Laboratory Co. of America Holdings (NYSE:LH) Position Lowered by Meridiem Investment Management Ltd.

Meridiem Investment Management Ltd. lessened its position in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,211,314 shares of the medical research company's stock after selling 6,246 shares during the period. Laboratory Co. of America accounts for 5.0% of Meridiem Investment Management Ltd.'s investment portfolio, making the stock its 9th biggest position. Meridiem Investment Management Ltd. owned approximately 1.45% of Laboratory Co. of America worth $277,838,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. OneDigital Investment Advisors LLC lifted its position in shares of Laboratory Co. of America by 115.7% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 6,088 shares of the medical research company's stock worth $1,361,000 after purchasing an additional 3,265 shares during the period. Alexander Randolph Advisory Inc. purchased a new stake in shares of Laboratory Co. of America in the 3rd quarter worth about $955,000. Wealthcare Advisory Partners LLC lifted its position in shares of Laboratory Co. of America by 23.9% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 2,543 shares of the medical research company's stock worth $583,000 after purchasing an additional 490 shares during the period. Mutual of America Capital Management LLC purchased a new stake in shares of Laboratory Co. of America in the 3rd quarter worth about $2,316,000. Finally, Barclays PLC lifted its position in shares of Laboratory Co. of America by 11.8% in the 3rd quarter. Barclays PLC now owns 620,721 shares of the medical research company's stock worth $138,718,000 after purchasing an additional 65,356 shares during the period. Institutional investors own 95.94% of the company's stock.

Laboratory Co. of America Stock Up 0.5 %

NYSE:LH traded up $1.33 on Thursday, reaching $249.15. 494,858 shares of the stock traded hands, compared to its average volume of 599,259. The company has a market capitalization of $20.84 billion, a price-to-earnings ratio of 28.25, a PEG ratio of 1.69 and a beta of 1.07. 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's fifty day simple moving average is $238.23 and its 200 day simple moving average is $231.42.

Laboratory Co. of America (NYSE:LH - Get Free Report) last released its quarterly earnings data 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 net margin of 5.73% and a return on equity of 15.29%. Equities analysts predict that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. 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 research 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 research report on Thursday, February 6th. Robert W. Baird lifted their price target on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the company an "outperform" rating in a research report on Friday, October 25th. Bank of America lifted their price target on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the company a "buy" rating in a research report on Friday, December 13th. Finally, Evercore ISI raised shares of Laboratory Co. of America from an "in-line" rating to an "outperform" rating and lifted their price target for the company from $260.00 to $265.00 in a research report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $265.31.

Insider Transactions at Laboratory Co. of America

In related news, CEO Adam H. Schechter sold 6,121 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 86,445 shares in the company, valued at approximately $21,146,175.90. The trade was a 6.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kerrii B. Anderson sold 1,000 shares of the business's stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total transaction of $235,000.00. Following the sale, the director now owns 12,722 shares of the company's stock, valued at $2,989,670. This trade represents a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,504 shares of company stock worth $5,666,272 over the last three months. 0.85% of the stock is currently owned by company insiders.

About Laboratory Co. of America

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.