Invesco Ltd. Trims Stock Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Invesco Ltd. decreased its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 12.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,102,247 shares of the medical research company's stock after selling 160,163 shares during the period. Invesco Ltd. owned approximately 1.32% of Laboratory Co. of America worth $252,767,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in LH. Quantinno Capital Management LP raised its stake in shares of Laboratory Co. of America by 6.9% during the 3rd quarter. Quantinno Capital Management LP now owns 3,194 shares of the medical research company's stock worth $714,000 after purchasing an additional 206 shares during the period. EP Wealth Advisors LLC raised its holdings in shares of Laboratory Co. of America by 15.8% during the 3rd quarter. EP Wealth Advisors LLC now owns 1,420 shares of the medical research company's stock valued at $317,000 after buying an additional 194 shares in the last quarter. National Bank of Canada FI increased its stake in Laboratory Co. of America by 1.3% in the 3rd quarter. National Bank of Canada FI now owns 9,757 shares of the medical research company's stock worth $2,180,000 after purchasing an additional 121 shares during the period. MML Investors Services LLC grew its stake in shares of Laboratory Co. of America by 0.4% in the third quarter. MML Investors Services LLC now owns 19,179 shares of the medical research company's stock worth $4,286,000 after purchasing an additional 82 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Laboratory Co. of America in the 3rd quarter worth about $1,053,000. 95.94% of the stock is owned by institutional investors.

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Insider Buying and Selling at Laboratory Co. of America

In related news, 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 transaction of $1,497,319.02. Following the sale, the chief executive officer now owns 86,445 shares in the company, valued at approximately $21,146,175.90. This trade represents a 6.61 % 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 hyperlink. Also, CMO Amy B. Summy sold 226 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $250.40, for a total transaction of $56,590.40. Following the sale, the chief marketing officer now directly owns 4,544 shares in the company, valued at approximately $1,137,817.60. The trade was a 4.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,258 shares of company stock worth $3,518,177. Company insiders own 0.85% of the company's stock.

Analyst Upgrades and Downgrades

LH has been the topic of several recent research reports. Truist Financial cut their price target on Laboratory Co. of America from $285.00 to $274.00 and set a "buy" rating on the stock in a research note on Friday. Morgan Stanley upped their target price on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 17th. Jefferies Financial Group raised 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 report on Thursday, February 6th. UBS Group reduced their target price on Laboratory Co. of America from $293.00 to $286.00 and set a "buy" rating for the company in a report on Tuesday, January 28th. Finally, Citigroup raised shares of Laboratory Co. of America from a "neutral" rating to a "buy" rating and raised their price target for the company from $250.00 to $300.00 in a report on Tuesday, March 4th. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $268.77.

Laboratory Co. of America Stock Down 1.0 %

Laboratory Co. of America stock traded down $2.19 during midday trading on Tuesday, reaching $225.85. The company's stock had a trading volume of 297,905 shares, compared to its average volume of 637,758. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $258.59. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30. The stock has a market capitalization of $18.90 billion, a P/E ratio of 25.61, a PEG ratio of 1.71 and a beta of 0.99. The stock's 50-day simple moving average is $239.60 and its 200-day simple moving average is $234.95.

Laboratory Co. of America (NYSE:LH - Get Free Report) last posted 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 net margin of 5.73% and a return on equity of 15.29%. On average, sell-side analysts expect that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The firm 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 yield of 1.28%. Laboratory Co. of America's dividend payout ratio is presently 32.65%.

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.