Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its stake in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 16.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 129,733 shares of the medical research company's stock after selling 26,313 shares during the period. New York State Common Retirement Fund owned about 0.16% of Laboratory Co. of America worth $29,750,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. SouthState Corp purchased a new stake in shares of Laboratory Co. of America in the 3rd quarter valued at about $28,000. Horizon Bancorp Inc. IN acquired a new position in Laboratory Co. of America during the third quarter worth approximately $29,000. Fortitude Family Office LLC lifted its stake in Laboratory Co. of America by 312.5% in the fourth quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company's stock valued at $30,000 after buying an additional 100 shares during the last quarter. Geneos Wealth Management Inc. grew its position in shares of 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 acquiring an additional 127 shares during the last quarter. Finally, Human Investing LLC purchased a new position in shares of Laboratory Co. of America during the fourth quarter worth approximately $39,000. Institutional investors and hedge funds own 95.94% of the company's stock.

Laboratory Co. of America Price Performance

Shares of NYSE LH traded up $0.69 during midday trading on Friday, hitting $249.86. The company had a trading volume of 410,967 shares, compared to its average volume of 593,719. The firm has a market capitalization of $20.90 billion, a price-to-earnings ratio of 28.33, a price-to-earnings-growth ratio of 1.70 and a beta of 1.07. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $258.59. The business has a 50-day simple moving average of $238.57 and a two-hundred day simple moving average of $231.55. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67.

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, 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 research analysts anticipate that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th will be given a dividend of $0.72 per share. The ex-dividend date is Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a yield of 1.15%. Laboratory Co. of America's payout ratio is 32.65%.

Insider Buying and Selling at Laboratory Co. of America

In related news, Director Dwight Gary Gilliland sold 1,000 shares of Laboratory Co. of America stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $241.00, for a total transaction of $241,000.00. Following the completion of the transaction, the director now directly owns 7,712 shares in the company, valued at $1,858,592. The trade was a 11.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Adam H. Schechter sold 6,121 shares of the stock in a transaction on Tuesday, February 11th. The shares were 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 in the company, valued at approximately $21,146,175.90. This trade represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,832 shares of company stock valued at $4,788,995. Insiders own 0.85% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Barclays decreased their price target on shares of Laboratory Co. of America from $271.00 to $260.00 and set an "equal weight" rating for the company in a research note on Friday, February 7th. Hsbc Global Res upgraded shares of Laboratory Co. of America from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 30th. Robert W. Baird boosted their price target on 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 upped their price objective on Laboratory Co. of America from $262.00 to $271.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Finally, Evercore ISI upgraded 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. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Laboratory Co. of America presently has a consensus rating of "Moderate Buy" and a consensus price target of $265.31.

Laboratory Co. of America Profile

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