Victory Capital Management Inc. Has $12 Million Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Victory Capital Management Inc. trimmed its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 5.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,311 shares of the medical research company’s stock after selling 3,042 shares during the period. Victory Capital Management Inc. owned 0.06% of Laboratory Co. of America worth $11,996,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LH. Principal Financial Group Inc. raised its position in shares of Laboratory Co. of America by 2.8% in the third quarter. Principal Financial Group Inc. now owns 96,596 shares of the medical research company’s stock valued at $21,587,000 after buying an additional 2,595 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Laboratory Co. of America by 1.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 188,543 shares of the medical research company’s stock valued at $42,136,000 after buying an additional 2,339 shares in the last quarter. MQS Management LLC bought a new position in Laboratory Co. of America in the third quarter valued at approximately $540,000. Oppenheimer Asset Management Inc. increased its stake in Laboratory Co. of America by 3.8% in the third quarter. Oppenheimer Asset Management Inc. now owns 12,735 shares of the medical research company’s stock valued at $2,846,000 after acquiring an additional 470 shares during the last quarter. Finally, Curi RMB Capital LLC bought a new position in Laboratory Co. of America in the third quarter valued at approximately $367,000. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Laboratory Co. of America

In other news, Director Kerrii B. Anderson sold 500 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $255.63, for a total transaction of $127,815.00. Following the transaction, the director now owns 13,166 shares in the company, valued at approximately $3,365,624.58. This represents a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Adam H. Schechter sold 6,121 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were 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 in the company, valued at $21,146,175.90. This represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,500 shares of company stock worth $3,577,572 over the last quarter. Company insiders own 0.85% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on LH. Jefferies Financial Group lifted 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 research note on Thursday, February 6th. Citigroup raised shares of Laboratory Co. of America from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $250.00 to $300.00 in a research note on Tuesday, March 4th. Barclays decreased their price objective on shares of Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating on the stock in a research note on Friday, February 7th. Piper Sandler boosted their target price on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Finally, UBS Group decreased 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. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $268.38.

Laboratory Co. of America Stock Performance

Shares of Laboratory Co. of America stock opened at $235.45 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $258.59. The stock has a market cap of $19.71 billion, a price-to-earnings ratio of 26.69, a P/E/G ratio of 1.71 and a beta of 1.12. The company’s fifty day moving average is $244.47 and its 200 day moving average is $233.94.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 earnings per share for the quarter, topping the consensus estimate of $3.40 by $0.05. Laboratory Co. of America had a net margin of 5.73% and a return on equity of 15.29%. Sell-side analysts forecast 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 announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Thursday, February 27th were issued a $0.72 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $2.88 annualized dividend and a yield of 1.22%. Laboratory Co. of America’s payout ratio is 32.65%.

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.