Lord Abbett & CO. LLC Has $114.94 Million Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

Lord Abbett & CO. LLC trimmed its position in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 20.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 501,200 shares of the medical research company's stock after selling 126,638 shares during the quarter. Lord Abbett & CO. LLC owned approximately 0.60% of Laboratory Co. of America worth $114,935,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Graney & King LLC bought a new stake in Laboratory Co. of America during the 4th quarter worth approximately $26,000. Fortitude Family Office LLC increased its holdings 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 valued at $30,000 after purchasing an additional 100 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in 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 valued at $39,000 after purchasing an additional 127 shares in the last quarter. Human Investing LLC acquired a new stake in Laboratory Co. of America during the 4th quarter valued at $39,000. Finally, Heck Capital Advisors LLC acquired a new stake in Laboratory Co. of America during the 4th quarter valued at $44,000. Institutional investors and hedge funds own 95.94% of the company's stock.

Insiders Place Their Bets

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,121 shares of Laboratory Co. of America stock in a transaction dated 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 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kerrii B. Anderson sold 500 shares of Laboratory Co. of America stock in a transaction dated 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 in the company, valued at $3,365,624.58. This represents a 3.66 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,258 shares of company stock worth $3,518,177. Corporate insiders own 0.84% of the company's stock.

Analyst Ratings Changes

LH has been the subject of a number of recent analyst reports. Truist Financial dropped their price target on Laboratory Co. of America from $285.00 to $274.00 and set a "buy" rating for the company in a report on Friday, April 11th. 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 report on Tuesday, January 28th. Evercore ISI raised Laboratory Co. of America from an "in-line" rating to an "outperform" rating and lifted their target price for the company from $260.00 to $265.00 in a research note on Tuesday, January 7th. Barclays lowered their target price on Laboratory Co. of America from $260.00 to $240.00 and set an "equal weight" rating for the company in a research note on Thursday, April 10th. Finally, Redburn Atlantic began coverage on Laboratory Co. of America in a research note on Wednesday, April 2nd. They issued a "buy" rating and a $276.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Laboratory Co. of America has an average rating of "Moderate Buy" and a consensus target price of $268.77.

Laboratory Co. of America Trading Up 0.9 %

Shares of NYSE:LH traded up $2.14 during midday trading on Monday, hitting $230.45. The company had a trading volume of 983,764 shares, compared to its average volume of 633,708. 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 current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67. The stock has a market cap of $19.28 billion, a price-to-earnings ratio of 26.13, a PEG ratio of 1.71 and a beta of 0.99. The firm has a fifty day simple moving average of $235.30 and a 200 day simple moving average of $235.28.

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 (EPS) for the quarter, topping 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%. On average, analysts predict 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 announced a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Thursday, May 29th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.25%. Laboratory Co. of America's dividend payout ratio is presently 32.65%.

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.