QRG Capital Management Inc. Sells 1,006 Shares of Laboratory Co. of America Holdings (NYSE:LH)

QRG Capital Management Inc. trimmed its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 5.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,585 shares of the medical research company’s stock after selling 1,006 shares during the period. QRG Capital Management Inc.’s holdings in Laboratory Co. of America were worth $3,803,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Private Trust Co. NA increased its position in 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 buying an additional 41 shares in the last quarter. Empowered Funds LLC grew its stake in Laboratory Co. of America by 0.5% in the fourth quarter. Empowered Funds LLC now owns 8,025 shares of the medical research company’s stock valued at $1,840,000 after acquiring an additional 43 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in shares of Laboratory Co. of America by 0.4% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 12,780 shares of the medical research company’s stock valued at $2,931,000 after acquiring an additional 45 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of Laboratory Co. of America by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,194 shares of the medical research company’s stock worth $1,650,000 after purchasing an additional 46 shares during the period. Finally, Empirical Finance LLC lifted its holdings in shares of 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 worth $683,000 after purchasing an additional 50 shares in the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on LH shares. Bank of America boosted their price target on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Jefferies Financial Group boosted their target price on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Morgan Stanley raised their price target on shares of 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. UBS Group decreased their price objective on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Finally, 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 report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $265.75.

Laboratory Co. of America Stock Up 1.5 %

LH stock opened at $251.45 on Friday. The stock has a market cap of $21.03 billion, a P/E ratio of 28.51, a P/E/G ratio of 1.71 and a beta of 1.07. 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 stock’s fifty day simple moving average is $241.20 and its two-hundred day simple moving average is $232.70. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $258.59.

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, topping 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%. Analysts expect that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $2.88 annualized dividend and a dividend yield of 1.15%. Laboratory Co. of America’s payout ratio is currently 32.65%.

Insider Buying and Selling

In other 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 transaction of $330,208.20. Following the completion of the transaction, the executive vice president now owns 2,171 shares in the company, valued at approximately $545,572.30. This represents a 37.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 shares were 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. In the last quarter, insiders have sold 21,372 shares of company stock valued at $5,175,793. 0.85% of the stock is owned by company insiders.

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.