Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by South Dakota Investment Council

South Dakota Investment Council trimmed its position in Laboratory Co. of America Holdings (NYSE:LH) by 4.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,563 shares of the medical research company’s stock after selling 328 shares during the quarter. South Dakota Investment Council’s holdings in Laboratory Co. of America were worth $1,505,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. SouthState Corp purchased a new position in shares of Laboratory Co. of America in the third quarter worth about $28,000. Fortitude Family Office LLC raised its holdings in Laboratory Co. of America by 312.5% in the 4th quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 100 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in Laboratory Co. of America by 309.8% in the 4th quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock worth $39,000 after purchasing an additional 127 shares in the last quarter. Human Investing LLC acquired a new position in shares of Laboratory Co. of America during the 4th quarter worth approximately $39,000. Finally, Concord Wealth Partners grew its position in shares of Laboratory Co. of America by 43.3% in the third quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock valued at $38,000 after purchasing an additional 52 shares in the last quarter. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Laboratory Co. of America news, Director Dwight Gary Gilliland sold 1,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $241.00, for a total value of $241,000.00. Following the sale, the director now owns 7,712 shares of the company’s stock, valued at $1,858,592. This trade represents a 11.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Glenn A. Eisenberg sold 11,711 shares of Laboratory Co. of America stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $240.43, for a total value of $2,815,675.73. Following the completion of the transaction, the executive vice president now owns 31,289 shares of the company’s stock, valued at $7,522,814.27. The trade was a 27.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,832 shares of company stock valued at $4,788,995. 0.85% of the stock is currently owned by company insiders.

Laboratory Co. of America Stock Up 0.3 %

Laboratory Co. of America stock opened at $249.86 on Monday. 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 firm has a 50 day moving average price of $238.93 and a 200 day moving average price of $231.82. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $258.59. The company has a market capitalization of $20.90 billion, a PE ratio of 28.33, a price-to-earnings-growth ratio of 1.71 and a beta of 1.07.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) for the quarter, beating 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%. Research 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 declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be given a dividend of $0.72 per share. The ex-dividend date is Thursday, February 27th. This represents a $2.88 annualized dividend and a dividend yield of 1.15%. Laboratory Co. of America’s dividend payout ratio is presently 32.65%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on LH shares. HSBC upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Bank of America lifted their price target on Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Evercore ISI raised shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $260.00 to $265.00 in a report on Tuesday, January 7th. Jefferies Financial Group lifted their target price on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Finally, Barclays dropped their price target on shares of Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating for the company in a research note on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Laboratory Co. of America currently has an average rating of “Moderate Buy” and an average target price of $265.31.

About Laboratory Co. of America

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.