifted their target price on shares of Laboratory Co. of America from $253.00 to $267.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Finally, Barclays boosted their target price on shares of 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. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $267.85.

Laboratory Co. of America Stock Performance

NYSE:LH traded down $1.02 during mid-day trading on Tuesday, hitting $245.80. 84,764 shares of the company's stock traded hands, compared to its average volume of 637,136. The firm has a market capitalization of $20.57 billion, a price-to-earnings ratio of 27.89, a price-to-earnings-growth ratio of 1.71 and a beta of 0.82. The firm has a 50 day moving average of $234.19 and a two-hundred day moving average of $236.33. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $258.59. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67.

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, 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 firm had revenue of $3.35 billion during the quarter, compared to analysts' expectations of $3.41 billion. During the same period last year, the firm posted $3.68 EPS. The business's revenue was up 5.3% on a year-over-year basis. On average, equities analysts forecast that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders 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 1.17%. Laboratory Co. of America's payout ratio is presently 33.29%.

Insider Transactions at Laboratory Co. of America

In other news, CMO Amy B. Summy sold 226 shares of the 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 completion of the sale, the chief marketing officer now owns 4,544 shares of the company's stock, valued at approximately $1,137,817.60. This represents a 4.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Adam H. Schechter sold 6,121 shares of Laboratory Co. of America stock in a transaction dated 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. The trade was a 6.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,987 shares of company stock worth $4,171,895 in the last quarter. 0.84% of the stock is owned by company insiders.

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.