Te Ahumairangi Investment Management Ltd Sells 3,390 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Te Ahumairangi Investment Management Ltd reduced its stake in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 13.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,207 shares of the medical research company's stock after selling 3,390 shares during the quarter. Te Ahumairangi Investment Management Ltd's holdings in Laboratory Co. of America were worth $5,093,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in LH. Graney & King LLC acquired a new position in shares of Laboratory Co. of America during the fourth quarter worth approximately $26,000. Fortitude Family Office LLC boosted its position in Laboratory Co. of America by 312.5% during the 4th 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 during the period. Geneos Wealth Management Inc. grew its stake in shares of Laboratory Co. of America by 309.8% in the fourth quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company's stock worth $39,000 after purchasing an additional 127 shares in the last quarter. Human Investing LLC acquired a new position in shares of Laboratory Co. of America during the fourth quarter valued at $39,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of Laboratory Co. of America during the fourth quarter valued at about $44,000. 95.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on LH shares. Bank of America raised their target price on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Citigroup raised Laboratory Co. of America from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $250.00 to $300.00 in a report on Tuesday, March 4th. Piper Sandler increased their price target on Laboratory Co. of America from $240.00 to $260.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Evercore ISI raised Laboratory Co. of America from an "in-line" rating to an "outperform" rating and boosted their price objective for the stock from $260.00 to $265.00 in a research note on Tuesday, January 7th. Finally, Barclays decreased 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 research note on Friday, February 7th. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Laboratory Co. of America has an average rating of "Moderate Buy" and an average target price of $270.38.

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Insiders Place Their Bets

In other news, EVP Amy B. Summy sold 758 shares of the firm's stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $231.67, for a total transaction of $175,605.86. Following the completion of the sale, the executive vice president now directly owns 5,302 shares of the company's stock, valued at $1,228,314.34. This trade represents a 12.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kerrii B. Anderson sold 500 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $255.63, for a total value of $127,815.00. Following the completion of the sale, the director now directly owns 13,166 shares of the company's stock, valued at approximately $3,365,624.58. The trade was a 3.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,258 shares of company stock worth $3,753,177 in the last quarter. 0.85% of the stock is currently owned by corporate insiders.

Laboratory Co. of America Trading Down 4.7 %

Shares of LH stock traded down $10.97 during trading hours on Friday, reaching $222.49. 1,424,173 shares of the stock traded hands, compared to its average volume of 629,067. The business has a fifty day moving average price of $243.63 and a 200 day moving average price of $234.90. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year 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. The firm has a market capitalization of $18.62 billion, a PE ratio of 25.23, a PEG ratio of 1.71 and a beta of 1.12.

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

Laboratory Co. of America Dividend Announcement

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

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.