V Square Quantitative Management LLC Trims Stake in Laboratory Co. of America Holdings (NYSE:LH)

V Square Quantitative Management LLC reduced its position in Laboratory Co. of America Holdings (NYSE:LH) by 5.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,192 shares of the medical research company’s stock after selling 121 shares during the period. V Square Quantitative Management LLC’s holdings in Laboratory Co. of America were worth $503,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp lifted its holdings in shares of Laboratory Co. of America by 0.7% in the 3rd quarter. State Street Corp now owns 3,726,627 shares of the medical research company’s stock valued at $832,827,000 after purchasing an additional 25,469 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in shares of Laboratory Co. of America by 1.5% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,978,686 shares of the medical research company’s stock valued at $442,197,000 after purchasing an additional 29,046 shares during the last quarter. Geode Capital Management LLC increased its position in Laboratory Co. of America by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,964,743 shares of the medical research company’s stock valued at $437,561,000 after acquiring an additional 13,298 shares during the period. JPMorgan Chase & Co. increased its position in Laboratory Co. of America by 9.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company’s stock valued at $431,405,000 after acquiring an additional 167,137 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in Laboratory Co. of America by 2.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,916,505 shares of the medical research company’s stock valued at $437,357,000 after acquiring an additional 51,045 shares during the period. 95.94% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Laboratory Co. of America

In related news, EVP Der Vaart Sandra D. Van sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $239.42, for a total value of $239,420.00. Following the sale, the executive vice president now owns 2,670 shares of the company’s stock, valued at approximately $639,251.40. This represents a 27.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Adam H. Schechter sold 6,121 shares of the company’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 value 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 position. The disclosure for this sale can be found here. Insiders have sold 24,504 shares of company stock valued at $5,905,692 in the last quarter. 0.85% of the stock is currently owned by corporate insiders.

Laboratory Co. of America Price Performance

Shares of NYSE:LH opened at $246.74 on Friday. The business’s 50 day simple moving average is $237.42 and its 200-day simple moving average is $230.91. The firm has a market capitalization of $20.64 billion, a price-to-earnings ratio of 27.98, a price-to-earnings-growth ratio of 1.84 and a beta of 1.07. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $258.59.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 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%. As a group, equities analysts forecast that Laboratory Co. of America Holdings will post 15.96 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The company 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 dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio (DPR) is 32.65%.

Analyst Ratings Changes

LH has been the topic of several recent research reports. 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 report on Tuesday, January 7th. Piper Sandler boosted their price target on Laboratory Co. of America from $240.00 to $260.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. HSBC upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Hsbc Global Res upgraded Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Finally, Bank of America boosted their target price on 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. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $265.31.

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.