FIL Ltd Sells 9,923 Shares of Laboratory Co. of America Holdings (NYSE:LH)

FIL Ltd decreased its position in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 2.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 382,444 shares of the medical research company's stock after selling 9,923 shares during the quarter. FIL Ltd owned 0.46% of Laboratory Co. of America worth $87,702,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of LH. Capital City Trust Co. FL grew its holdings in shares of Laboratory Co. of America by 1.5% during the 4th quarter. Capital City Trust Co. FL now owns 15,553 shares of the medical research company's stock valued at $3,567,000 after purchasing an additional 223 shares during the last quarter. Wealthcare Advisory Partners LLC boosted its position in Laboratory Co. of America by 23.9% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 2,543 shares of the medical research company's stock valued at $583,000 after buying an additional 490 shares in the last quarter. Bryn Mawr Capital Management LLC increased its holdings in shares of Laboratory Co. of America by 51.2% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 1,495 shares of the medical research company's stock worth $343,000 after buying an additional 506 shares in the last quarter. Barclays PLC lifted its stake in shares of Laboratory Co. of America by 11.8% in the 3rd quarter. Barclays PLC now owns 620,721 shares of the medical research company's stock valued at $138,718,000 after acquiring an additional 65,356 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of Laboratory Co. of America by 7.0% during the 4th quarter. Nordea Investment Management AB now owns 1,052,927 shares of the medical research company's stock valued at $243,321,000 after acquiring an additional 68,974 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several equities analysts have commented on LH shares. Evercore ISI upgraded Laboratory Co. of America from an "in-line" rating to an "outperform" rating and increased their target price for the company from $260.00 to $265.00 in a research report on Tuesday, January 7th. StockNews.com upgraded shares of Laboratory Co. of America from a "hold" rating to a "buy" rating in a research report on Sunday, April 6th. Citigroup upgraded shares of Laboratory Co. of America from a "neutral" rating to a "buy" rating and upped their price target for the company from $250.00 to $300.00 in a research report on Tuesday, March 4th. Truist Financial cut their price target on shares of Laboratory Co. of America from $285.00 to $274.00 and set a "buy" rating on the stock in a report on Friday. Finally, Morgan Stanley increased their price objective on Laboratory Co. of America from $260.00 to $270.00 and gave the company an "overweight" rating in a report on Tuesday, December 17th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $268.77.

Laboratory Co. of America Trading Down 1.1 %

LH traded down $2.41 during trading on Tuesday, hitting $225.63. The company's stock had a trading volume of 140,048 shares, compared to its average volume of 683,824. The firm has a market capitalization of $18.88 billion, a P/E ratio of 25.58, a PEG ratio of 1.71 and a beta of 0.99. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $258.59. The stock's fifty day moving average price is $239.60 and its 200-day moving average price is $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.

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

Laboratory Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Thursday, May 29th will be issued 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 currently 32.65%.

Insider Transactions at Laboratory Co. of America

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,121 shares of Laboratory Co. of America stock in a transaction that occurred 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 transaction, the chief executive officer now owns 86,445 shares of the company's stock, valued at $21,146,175.90. This trade represents a 6.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Amy B. Summy sold 226 shares of the company's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $250.40, for a total value of $56,590.40. Following the completion of the transaction, the chief marketing officer now directly owns 4,544 shares of the company's stock, valued at approximately $1,137,817.60. This represents a 4.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,258 shares of company stock valued at $3,518,177 over the last ninety days. 0.85% of the stock is currently owned by insiders.

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.