New York State Common Retirement Fund Sells 26,313 Shares of Laboratory Co. of America Holdings (NYSE:LH)

New York State Common Retirement Fund decreased its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 16.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 129,733 shares of the medical research company’s stock after selling 26,313 shares during the period. New York State Common Retirement Fund owned about 0.16% of Laboratory Co. of America worth $29,750,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. SouthState Corp bought a new stake in shares of Laboratory Co. of America in the 3rd quarter worth $28,000. Horizon Bancorp Inc. IN bought a new stake in shares of Laboratory Co. of America in the third quarter worth $29,000. Fortitude Family Office LLC grew its holdings in shares of 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 worth $30,000 after acquiring an additional 100 shares during the period. Geneos Wealth Management Inc. grew its holdings in shares of 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 worth $39,000 after acquiring an additional 127 shares during the period. Finally, Human Investing LLC bought a new stake in shares of Laboratory Co. of America in the fourth quarter worth $39,000. Institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Price Performance

Shares of Laboratory Co. of America stock opened at $249.15 on Friday. The stock’s 50-day simple moving average is $238.23 and its 200-day simple moving average is $231.42. Laboratory Co. of America Holdings has a 52 week low of $191.97 and a 52 week high of $258.59. The company has a market capitalization of $20.84 billion, a price-to-earnings ratio of 28.25, a PEG ratio of 1.69 and a beta of 1.07. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 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%. As a group, analysts expect that Laboratory Co. of America Holdings will post 16.01 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 given 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 dividend yield of 1.16%. Laboratory Co. of America’s dividend payout ratio is currently 32.65%.

Insider Buying and Selling

In related news, CEO Adam H. Schechter sold 6,121 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $244.62, for a total value of $1,497,319.02. Following the sale, the chief executive officer now directly owns 86,445 shares in the company, valued at approximately $21,146,175.90. The trade was a 6.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kerrii B. Anderson sold 1,000 shares of the business’s stock in a transaction dated 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 owns 12,722 shares in the company, valued at $2,989,670. This represents a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,832 shares of company stock worth $4,788,995. Corporate insiders own 0.85% of the company’s stock.

Analyst Ratings Changes

LH has been the subject of several research analyst reports. Hsbc Global Res raised Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Bank of America lifted their price objective on Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Jefferies Financial Group lifted their target price on Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Piper Sandler lifted their target price on Laboratory Co. of America from $240.00 to $260.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Finally, Robert W. Baird lifted their target price on Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently 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.