Brandywine Global Investment Management LLC lowered its stake in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 7.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 58,930 shares of the medical research company's stock after selling 4,890 shares during the period. Brandywine Global Investment Management LLC owned 0.07% of Laboratory Co. of America worth $13,514,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the stock. Graney & King LLC purchased a new stake in shares of Laboratory Co. of America in the 4th quarter valued at $26,000. Fortitude Family Office LLC raised its stake in 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 worth $30,000 after buying an additional 100 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Laboratory Co. of America by 309.8% during the fourth quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company's stock valued at $39,000 after purchasing an additional 127 shares in the last quarter. Human Investing LLC purchased a new position in Laboratory Co. of America during the 4th quarter valued at about $39,000. Finally, True Wealth Design LLC lifted its holdings in shares of Laboratory Co. of America by 3,660.0% during the third quarter. True Wealth Design LLC now owns 188 shares of the medical research company's stock valued at $42,000 after purchasing an additional 183 shares during the last quarter. Hedge funds and other institutional investors own 95.94% of the company's stock.
Laboratory Co. of America Stock Up 1.8 %
Shares of LH stock traded up $4.09 during trading hours on Wednesday, reaching $236.74. 776,735 shares of the stock were exchanged, compared to its average volume of 624,039. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $258.59. The firm has a market capitalization of $19.82 billion, a P/E ratio of 26.84, a P/E/G ratio of 1.71 and a beta of 1.12. The business's fifty day moving average is $244.45 and its two-hundred day moving average is $234.86.
Laboratory Co. of America (NYSE:LH - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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%. As a group, research analysts expect that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.
Laboratory Co. of America Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th were given a dividend of $0.72 per share. The ex-dividend date was Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a yield of 1.22%. Laboratory Co. of America's payout ratio is 32.65%.
Insider Activity at Laboratory Co. of America
In other news, Director Kerrii B. Anderson sold 500 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $255.63, for a total value of $127,815.00. Following the completion of the sale, the director now owns 13,166 shares in the company, valued at approximately $3,365,624.58. This trade represents a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Amy B. Summy sold 226 shares of the business's stock in a transaction dated 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 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. In the last three months, insiders have sold 15,258 shares of company stock valued at $3,753,177. Insiders own 0.85% of the company's stock.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on the company. UBS Group dropped their price target on 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. Evercore ISI raised shares of Laboratory Co. of America from an "in-line" rating to an "outperform" rating and increased their price objective for the company from $260.00 to $265.00 in a report on Tuesday, January 7th. Morgan Stanley boosted their target price on Laboratory Co. of America from $260.00 to $270.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. Redburn Atlantic initiated coverage on shares of Laboratory Co. of America in a research note on Wednesday. They issued a "buy" rating and a $276.00 price objective for the company. Finally, Jefferies Financial Group increased their price target on Laboratory Co. of America from $275.00 to $290.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $270.38.
Read Our Latest Analysis on LH
Laboratory Co. of America Company Profile
(
Free Report)
Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.
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