Gotham Asset Management LLC Buys New Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Gotham Asset Management LLC bought a new stake in Laboratory Co. of America Holdings (NYSE:LH) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 25,643 shares of the medical research company’s stock, valued at approximately $5,880,000.

Other large investors have also recently bought and sold shares of the company. Graney & King LLC purchased a new stake in Laboratory Co. of America in the fourth quarter valued at approximately $26,000. Geneos Wealth Management Inc. boosted its position in Laboratory Co. of America by 309.8% in the fourth quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock valued at $39,000 after buying an additional 127 shares during the last quarter. Human Investing LLC purchased a new stake in Laboratory Co. of America in the fourth quarter valued at approximately $39,000. Heck Capital Advisors LLC purchased a new stake in Laboratory Co. of America in the fourth quarter valued at approximately $44,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Laboratory Co. of America in the fourth quarter valued at approximately $52,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on LH shares. StockNews.com downgraded Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Friday, April 18th. Piper Sandler reissued a “neutral” rating and issued a $280.00 price target (up from $260.00) on shares of Laboratory Co. of America in a report on Tuesday, May 6th. Barclays boosted their price target on Laboratory Co. of America from $240.00 to $250.00 and gave the company an “equal weight” rating in a report on Wednesday, April 30th. Citigroup raised Laboratory Co. of America from a “neutral” rating to a “buy” rating and boosted their price target for the company from $250.00 to $300.00 in a report on Tuesday, March 4th. Finally, Jefferies Financial Group boosted their price target 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. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Laboratory Co. of America has an average rating of “Moderate Buy” and an average target price of $270.62.

Laboratory Co. of America Stock Down 0.3%

NYSE LH opened at $250.24 on Wednesday. The business has a fifty day moving average price of $233.54 and a 200 day moving average price of $237.28. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year high of $258.59. 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 company has a market cap of $20.95 billion, a P/E ratio of 28.37, a P/E/G ratio of 1.71 and a beta of 0.82.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings data on Tuesday, April 29th. The medical research company reported $3.84 EPS for the quarter, beating the consensus estimate of $3.73 by $0.11. Laboratory Co. of America had a return on equity of 15.29% and a net margin of 5.73%. The firm had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.41 billion. During the same period in the prior year, the company earned $3.68 EPS. The firm’s revenue was up 5.3% compared to the same quarter last year. Research analysts anticipate that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Thursday, May 29th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.15%. Laboratory Co. of America’s dividend payout ratio is currently 33.29%.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, CMO Amy B. Summy sold 226 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $250.40, for a total value of $56,590.40. Following the completion of the sale, the chief marketing officer now directly owns 4,544 shares in the company, valued at $1,137,817.60. This represents a 4.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Der Vaart Sandra D. Van sold 1,314 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $251.30, for a total value of $330,208.20. Following the completion of the sale, the executive vice president now owns 2,171 shares of the company’s stock, valued at approximately $545,572.30. The trade was a 37.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,971 shares of company stock worth $4,193,073 in the last three months. 0.84% of the stock is owned by corporate insiders.

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.