Dana Investment Advisors Inc. Has $1.99 Million Position in Laboratory Co. of America Holdings (NYSE:LH)

Dana Investment Advisors Inc. lowered its position in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 10.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,678 shares of the medical research company's stock after selling 1,006 shares during the period. Dana Investment Advisors Inc.'s holdings in Laboratory Co. of America were worth $1,990,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in LH. Arizona State Retirement System grew its holdings in Laboratory Co. of America by 1.0% during the fourth quarter. Arizona State Retirement System now owns 24,388 shares of the medical research company's stock valued at $5,593,000 after purchasing an additional 237 shares during the last quarter. Verdence Capital Advisors LLC grew its holdings in Laboratory Co. of America by 124.5% during the fourth quarter. Verdence Capital Advisors LLC now owns 4,296 shares of the medical research company's stock valued at $985,000 after purchasing an additional 2,382 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in Laboratory Co. of America during the fourth quarter valued at approximately $16,512,000. Assetmark Inc. grew its holdings in Laboratory Co. of America by 13.9% during the fourth quarter. Assetmark Inc. now owns 57,192 shares of the medical research company's stock valued at $13,115,000 after purchasing an additional 6,968 shares during the last quarter. Finally, Keybank National Association OH grew its holdings in Laboratory Co. of America by 10.3% during the fourth quarter. Keybank National Association OH now owns 1,945 shares of the medical research company's stock valued at $446,000 after purchasing an additional 181 shares during the last quarter. Institutional investors and hedge funds own 95.94% of the company's stock.

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Laboratory Co. of America Price Performance

Shares of NYSE LH traded down $1.07 during midday trading on Friday, reaching $253.00. 801,584 shares of the company traded hands, compared to its average volume of 607,434. The firm has a market cap of $21.18 billion, a PE ratio of 28.68, a PEG ratio of 1.71 and a beta of 1.12. The stock's 50-day simple moving average is $243.68 and its 200-day simple moving average is $233.67. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $258.59. 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 (NYSE:LH - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) for the quarter, beating 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, equities analysts anticipate that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.14%. Laboratory Co. of America's payout ratio is presently 32.65%.

Analyst Upgrades and Downgrades

Several brokerages have commented on LH. Evercore ISI upgraded Laboratory Co. of America from an "in-line" rating to an "outperform" rating and increased their price target for the company from $260.00 to $265.00 in a report on Tuesday, January 7th. UBS Group lowered their price objective 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. Piper Sandler raised their price objective 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. Citigroup upgraded shares of Laboratory Co. of America from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $250.00 to $300.00 in a research note on Tuesday. Finally, Bank of America raised their price objective on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. Three research 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 MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $268.38.

Insider Buying and Selling at Laboratory Co. of America

In other news, COO Mark S. Schroeder sold 5,339 shares of the firm's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $249.23, for a total value of $1,330,638.97. Following the completion of the sale, the chief operating officer now directly owns 4,960 shares in the company, valued at approximately $1,236,180.80. This trade represents a 51.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Adam H. Schechter sold 6,121 shares of the firm's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $244.62, for a total value of $1,497,319.02. Following the completion of the sale, the chief executive officer now owns 86,445 shares of the company's stock, valued at approximately $21,146,175.90. This trade represents a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,500 shares of company stock valued at $3,577,572. 0.85% of the stock is currently owned by company insiders.

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.