Wedge Capital Management L L P NC Sells 17,868 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Wedge Capital Management L L P NC reduced its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 12.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 125,100 shares of the medical research company’s stock after selling 17,868 shares during the quarter. Wedge Capital Management L L P NC owned 0.15% of Laboratory Co. of America worth $28,688,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. SouthState Corp acquired a new stake in Laboratory Co. of America in the 3rd quarter valued at about $28,000. Horizon Bancorp Inc. IN acquired a new stake in shares of Laboratory Co. of America in the third quarter valued at approximately $29,000. Fortitude Family Office LLC boosted its stake 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 worth $30,000 after acquiring an additional 100 shares during the period. Riverview Trust Co increased its holdings in shares of Laboratory Co. of America by 172.6% during the 3rd quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock worth $38,000 after acquiring an additional 107 shares during the last quarter. Finally, Concord Wealth Partners raised its stake in Laboratory Co. of America by 43.3% in the 3rd quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock valued at $38,000 after acquiring an additional 52 shares during the period. Institutional investors and hedge funds own 95.94% of the company’s stock.

Laboratory Co. of America Stock Performance

NYSE LH opened at $238.44 on Friday. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $247.99. The firm has a market capitalization of $19.94 billion, a price-to-earnings ratio of 46.12, a P/E/G ratio of 1.73 and a beta of 1.06. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66. The firm’s 50 day simple moving average is $234.80 and its 200 day simple moving average is $225.60.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings results on Thursday, October 24th. The medical research company reported $3.50 EPS for the quarter, topping analysts’ consensus estimates of $3.48 by $0.02. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter in the previous year, the firm earned $3.38 EPS. Laboratory Co. of America’s revenue was up 7.4% on a year-over-year basis. As a group, research analysts expect that Laboratory Co. of America Holdings will post 14.51 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.21%. Laboratory Co. of America’s dividend payout ratio is 55.71%.

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 1,000 shares of the stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $230.00, for a total value of $230,000.00. Following the completion of the transaction, the director now directly owns 13,722 shares in the company, valued at approximately $3,156,060. This trade represents a 6.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adam H. Schechter sold 6,189 shares of Laboratory Co. of America stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $243.47, for a total value of $1,506,835.83. Following the sale, the chief executive officer now directly owns 87,441 shares in the company, valued at $21,289,260.27. The trade was a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,572 shares of company stock valued at $6,145,209 in the last quarter. Insiders own 0.85% of the company’s stock.

Analysts Set New Price Targets

LH has been the subject of a number of research analyst reports. Robert W. Baird lifted their price objective on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. StockNews.com lowered shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Bank of America raised their price objective on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. HSBC raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Finally, Evercore ISI upgraded Laboratory Co. of America from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $260.00 to $265.00 in a research note on Tuesday, January 7th. Four investment 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $260.54.

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.