Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lowered its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 30.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,117 shares of the medical research company’s stock after selling 4,390 shares during the quarter. State of Alaska Department of Revenue’s holdings in Laboratory Co. of America were worth $2,319,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in LH. AMF Tjanstepension AB grew its position in shares of Laboratory Co. of America by 37.0% during the third quarter. AMF Tjanstepension AB now owns 86,026 shares of the medical research company’s stock worth $19,232,000 after buying an additional 23,221 shares in the last quarter. CWM LLC lifted its stake in Laboratory Co. of America by 41.0% during the third quarter. CWM LLC now owns 7,107 shares of the medical research company’s stock worth $1,588,000 after purchasing an additional 2,068 shares during the last quarter. UMB Bank n.a. bought a new position in Laboratory Co. of America during the third quarter worth $84,000. Exchange Traded Concepts LLC lifted its stake in Laboratory Co. of America by 1,962.5% during the third quarter. Exchange Traded Concepts LLC now owns 990 shares of the medical research company’s stock worth $221,000 after purchasing an additional 942 shares during the last quarter. Finally, Gilman Hill Asset Management LLC bought a new position in Laboratory Co. of America during the third quarter worth $409,000. Institutional investors and hedge funds own 95.94% of the company’s stock.

Insiders Place Their Bets

In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 1,000 shares of the business’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 transaction of $239,420.00. Following the completion of the sale, the executive vice president now directly owns 2,670 shares of the company’s stock, valued at approximately $639,251.40. The trade was a 27.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Glenn A. Eisenberg sold 11,711 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $240.43, for a total value of $2,815,675.73. Following the sale, the executive vice president now directly owns 31,289 shares of the company’s stock, valued at $7,522,814.27. This represents a 27.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,383 shares of company stock valued at $4,408,373. Corporate insiders own 0.85% of the company’s stock.

Analyst Upgrades and Downgrades

LH has been the topic of a number of research reports. StockNews.com upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Friday. Jefferies Financial Group upped their price objective on Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Evercore ISI raised Laboratory Co. of America from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $260.00 to $265.00 in a research report on Tuesday, January 7th. UBS Group reduced their price target on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Finally, HSBC upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $265.31.

Laboratory Co. of America Stock Performance

LH stock opened at $245.14 on Tuesday. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $258.59. The firm has a market cap of $20.50 billion, a PE ratio of 27.79, a price-to-earnings-growth ratio of 1.84 and a beta of 1.07. The stock has a 50-day moving average price of $236.67 and a 200-day moving average price of $229.99. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67.

Laboratory Co. of America (NYSE:LH) last issued its earnings results on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, beating analysts’ consensus estimates 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 research analysts expect that Laboratory Co. of America Holdings will post 15.96 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio is currently 32.65%.

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.