Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System cut its position in Laboratory Co. of America Holdings (NYSE:LH) by 4.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,500 shares of the medical research company’s stock after selling 200 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Laboratory Co. of America were worth $1,032,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. SouthState Corp acquired a new stake in shares of Laboratory Co. of America in the third quarter valued at $28,000. Horizon Bancorp Inc. IN acquired a new stake in shares of Laboratory Co. of America in the third quarter valued at $29,000. Fortitude Family Office LLC grew its stake in shares of Laboratory Co. of America by 312.5% in the fourth quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock valued at $30,000 after buying an additional 100 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Laboratory Co. of America by 309.8% in the fourth quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock valued at $39,000 after buying an additional 127 shares in the last quarter. Finally, Concord Wealth Partners boosted its holdings in Laboratory Co. of America by 43.3% in the third quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock valued at $38,000 after purchasing an additional 52 shares during the period. 95.94% of the stock is owned by institutional investors and hedge funds.

Laboratory Co. of America Stock Up 0.8 %

LH opened at $246.74 on Tuesday. The business’s 50-day simple moving average is $237.42 and its 200-day simple moving average is $231.14. 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 one year low of $191.97 and a one year high of $258.59. The stock has a market capitalization of $20.64 billion, a P/E ratio of 27.98, a price-to-earnings-growth ratio of 1.84 and a beta of 1.07.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.40 by $0.05. Laboratory Co. of America had a return on equity of 15.29% and a net margin of 5.73%. Analysts anticipate that Laboratory Co. of America Holdings will post 15.96 EPS for the current year.

Laboratory Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 32.65%.

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $239.42, for a total transaction of $239,420.00. Following the transaction, the executive vice president now owns 2,670 shares in the company, valued at approximately $639,251.40. The trade was a 27.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CMO Amy B. Summy sold 3,672 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $238.91, for a total value of $877,277.52. Following the transaction, the chief marketing officer now owns 4,318 shares in the company, valued at $1,031,613.38. The trade was a 45.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,504 shares of company stock worth $5,905,692 in the last quarter. Company insiders own 0.85% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. HSBC upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. Evercore ISI upgraded Laboratory Co. of America from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $260.00 to $265.00 in a report on Tuesday, January 7th. Barclays decreased their target price on Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating for the company in a report on Friday, February 7th. Bank of America lifted their target price on Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Hsbc Global Res raised Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $265.31.

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.