Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Zacks Investment Management

Zacks Investment Management trimmed its position in Laboratory Co. of America Holdings (NYSE:LH) by 10.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 78,242 shares of the medical research company’s stock after selling 9,461 shares during the period. Zacks Investment Management owned 0.09% of Laboratory Co. of America worth $17,942,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LH. Norges Bank bought a new position in shares of Laboratory Co. of America during the fourth quarter valued at approximately $239,811,000. Amundi increased its position in Laboratory Co. of America by 344.9% in the fourth quarter. Amundi now owns 1,123,409 shares of the medical research company’s stock worth $263,161,000 after buying an additional 870,903 shares during the period. Madison Investment Advisors LLC bought a new stake in Laboratory Co. of America in the fourth quarter valued at $123,415,000. Alliancebernstein L.P. boosted its holdings in shares of Laboratory Co. of America by 59.4% during the fourth quarter. Alliancebernstein L.P. now owns 1,021,104 shares of the medical research company’s stock valued at $234,160,000 after acquiring an additional 380,624 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Laboratory Co. of America by 9.5% during the third quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company’s stock worth $431,405,000 after acquiring an additional 167,137 shares during the last quarter. 95.94% of the stock is owned by institutional investors.

Insider Transactions at Laboratory Co. of America

In other news, CMO Amy B. Summy sold 226 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $250.40, for a total transaction of $56,590.40. Following the transaction, the chief marketing officer now directly owns 4,544 shares in the company, valued at $1,137,817.60. The trade was a 4.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Adam H. Schechter sold 6,121 shares of the stock in a transaction on Tuesday, February 11th. The stock was 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 of the company’s stock, valued at approximately $21,146,175.90. This represents a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,258 shares of company stock valued at $3,518,177 over the last quarter. Company insiders own 0.85% of the company’s stock.

Laboratory Co. of America Trading Down 2.4 %

Shares of LH opened at $220.59 on Thursday. The business’s 50-day moving average price is $238.66 and its 200 day moving average price is $234.79. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $18.46 billion, a P/E ratio of 25.01, a P/E/G ratio of 1.71 and a beta of 0.99. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $258.59.

Laboratory Co. of America (NYSE:LH) last released its earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share for the quarter, topping the consensus estimate 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%. Analysts expect that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Thursday, May 29th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.31%. Laboratory Co. of America’s payout ratio is currently 32.65%.

Analyst Ratings Changes

A number of research analysts have issued reports on LH shares. Barclays reduced their target price on shares of Laboratory Co. of America from $260.00 to $240.00 and set an “equal weight” rating for the company in a research note on Thursday, April 10th. UBS Group lowered their target price on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. StockNews.com raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Sunday, April 6th. Piper Sandler upped their price objective on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Finally, Redburn Atlantic began coverage on shares of Laboratory Co. of America in a research note on Wednesday, April 2nd. They set a “buy” rating and a $276.00 target price on the stock. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $268.77.

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.