Mariner LLC Has $3.03 Million Position in Laboratory Co. of America Holdings (NYSE:LH)

Mariner LLC raised its stake in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 25.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 13,215 shares of the medical research company's stock after buying an additional 2,709 shares during the quarter. Mariner LLC's holdings in Laboratory Co. of America were worth $3,030,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Graney & King LLC acquired a new stake in shares of Laboratory Co. of America in the 4th quarter worth approximately $26,000. Fortitude Family Office LLC increased its position in shares of 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 during the period. Geneos Wealth Management Inc. raised its stake in shares of Laboratory Co. of America by 309.8% in the 4th quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company's stock worth $39,000 after buying an additional 127 shares in the last quarter. Human Investing LLC acquired a new stake in shares of Laboratory Co. of America in the fourth quarter valued at $39,000. Finally, Heck Capital Advisors LLC bought a new position in Laboratory Co. of America during the fourth quarter valued at about $44,000. Institutional investors and hedge funds own 95.94% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on LH shares. Truist Financial dropped their target price on shares of Laboratory Co. of America from $285.00 to $274.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Barclays reduced their price objective 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. Jefferies Financial Group increased their price target on 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. Piper Sandler upped 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 research note on Monday, February 10th. Finally, UBS Group reduced their target price 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. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Laboratory Co. of America presently has a consensus rating of "Moderate Buy" and a consensus target price of $268.77.

Laboratory Co. of America Stock Performance

LH traded up $0.16 during trading on Friday, hitting $228.74. The stock had a trading volume of 588,697 shares, compared to its average volume of 638,778. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67. 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 50 day simple moving average of $235.65 and a 200-day simple moving average of $234.90. The firm has a market cap of $19.14 billion, a PE ratio of 25.96, 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 quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 earnings per share 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%. Analysts expect 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 will be paid on Wednesday, June 11th. Stockholders of record on Thursday, May 29th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.26%. Laboratory Co. of America's payout ratio is 32.65%.

Insider Activity at Laboratory Co. of America

In other news, Director Kerrii B. Anderson sold 500 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $255.63, for a total transaction of $127,815.00. Following the sale, the director now directly owns 13,166 shares in the company, valued at approximately $3,365,624.58. The trade was a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Amy B. Summy sold 758 shares of Laboratory Co. of America stock in a transaction on Friday, March 28th. The stock was sold at an average price of $231.67, for a total transaction of $175,605.86. Following the sale, the executive vice president now owns 5,302 shares in the company, valued at $1,228,314.34. This 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 worth $3,518,177 in the last ninety days. 0.84% of the stock is currently owned by insiders.

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.