Bridgewater Associates LP decreased its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 75.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,452 shares of the medical research company's stock after selling 113,426 shares during the quarter. Bridgewater Associates LP's holdings in Laboratory Co. of America were worth $8,359,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of LH. Capital City Trust Co. FL grew its position in 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 valued at $3,567,000 after acquiring an additional 223 shares during the last quarter. Wealthcare Advisory Partners LLC raised its position in 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 lifted its position in shares of Laboratory Co. of America by 51.2% in the 4th 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 during the period. Barclays PLC increased its holdings in Laboratory Co. of America by 11.8% during the third 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 during the period. Finally, Nordea Investment Management AB raised its stake in Laboratory Co. of America by 7.0% in the fourth quarter. Nordea Investment Management AB now owns 1,052,927 shares of the medical research company's stock worth $243,321,000 after buying an additional 68,974 shares in the last quarter. Institutional investors own 95.94% of the company's stock.
Insider Activity at Laboratory Co. of America
In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,121 shares of the 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 sale, the chief executive officer now owns 86,445 shares of the company's stock, valued at $21,146,175.90. This trade represents a 6.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Amy B. Summy sold 758 shares of the business's stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $231.67, for a total transaction of $175,605.86. Following the transaction, the executive vice president now owns 5,302 shares of the company's stock, valued at $1,228,314.34. This trade represents a 12.51 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,258 shares of company stock worth $3,518,177. Insiders own 0.84% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on LH shares. Barclays lowered their price target on shares of Laboratory Co. of America from $260.00 to $240.00 and set an "equal weight" rating on the stock in a report on Thursday, April 10th. Truist Financial reduced their target price on Laboratory Co. of America from $285.00 to $274.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Piper Sandler boosted their price target on 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. UBS Group lowered their target price on shares of Laboratory Co. of America from $293.00 to $286.00 and set a "buy" rating for the company in a research note on Tuesday, January 28th. Finally, Redburn Atlantic initiated coverage on Laboratory Co. of America in a research note on Wednesday, April 2nd. They issued a "buy" rating and a $276.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Laboratory Co. of America presently has a consensus rating of "Moderate Buy" and a consensus target price of $268.77.
Check Out Our Latest Research Report on LH
Laboratory Co. of America Price Performance
Shares of NYSE:LH traded up $7.68 during trading on Tuesday, reaching $219.90. The stock had a trading volume of 171,611 shares, compared to its average volume of 636,678. The business has a fifty day moving average price of $236.97 and a 200-day moving average price of $234.96. The stock has a market cap of $18.40 billion, a PE ratio of 24.97, a PEG ratio of 1.71 and a beta of 0.99. 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 1-year low of $191.97 and a 1-year high of $258.59.
Laboratory Co. of America (NYSE:LH - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) 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%. 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 business also recently declared 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 dividend yield of 1.31%. Laboratory Co. of America's dividend payout ratio is presently 32.65%.
About Laboratory Co. of America
(
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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