Laboratory Co. of America Holdings (NYSE:LH) Stock Position Lowered by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its position in Laboratory Co. of America Holdings (NYSE:LH) by 4.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 66,580 shares of the medical research company’s stock after selling 2,880 shares during the quarter. New York State Teachers Retirement System owned approximately 0.08% of Laboratory Co. of America worth $15,268,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Private Trust Co. NA lifted its position in shares of Laboratory Co. of America by 3.2% in the 3rd quarter. Private Trust Co. NA now owns 1,342 shares of the medical research company’s stock valued at $300,000 after acquiring an additional 41 shares in the last quarter. Empowered Funds LLC increased its stake in Laboratory Co. of America by 0.5% in the 4th quarter. Empowered Funds LLC now owns 8,025 shares of the medical research company’s stock valued at $1,840,000 after buying an additional 43 shares during the period. Empirical Finance LLC increased its stake in Laboratory Co. of America by 1.7% in the 3rd quarter. Empirical Finance LLC now owns 3,055 shares of the medical research company’s stock valued at $683,000 after buying an additional 50 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in Laboratory Co. of America by 16.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 354 shares of the medical research company’s stock valued at $81,000 after buying an additional 50 shares during the period. Finally, Concord Wealth Partners increased its stake in Laboratory Co. of America by 43.3% in the 3rd quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock valued at $38,000 after buying an additional 52 shares during the period. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on LH. Piper Sandler upped their price objective on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Robert W. Baird upped their price objective on shares of 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. Hsbc Global Res upgraded shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Bank of America increased their price target on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, Morgan Stanley increased their price target on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Laboratory Co. of America has an average rating of “Moderate Buy” and an average target price of $265.31.

Insider Buying and Selling at Laboratory Co. of America

In other news, CEO Adam H. Schechter sold 6,121 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $244.62, for a total transaction of $1,497,319.02. Following the completion of the transaction, the chief executive officer now directly owns 86,445 shares of the company’s stock, valued at approximately $21,146,175.90. This trade represents a 6.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Der Vaart Sandra D. Van sold 1,000 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $239.42, for a total transaction of $239,420.00. Following the transaction, the executive vice president now directly owns 2,670 shares of the company’s stock, valued at $639,251.40. The trade was a 27.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,504 shares of company stock valued at $5,905,692 in the last ninety days. Company insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Performance

NYSE:LH opened at $246.74 on Monday. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $258.59. The firm’s fifty day simple moving average is $237.42 and its 200 day simple moving average is $231.03. 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 firm has a market capitalization of $20.64 billion, a PE ratio of 27.98, a PEG ratio of 1.84 and a beta of 1.07.

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

Laboratory Co. of America Dividend Announcement

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