Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lowered its stake in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 575,319 shares of the medical research company's stock after selling 1,870 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.69% of Laboratory Co. of America worth $131,932,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of LH. Graney & King LLC acquired a new position in Laboratory Co. of America in the 4th quarter valued at $26,000. Fortitude Family Office LLC increased its stake in shares of Laboratory Co. of America by 312.5% during 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. raised its holdings in 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 acquired a new stake in Laboratory Co. of America in the fourth quarter valued at about $39,000. Finally, Heck Capital Advisors LLC purchased a new stake in Laboratory Co. of America in the 4th quarter valued at approximately $44,000. Institutional investors and hedge funds own 95.94% of the company's stock.

Laboratory Co. of America Trading Down 3.5 %

LH stock traded down $8.11 during midday trading on Thursday, reaching $222.37. 355,224 shares of the company's stock traded hands, compared to its average volume of 632,175. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $258.59. The business has a 50-day moving average price of $241.12 and a two-hundred day moving average price of $234.80. The company has a market capitalization of $18.61 billion, a P/E ratio of 25.18, a PEG ratio of 1.71 and a beta of 0.99. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30.

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Laboratory Co. of America (NYSE:LH - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, topping 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%. Equities research analysts forecast that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The company also recently announced 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 1.30%. Laboratory Co. of America's dividend payout ratio (DPR) is presently 32.65%.

Insider Activity

In related news, Director Kerrii B. Anderson sold 500 shares of Laboratory Co. of America stock in a transaction on 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 transaction of $175,605.86. Following the transaction, the executive vice president now owns 5,302 shares in the company, valued at $1,228,314.34. This trade represents a 12.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,258 shares of company stock worth $3,518,177. 0.85% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. StockNews.com raised Laboratory Co. of America from a "hold" rating to a "buy" rating in a report on Sunday. Evercore ISI upgraded shares of Laboratory Co. of America from an "in-line" rating to an "outperform" rating and boosted their target price for the stock from $260.00 to $265.00 in a research report on Tuesday, January 7th. Jefferies Financial Group increased their price target on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the company a "buy" rating in a report on Thursday, February 6th. UBS Group decreased their price objective 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. Finally, Bank of America increased their target price on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the company a "buy" rating in a report on Friday, December 13th. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Laboratory Co. of America presently has an average rating of "Moderate Buy" and an average target price of $268.85.

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.