Alliancebernstein L.P. Acquires 380,624 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Alliancebernstein L.P. raised its stake in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 59.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,021,104 shares of the medical research company's stock after purchasing an additional 380,624 shares during the period. Alliancebernstein L.P. owned 1.22% of Laboratory Co. of America worth $234,160,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of LH. Graney & King LLC purchased a new stake in Laboratory Co. of America in the 4th quarter worth $26,000. Fortitude Family Office LLC boosted its stake in shares of 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 during the period. Geneos Wealth Management Inc. grew its position in shares of Laboratory Co. of America by 309.8% during 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 bought a new stake in Laboratory Co. of America during the 4th quarter valued at approximately $39,000. Finally, True Wealth Design LLC lifted its holdings in Laboratory Co. of America by 3,660.0% in the 3rd quarter. True Wealth Design LLC now owns 188 shares of the medical research company's stock worth $42,000 after purchasing an additional 183 shares in the last quarter. Hedge funds and other institutional investors own 95.94% of the company's stock.

Laboratory Co. of America Trading Down 4.7 %

Shares of Laboratory Co. of America stock traded down $10.97 during trading on Friday, hitting $222.49. The stock had a trading volume of 1,424,173 shares, compared to its average volume of 629,067. 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 current ratio of 1.44 and a quick ratio of 1.30. The firm's fifty day simple moving average is $243.63 and its 200-day simple moving average is $234.90. The stock has a market cap of $18.62 billion, a PE ratio of 25.23, a PEG ratio of 1.71 and a beta of 1.12.

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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 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 fiscal year.

Laboratory Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th were given a dividend of $0.72 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $2.88 annualized dividend and a dividend yield of 1.29%. Laboratory Co. of America's dividend payout ratio (DPR) is 32.65%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LH. Jefferies Financial Group lifted their price objective on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. UBS Group reduced their price target on shares of Laboratory Co. of America from $293.00 to $286.00 and set a "buy" rating on the stock in a report on Tuesday, January 28th. Piper Sandler increased their price objective on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the company a "neutral" rating in a report on Monday, February 10th. Redburn Atlantic began coverage on Laboratory Co. of America in a research report on Wednesday. They set a "buy" rating and a $276.00 price objective for the company. Finally, Morgan Stanley boosted their target price 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. Four 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. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $270.38.

Insider Activity

In other Laboratory Co. of America news, COO Mark S. Schroeder sold 5,339 shares of the firm's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $249.23, for a total transaction of $1,330,638.97. Following the transaction, the chief operating officer now directly owns 4,960 shares in the company, valued at $1,236,180.80. This trade represents a 51.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kerrii B. Anderson sold 1,000 shares of the company's 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 of the company's stock, valued at $2,989,670. This represents a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,258 shares of company stock valued at $3,753,177. 0.85% of the stock is currently owned by company insiders.

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.