Rhumbline Advisers Lowers Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Rhumbline Advisers lessened its holdings in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 1.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 142,935 shares of the medical research company's stock after selling 2,459 shares during the period. Rhumbline Advisers owned about 0.17% of Laboratory Co. of America worth $32,778,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Mcrae Capital Management Inc. grew its stake in shares of Laboratory Co. of America by 1.6% in the 4th quarter. Mcrae Capital Management Inc. now owns 84,446 shares of the medical research company's stock worth $19,365,000 after acquiring an additional 1,295 shares in the last quarter. Asset Management One Co. Ltd. lifted its position in shares of Laboratory Co. of America by 3.8% during the 4th quarter. Asset Management One Co. Ltd. now owns 32,799 shares of the medical research company's stock worth $7,558,000 after buying an additional 1,205 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Laboratory Co. of America by 2.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,916,505 shares of the medical research company's stock worth $437,357,000 after buying an additional 51,045 shares during the last quarter. Mill Creek Capital Advisors LLC purchased a new position in Laboratory Co. of America in the fourth quarter worth $347,000. Finally, Kestra Private Wealth Services LLC increased its position in shares of Laboratory Co. of America by 132.6% during the 4th quarter. Kestra Private Wealth Services LLC now owns 3,056 shares of the medical research company's stock valued at $701,000 after purchasing an additional 1,742 shares during the last quarter. 95.94% of the stock is owned by institutional investors.

Insider Buying and Selling at Laboratory Co. of America

In other 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 stock was sold at an average price of $244.62, for a total value of $1,497,319.02. Following the sale, the chief executive officer now directly owns 86,445 shares in the company, valued at approximately $21,146,175.90. This trade represents a 6.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dwight Gary Gilliland sold 1,000 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $241.00, for a total value of $241,000.00. Following the transaction, the director now owns 7,712 shares of the company's stock, valued at approximately $1,858,592. This represents a 11.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,832 shares of company stock valued at $4,788,995 in the last quarter. Company insiders own 0.85% of the company's stock.

Laboratory Co. of America Trading Up 0.3 %

NYSE LH traded up $0.69 during trading on Friday, hitting $249.86. 410,967 shares of the company's stock traded hands, compared to its average volume of 593,562. The firm has a market cap of $20.90 billion, a P/E ratio of 28.33, a PEG ratio of 1.70 and a beta of 1.07. The stock has a fifty day moving average of $238.57 and a two-hundred day moving average of $231.55. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $258.59.

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 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%. As a group, sell-side analysts expect that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be issued a dividend of $0.72 per share. The ex-dividend date is Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a yield of 1.15%. Laboratory Co. of America's dividend payout ratio is currently 32.65%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on LH shares. Morgan Stanley raised their price target 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. Hsbc Global Res upgraded Laboratory Co. of America from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 30th. Jefferies Financial Group increased their price target on Laboratory Co. of America from $275.00 to $290.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Robert W. Baird lifted their price objective on Laboratory Co. of America from $282.00 to $289.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. Finally, StockNews.com raised shares of Laboratory Co. of America from a "hold" rating to a "buy" rating in a report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Laboratory Co. of America has an average rating of "Moderate Buy" and an average target price of $265.31.

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.