O Shaughnessy Asset Management LLC Buys 35,559 Shares of Laboratory Co. of America Holdings (NYSE:LH)

O Shaughnessy Asset Management LLC boosted its position in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 275.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 48,475 shares of the medical research company's stock after purchasing an additional 35,559 shares during the quarter. O Shaughnessy Asset Management LLC owned approximately 0.06% of Laboratory Co. of America worth $11,116,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LH. California Public Employees Retirement System lifted its holdings in shares of Laboratory Co. of America by 0.3% during the fourth quarter. California Public Employees Retirement System now owns 352,439 shares of the medical research company's stock valued at $80,821,000 after purchasing an additional 1,001 shares during the last quarter. Transamerica Financial Advisors Inc. increased its position in Laboratory Co. of America by 1,506.3% during the 4th quarter. Transamerica Financial Advisors Inc. now owns 257 shares of the medical research company's stock valued at $59,000 after buying an additional 241 shares in the last quarter. Intrust Bank NA boosted its holdings in Laboratory Co. of America by 4.7% in the fourth quarter. Intrust Bank NA now owns 3,177 shares of the medical research company's stock worth $729,000 after acquiring an additional 144 shares in the last quarter. Allstate Corp purchased a new stake in shares of Laboratory Co. of America in the fourth quarter worth $591,000. Finally, Brown Brothers Harriman & Co. increased its holdings in shares of Laboratory Co. of America by 46.4% during the fourth quarter. Brown Brothers Harriman & Co. now owns 653 shares of the medical research company's stock valued at $150,000 after acquiring an additional 207 shares in the last quarter. Hedge funds and other institutional investors own 95.94% of the company's stock.

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Laboratory Co. of America Stock Performance

NYSE:LH traded down $10.97 on Friday, hitting $222.49. The stock had a trading volume of 1,424,173 shares, compared to its average volume of 629,067. The business's 50-day simple moving average is $243.63 and its two-hundred day simple moving average is $234.90. The stock has a market cap of $18.62 billion, a price-to-earnings ratio of 25.23, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12. 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 quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67.

Laboratory Co. of America (NYSE:LH - Get Free Report) last announced its earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) for the quarter, beating 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, research analysts predict that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th were given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date was Thursday, February 27th. Laboratory Co. of America's payout ratio is 32.65%.

Insider Transactions at Laboratory Co. of America

In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 1,000 shares of the stock in a transaction on 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 in the company, valued at approximately $2,989,670. This represents a 7.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Der Vaart Sandra D. Van sold 1,314 shares of the business's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $251.30, for a total value of $330,208.20. Following the completion of the transaction, the executive vice president now owns 2,171 shares in the company, valued at $545,572.30. The trade was a 37.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,258 shares of company stock valued at $3,753,177 over the last quarter. 0.85% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on LH. Redburn Atlantic began coverage on shares of Laboratory Co. of America in a research report on Wednesday. They set a "buy" rating and a $276.00 price objective on the stock. Morgan Stanley increased their price target on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company an "overweight" rating in a report on Tuesday, December 17th. Piper Sandler raised their price target on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the company a "neutral" rating in a research report on Monday, February 10th. Citigroup raised Laboratory Co. of America from a "neutral" rating to a "buy" rating and upped their price objective for the company from $250.00 to $300.00 in a research report on Tuesday, March 4th. Finally, Barclays reduced their target price on Laboratory Co. of America from $271.00 to $260.00 and set an "equal weight" rating for the company in a report on Friday, February 7th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $270.38.

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.