Cooke & Bieler LP Has $194.52 Million Position in Laboratory Co. of America Holdings (NYSE:LH)

Cooke & Bieler LP reduced its stake in Laboratory Co. of America Holdings (NYSE:LH) by 10.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 848,261 shares of the medical research company’s stock after selling 93,837 shares during the period. Laboratory Co. of America accounts for approximately 1.9% of Cooke & Bieler LP’s investment portfolio, making the stock its 15th biggest position. Cooke & Bieler LP owned approximately 1.01% of Laboratory Co. of America worth $194,523,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Principal Financial Group Inc. boosted its position in shares of Laboratory Co. of America by 2.8% in the third quarter. Principal Financial Group Inc. now owns 96,596 shares of the medical research company’s stock valued at $21,587,000 after acquiring an additional 2,595 shares during the period. Verdence Capital Advisors LLC boosted its position in shares of Laboratory Co. of America by 3.2% in the third quarter. Verdence Capital Advisors LLC now owns 1,914 shares of the medical research company’s stock valued at $428,000 after acquiring an additional 60 shares during the period. Sheets Smith Wealth Management boosted its position in shares of Laboratory Co. of America by 6.1% in the third quarter. Sheets Smith Wealth Management now owns 2,776 shares of the medical research company’s stock valued at $620,000 after acquiring an additional 159 shares during the period. Covestor Ltd bought a new stake in shares of Laboratory Co. of America in the third quarter valued at about $195,000. Finally, Kennebec Savings Bank bought a new stake in shares of Laboratory Co. of America in the third quarter valued at about $42,000. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Laboratory Co. of America Stock Performance

Laboratory Co. of America stock opened at $243.93 on Tuesday. The business has a 50 day moving average of $243.98 and a 200-day moving average of $233.85. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $258.59. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30. The company has a market capitalization of $20.42 billion, a P/E ratio of 27.66, a P/E/G ratio of 1.71 and a beta of 1.12.

Laboratory Co. of America (NYSE:LH) last released 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%. On average, equities research analysts predict that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio is presently 32.65%.

Insider Buying and Selling at Laboratory Co. of America

In related news, EVP Der Vaart Sandra D. Van sold 1,314 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $251.30, for a total value of $330,208.20. Following the transaction, the executive vice president now directly owns 2,171 shares in the company, valued at $545,572.30. This trade represents a 37.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kerrii B. Anderson sold 500 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $255.63, for a total value of $127,815.00. Following the completion of the transaction, the director now owns 13,166 shares in the company, valued at approximately $3,365,624.58. This represents a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,500 shares of company stock valued at $3,577,572. 0.85% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Bank of America upped their price objective on shares of 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. Barclays cut their price objective 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 report on Friday, February 7th. 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 stock from $260.00 to $265.00 in a research report on Tuesday, January 7th. Morgan Stanley upped their price objective on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, Piper Sandler upped their price objective on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Laboratory Co. of America currently has a consensus rating of “Moderate Buy” and a consensus target price of $268.38.

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.