Envestnet Asset Management Inc. Has $67.45 Million Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Envestnet Asset Management Inc. lifted its holdings in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 3.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 294,141 shares of the medical research company's stock after purchasing an additional 9,432 shares during the period. Envestnet Asset Management Inc. owned about 0.35% of Laboratory Co. of America worth $67,452,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Graney & King LLC purchased a new position in Laboratory Co. of America during the 4th quarter valued at approximately $26,000. Fortitude Family Office LLC increased its position in shares of Laboratory Co. of America by 312.5% during the 4th quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company's stock valued at $30,000 after purchasing an additional 100 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in Laboratory Co. of America by 309.8% during the 4th quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company's stock valued at $39,000 after buying an additional 127 shares during the period. Human Investing LLC bought a new stake in Laboratory Co. of America in the fourth quarter worth $39,000. Finally, Heck Capital Advisors LLC bought a new stake in Laboratory Co. of America in the fourth quarter worth $44,000. Hedge funds and other institutional investors own 95.94% of the company's stock.

Insider Buying and Selling

In related news, Director Kerrii B. Anderson sold 500 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $255.63, for a total transaction of $127,815.00. Following the completion of the sale, the director now directly owns 13,166 shares of the company's stock, valued at $3,365,624.58. This represents a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Amy B. Summy sold 758 shares of the stock in a transaction on Friday, March 28th. The shares were sold at an average price of $231.67, for a total value of $175,605.86. Following the completion of 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. Insiders have sold 14,258 shares of company stock worth $3,518,177 in the last quarter. 0.85% of the stock is owned by insiders.

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Laboratory Co. of America Stock Performance

Shares of LH traded down $1.98 during mid-day trading on Tuesday, reaching $226.06. The company had a trading volume of 83,930 shares, compared to its average volume of 636,865. The stock has a 50 day moving average of $239.60 and a two-hundred day moving average of $234.95. 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 stock has a market capitalization of $18.91 billion, a P/E ratio of 25.60, a PEG ratio of 1.71 and a beta of 0.99. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $258.59.

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 for the quarter, topping analysts' consensus estimates 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, analysts expect that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Thursday, May 29th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.27%. Laboratory Co. of America's payout ratio is currently 32.65%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on LH shares. StockNews.com raised shares of Laboratory Co. of America from a "hold" rating to a "buy" rating in a research note on Sunday, April 6th. Morgan Stanley increased their price objective on shares of 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. Barclays reduced their price target on 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. Redburn Atlantic assumed coverage on Laboratory Co. of America in a research report on Wednesday, April 2nd. They issued a "buy" rating and a $276.00 price objective on the stock. Finally, Evercore ISI upgraded Laboratory Co. of America from an "in-line" rating to an "outperform" rating and lifted their target price for the stock from $260.00 to $265.00 in a research report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Laboratory Co. of America currently has a consensus rating of "Moderate Buy" and a consensus target price of $268.77.

About Laboratory Co. of America

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.