Cinctive Capital Management LP Buys New Position in Laboratory Co. of America Holdings (NYSE:LH)

Cinctive Capital Management LP bought a new stake in Laboratory Co. of America Holdings (NYSE:LH - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 25,091 shares of the medical research company's stock, valued at approximately $5,754,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of LH. Huntington National Bank raised its stake in Laboratory Co. of America by 12.5% in the fourth quarter. Huntington National Bank now owns 1,261 shares of the medical research company's stock valued at $289,000 after buying an additional 140 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Laboratory Co. of America during the 4th quarter worth about $191,000. Geode Capital Management LLC boosted its holdings in shares of Laboratory Co. of America by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 2,003,998 shares of the medical research company's stock worth $458,334,000 after buying an additional 39,255 shares during the period. Tradewinds LLC. acquired a new position in Laboratory Co. of America in the 4th quarter valued at about $244,000. Finally, National Bank of Canada FI raised its holdings in Laboratory Co. of America by 301.5% in the 4th quarter. National Bank of Canada FI now owns 39,171 shares of the medical research company's stock valued at $8,983,000 after acquiring an additional 29,414 shares during the period. Institutional investors own 95.94% of the company's stock.

Laboratory Co. of America Price Performance

Shares of NYSE:LH traded down $4.01 during trading on Monday, hitting $221.00. 324,181 shares of the company were exchanged, compared to its average volume of 643,334. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $258.59. The company has a market capitalization of $18.50 billion, a P/E ratio of 25.04, a price-to-earnings-growth ratio of 1.71 and a beta of 0.99. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67. The business's 50 day moving average is $243.63 and its 200-day moving average is $234.95.

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Laboratory Co. of America (NYSE:LH - Get Free Report) last issued its 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%. Equities analysts forecast that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The firm also recently disclosed 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 was Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a yield of 1.30%. Laboratory Co. of America's dividend payout ratio (DPR) is presently 32.65%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. StockNews.com upgraded Laboratory Co. of America from a "hold" rating to a "buy" rating in a report on Sunday. Bank of America upped their price objective 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. Piper Sandler lifted their target price on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. Jefferies Financial Group upped their price target 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. Finally, Citigroup upgraded shares of Laboratory Co. of America from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $250.00 to $300.00 in a research note on Tuesday, March 4th. Three investment 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 stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $270.38.

Insider Buying and Selling

In other news, Director Kerrii B. Anderson sold 1,000 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $235.00, for a total value of $235,000.00. Following the completion of the sale, the director now owns 12,722 shares of the company's stock, valued at approximately $2,989,670. This represents a 7.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 completion of the transaction, the executive vice president now owns 5,302 shares in the company, 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. Insiders have sold a total of 15,258 shares of company stock worth $3,753,177 in the last ninety days. Company insiders own 0.85% of the company's stock.

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.