Laboratory Co. of America Holdings (NYSE:LH) Shares Acquired by Scotia Capital Inc.

Scotia Capital Inc. lifted its holdings in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 14.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 103,209 shares of the medical research company's stock after acquiring an additional 12,832 shares during the period. Scotia Capital Inc. owned 0.12% of Laboratory Co. of America worth $23,669,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LH. Empowered Funds LLC increased its stake in Laboratory Co. of America by 0.5% during the 4th quarter. Empowered Funds LLC now owns 8,025 shares of the medical research company's stock worth $1,840,000 after buying an additional 43 shares in the last quarter. SP Asset Management LLC boosted its stake in shares of Laboratory Co. of America by 0.3% in the fourth quarter. SP Asset Management LLC now owns 15,186 shares of the medical research company's stock worth $3,483,000 after acquiring an additional 43 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Laboratory Co. of America by 0.4% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 12,780 shares of the medical research company's stock worth $2,931,000 after purchasing an additional 45 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in Laboratory Co. of America by 0.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 7,194 shares of the medical research company's stock valued at $1,650,000 after purchasing an additional 46 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in Laboratory Co. of America by 16.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 354 shares of the medical research company's stock valued at $81,000 after purchasing an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 95.94% of the company's stock.

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Laboratory Co. of America Trading Down 1.4 %

Shares of LH traded down $3.23 during midday trading on Tuesday, hitting $224.81. 169,281 shares of the stock were exchanged, compared to its average volume of 637,178. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $258.59. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44. The stock has a fifty day simple moving average of $239.60 and a 200 day simple moving average of $234.95. The firm has a market cap of $18.81 billion, a P/E ratio of 25.49, 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 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, research analysts anticipate that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Thursday, May 29th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.28%. Laboratory Co. of America's payout ratio is currently 32.65%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Evercore ISI raised shares of Laboratory Co. of America from an "in-line" rating to an "outperform" rating and upped their target price for the stock from $260.00 to $265.00 in a report on Tuesday, January 7th. UBS Group decreased their target price on shares of Laboratory Co. of America from $293.00 to $286.00 and set a "buy" rating on the stock in a research note on Tuesday, January 28th. Citigroup upgraded Laboratory Co. of America from a "neutral" rating to a "buy" rating and upped their price target for the company from $250.00 to $300.00 in a research report on Tuesday, March 4th. Truist Financial lowered their price objective on Laboratory Co. of America from $285.00 to $274.00 and set a "buy" rating on the stock in a research note on Friday. Finally, Barclays decreased their target price on shares of Laboratory Co. of America from $260.00 to $240.00 and set an "equal weight" rating on the stock in a report on Thursday, April 10th. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $268.77.

Insiders Place Their Bets

In other Laboratory Co. of America news, EVP Amy B. Summy sold 758 shares of the stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $231.67, for a total value of $175,605.86. Following the sale, the executive vice president now owns 5,302 shares of the company's stock, valued at $1,228,314.34. This trade represents a 12.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kerrii B. Anderson sold 500 shares of the company'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 owns 13,166 shares in the company, valued at $3,365,624.58. The trade was a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,258 shares of company stock worth $3,518,177 in the last ninety days. 0.85% of the stock is owned by corporate 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.