New York State Teachers Retirement System Sells 2,880 Shares of Laboratory Co. of America Holdings (NYSE:LH)

New York State Teachers Retirement System decreased its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 4.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,580 shares of the medical research company's stock after selling 2,880 shares during the quarter. New York State Teachers Retirement System owned about 0.08% of Laboratory Co. of America worth $15,268,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. OneDigital Investment Advisors LLC grew its position in shares of Laboratory Co. of America by 115.7% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 6,088 shares of the medical research company's stock worth $1,361,000 after buying an additional 3,265 shares during the period. Alexander Randolph Advisory Inc. bought a new position in Laboratory Co. of America during the 3rd quarter worth approximately $955,000. Wealthcare Advisory Partners LLC grew its holdings in Laboratory Co. of America by 23.9% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 2,543 shares of the medical research company's stock valued at $583,000 after purchasing an additional 490 shares during the period. Mutual of America Capital Management LLC bought a new stake in Laboratory Co. of America in the third quarter valued at approximately $2,316,000. Finally, Barclays PLC increased its stake in Laboratory Co. of America by 11.8% in the third quarter. Barclays PLC now owns 620,721 shares of the medical research company's stock valued at $138,718,000 after purchasing an additional 65,356 shares in the last quarter. 95.94% of the stock is owned by institutional investors.

Laboratory Co. of America Stock Up 0.5 %

Shares of NYSE LH traded up $1.33 during mid-day trading on Thursday, hitting $249.15. The company had a trading volume of 494,858 shares, compared to its average volume of 599,259. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67. The firm has a 50-day simple moving average of $238.23 and a two-hundred day simple moving average of $231.42. The company has a market capitalization of $20.84 billion, a PE ratio of 28.25, a price-to-earnings-growth ratio of 1.69 and a beta of 1.07. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year 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 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 analysts expect that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th will be paid a $0.72 dividend. The ex-dividend date is Thursday, February 27th. This represents a $2.88 annualized dividend and a yield of 1.16%. Laboratory Co. of America's dividend payout ratio is 32.65%.

Insider Buying and Selling

In related news, EVP Glenn A. Eisenberg sold 11,711 shares of the business's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $240.43, for a total value of $2,815,675.73. Following the completion of the sale, the executive vice president now directly owns 31,289 shares in the company, valued at $7,522,814.27. The trade was a 27.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Adam H. Schechter sold 6,121 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 86,445 shares in the company, valued at $21,146,175.90. The trade was a 6.61 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,504 shares of company stock valued at $5,666,272. 0.85% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on LH shares. Evercore ISI raised shares of Laboratory Co. of America from an "in-line" rating to an "outperform" rating and boosted their price target for the company from $260.00 to $265.00 in a report on Tuesday, January 7th. UBS Group lowered their price target on Laboratory Co. of America from $293.00 to $286.00 and set a "buy" rating for the company in a report on Tuesday, January 28th. Morgan Stanley lifted their price objective on Laboratory Co. of America from $260.00 to $270.00 and gave the company an "overweight" rating in a report on Tuesday, December 17th. Jefferies Financial Group raised their target price on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Finally, HSBC raised shares of Laboratory Co. of America from a "hold" rating to a "buy" rating in a research report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Laboratory Co. of America presently has an average rating of "Moderate Buy" and an average target price of $265.31.

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.