State of Alaska Department of Revenue Lowers Holdings in Laboratory Co. of America Holdings (NYSE:LH)

State of Alaska Department of Revenue cut its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 30.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,117 shares of the medical research company's stock after selling 4,390 shares during the quarter. State of Alaska Department of Revenue's holdings in Laboratory Co. of America were worth $2,319,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in LH. SouthState Corp bought a new stake in shares of Laboratory Co. of America in the third quarter worth about $28,000. Horizon Bancorp Inc. IN purchased a new position in Laboratory Co. of America in the third quarter worth about $29,000. Fortitude Family Office LLC grew its position in Laboratory Co. of America by 312.5% in the fourth quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company's stock worth $30,000 after acquiring an additional 100 shares in the last quarter. Riverview Trust Co grew its position in Laboratory Co. of America by 172.6% in the third quarter. Riverview Trust Co now owns 169 shares of the medical research company's stock worth $38,000 after acquiring an additional 107 shares in the last quarter. Finally, Concord Wealth Partners grew its position in Laboratory Co. of America by 43.3% in the third quarter. Concord Wealth Partners now owns 172 shares of the medical research company's stock worth $38,000 after acquiring an additional 52 shares in the last quarter. 95.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on LH. UBS Group dropped their price target on Laboratory Co. of America from $293.00 to $286.00 and set a "buy" rating for the company in a research report on Tuesday, January 28th. Barclays dropped their price target on Laboratory Co. of America from $271.00 to $260.00 and set an "equal weight" rating for the company in a research report on Friday, February 7th. Hsbc Global Res upgraded Laboratory Co. of America from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 30th. Morgan Stanley lifted 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, Evercore ISI upgraded Laboratory Co. of America from an "in-line" rating to an "outperform" rating and boosted their target price for the company from $260.00 to $265.00 in a research report on Tuesday, January 7th. Three research 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, Laboratory Co. of America currently has a consensus rating of "Moderate Buy" and an average target price of $265.31.

Laboratory Co. of America Stock Up 0.8 %

NYSE:LH traded up $1.87 during trading hours on Friday, reaching $246.74. The company's stock had a trading volume of 565,887 shares, compared to its average volume of 607,910. The company has a market capitalization of $20.64 billion, a P/E ratio of 27.98, a price-to-earnings-growth ratio of 1.84 and a beta of 1.07. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $258.59. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44. The stock has a 50 day moving average price of $237.13 and a two-hundred day moving average price of $230.66.

Laboratory Co. of America (NYSE:LH - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 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%. Equities analysts predict that Laboratory Co. of America Holdings will post 15.96 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Thursday, February 27th. Laboratory Co. of America's dividend payout ratio (DPR) is 32.65%.

Insider Transactions at Laboratory Co. of America

In other news, EVP Glenn A. Eisenberg sold 11,711 shares of the company's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $240.43, for a total transaction of $2,815,675.73. Following the transaction, the executive vice president now directly owns 31,289 shares of the company's stock, valued at approximately $7,522,814.27. This represents a 27.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 1,000 shares of the business's stock in a transaction on Thursday, November 21st. The shares were 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 trade represents a 27.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,504 shares of company stock valued at $5,905,692. Corporate insiders own 0.85% of the company's stock.

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.