Kentucky Retirement Systems Sells 79 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Kentucky Retirement Systems lessened its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,770 shares of the medical research company’s stock after selling 79 shares during the period. Kentucky Retirement Systems’ holdings in Laboratory Co. of America were worth $1,323,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Private Trust Co. NA lifted its holdings in shares of Laboratory Co. of America by 3.2% during the 3rd quarter. Private Trust Co. NA now owns 1,342 shares of the medical research company’s stock valued at $300,000 after purchasing an additional 41 shares in the last quarter. Empowered Funds LLC raised its position 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 last quarter. Empirical Finance LLC raised its position 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 last quarter. MassMutual Private Wealth & Trust FSB raised its position 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 last quarter. Finally, Concord Wealth Partners raised its position 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 last quarter. Institutional investors own 95.94% of the company’s stock.

Insider Activity at Laboratory Co. of America

In related news, Director Kerrii B. Anderson sold 1,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $235.00, for a total value of $235,000.00. Following the completion of the sale, the director now directly owns 12,722 shares in the company, valued at $2,989,670. The trade was a 7.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Glenn A. Eisenberg sold 11,711 shares of the company’s stock in a transaction on 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 sale, the executive vice president now owns 31,289 shares of the company’s stock, valued at approximately $7,522,814.27. The trade was a 27.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,832 shares of company stock worth $4,788,995 in the last ninety days. 0.85% of the stock is owned by company insiders.

Laboratory Co. of America Stock Up 0.3 %

LH stock opened at $249.86 on Monday. 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 $20.90 billion, a PE ratio of 28.33, a PEG ratio of 1.71 and a beta of 1.07. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $258.59. The business’s 50 day simple moving average is $238.93 and its 200 day simple moving average is $231.82.

Laboratory Co. of America (NYSE:LH) last posted its earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share for the quarter, topping 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%. As a group, research analysts anticipate that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 1.15%. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 32.65%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LH. UBS Group dropped their target price on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Barclays dropped their target price on Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating on the stock in a research report on Friday, February 7th. Morgan Stanley lifted their target price on Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Hsbc Global Res raised Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Finally, Piper Sandler boosted their price target on 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 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.