Laboratory Co. of America Holdings (NYSE:LH) Position Lessened by Iridian Asset Management LLC CT

Iridian Asset Management LLC CT decreased its stake in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 7.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 20,495 shares of the medical research company's stock after selling 1,721 shares during the quarter. Laboratory Co. of America comprises 1.3% of Iridian Asset Management LLC CT's portfolio, making the stock its 28th biggest holding. Iridian Asset Management LLC CT's holdings in Laboratory Co. of America were worth $4,700,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC grew its position in Laboratory Co. of America by 16.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,865,460 shares of the medical research company's stock valued at $416,893,000 after acquiring an additional 263,105 shares during the last quarter. FMR LLC grew its holdings in shares of Laboratory Co. of America by 17.0% in the third quarter. FMR LLC now owns 1,586,397 shares of the medical research company's stock worth $354,528,000 after purchasing an additional 230,708 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Laboratory Co. of America by 9.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company's stock valued at $431,405,000 after buying an additional 167,137 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Laboratory Co. of America by 22.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 577,189 shares of the medical research company's stock valued at $128,990,000 after buying an additional 105,443 shares during the period. Finally, River Road Asset Management LLC increased its position in shares of Laboratory Co. of America by 37.8% during the third quarter. River Road Asset Management LLC now owns 284,097 shares of the medical research company's stock worth $63,490,000 after acquiring an additional 77,921 shares during the period. Hedge funds and other institutional investors own 95.94% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on LH. Robert W. Baird raised their target price on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the company an "outperform" rating in a research report on Friday, October 25th. StockNews.com raised shares of Laboratory Co. of America from a "hold" rating to a "buy" rating in a research note on Friday. HSBC raised Laboratory Co. of America from a "hold" rating to a "buy" rating in a research report on Wednesday, October 30th. Morgan Stanley boosted their price target on 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. Finally, UBS Group cut their target price on 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. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Laboratory Co. of America has an average rating of "Moderate Buy" and an average target price of $265.31.

Laboratory Co. of America Trading Down 0.1 %

Shares of NYSE LH traded down $0.22 during midday trading on Tuesday, reaching $244.86. 227,934 shares of the stock were exchanged, compared to its average volume of 595,057. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $258.59. The stock has a market capitalization of $20.48 billion, a P/E ratio of 27.76, a PEG ratio of 1.84 and a beta of 1.07. The company has a 50 day simple moving average of $236.76 and a 200 day simple moving average of $230.24. 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 posted its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 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%. As a group, equities analysts expect that Laboratory Co. of America Holdings will post 15.96 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $2.88 annualized dividend and a dividend yield of 1.18%. Laboratory Co. of America's dividend payout ratio (DPR) is 32.65%.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, CMO Amy B. Summy sold 3,672 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $238.91, for a total transaction of $877,277.52. Following the sale, the chief marketing officer now owns 4,318 shares in the company, valued at approximately $1,031,613.38. This represents a 45.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Der Vaart Sandra D. Van sold 1,000 shares of the firm's stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $239.42, for a total transaction of $239,420.00. Following the sale, the executive vice president now directly owns 2,670 shares in the company, valued at $639,251.40. This represents a 27.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,383 shares of company stock valued at $4,408,373. 0.85% of the stock is owned by company insiders.

Laboratory Co. of America Profile

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