State of Alaska Department of Revenue Cuts Position in Laboratory Co. of America Holdings (NYSE:LH)

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

A number of other hedge funds and other institutional investors have also recently modified their holdings of LH. SouthState Corp purchased a new position in Laboratory Co. of America in the third quarter valued at approximately $28,000. Horizon Bancorp Inc. IN purchased a new position in Laboratory Co. of America in the third quarter valued at approximately $29,000. Fortitude Family Office LLC lifted its stake in Laboratory Co. of America by 312.5% in the fourth quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 100 shares during the last quarter. Riverview Trust Co lifted its stake in Laboratory Co. of America by 172.6% in the third quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock valued at $38,000 after purchasing an additional 107 shares during the last quarter. Finally, Concord Wealth Partners lifted its stake in 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 during the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Trading Down 0.5 %

Laboratory Co. of America stock opened at $245.14 on Tuesday. The stock has a market cap of $20.50 billion, a P/E ratio of 27.79, a PEG ratio of 1.84 and a beta of 1.07. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $258.59. The firm’s fifty day moving average price is $236.67 and its 200-day moving average price is $229.99. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44.

Laboratory Co. of America (NYSE:LH) last released 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%. Equities research analysts forecast that Laboratory Co. of America Holdings will post 15.96 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

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

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, EVP Glenn A. Eisenberg sold 11,711 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $240.43, for a total transaction of $2,815,675.73. Following the completion of the sale, the executive vice president now directly owns 31,289 shares in the company, valued at $7,522,814.27. This represents a 27.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Dwight Gary Gilliland sold 1,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $241.00, for a total transaction of $241,000.00. Following the sale, the director now owns 7,712 shares of the company’s stock, valued at approximately $1,858,592. The trade was a 11.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,383 shares of company stock valued at $4,408,373 over the last 90 days. 0.85% of the stock is owned by insiders.

Wall Street Analyst Weigh In

LH has been the topic of several research analyst reports. Robert W. Baird upped their price objective on Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. UBS Group lowered their target price on shares of Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Hsbc Global Res raised shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Piper Sandler boosted their target price on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the company a “neutral” rating in a report on Monday. Finally, StockNews.com raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Friday. 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 company. According to data from MarketBeat.com, the company presently has an average 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.