Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Legal & General Group Plc

Legal & General Group Plc reduced its stake in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 19.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 617,564 shares of the medical research company's stock after selling 144,776 shares during the period. Legal & General Group Plc owned 0.74% of Laboratory Co. of America worth $141,620,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Graney & King LLC acquired a new position in Laboratory Co. of America during the 4th quarter worth $26,000. Fortitude Family Office LLC grew its stake in shares of Laboratory Co. of America by 312.5% in the 4th quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company's stock valued at $30,000 after buying an additional 100 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Laboratory Co. of America by 309.8% during the 4th quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company's stock worth $39,000 after acquiring an additional 127 shares in the last quarter. Human Investing LLC acquired a new position in Laboratory Co. of America in the 4th quarter valued at $39,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of Laboratory Co. of America during the fourth quarter worth approximately $44,000. Institutional investors and hedge funds own 95.94% of the company's stock.

Insider Buying and Selling at Laboratory Co. of America

In other news, CEO Adam H. Schechter sold 6,121 shares of the firm's stock in a transaction dated 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 sale, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Amy B. Summy sold 758 shares of the stock in a transaction on Friday, March 28th. The shares were sold at an average price of $231.67, for a total value of $175,605.86. Following the sale, the executive vice president now directly owns 5,302 shares in the company, valued at $1,228,314.34. This trade represents a 12.51 % decrease in their position. 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 in the last three months. Company insiders own 0.85% of the company's stock.

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Laboratory Co. of America Trading Down 1.0 %

Shares of NYSE:LH traded down $2.21 during trading on Tuesday, reaching $225.83. The stock had a trading volume of 297,905 shares, compared to its average volume of 637,772. Laboratory Co. of America Holdings has a 52 week low of $191.97 and a 52 week 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 firm's fifty day moving average is $239.60 and its 200 day moving average is $234.95. The stock has a market cap of $18.89 billion, a price-to-earnings ratio of 25.61, a P/E/G ratio of 1.71 and a beta of 0.99.

Laboratory Co. of America (NYSE:LH - Get Free Report) last posted its 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 net margin of 5.73% and a return on equity of 15.29%. As a group, equities analysts forecast that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Investors 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 (DPR) is 32.65%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on LH shares. Barclays dropped their target price on shares of Laboratory Co. of America from $260.00 to $240.00 and set an "equal weight" rating for the company in a research report on Thursday, April 10th. Morgan Stanley raised their target price on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. Truist Financial dropped their price target on Laboratory Co. of America from $285.00 to $274.00 and set a "buy" rating on the stock in a research note on Friday. Redburn Atlantic began coverage on shares of Laboratory Co. of America in a report on Wednesday, April 2nd. They issued a "buy" rating and a $276.00 price objective on the stock. Finally, StockNews.com upgraded shares of Laboratory Co. of America from a "hold" rating to a "buy" rating in a research note on Sunday, April 6th. Three 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 company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $268.77.

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.