Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. reduced its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 22.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,465 shares of the medical research company’s stock after selling 700 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Laboratory Co. of America were worth $565,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in LH. Sei Investments Co. lifted its stake in shares of Laboratory Co. of America by 12.4% in the 4th quarter. Sei Investments Co. now owns 223,162 shares of the medical research company’s stock worth $51,176,000 after acquiring an additional 24,616 shares during the period. American Century Companies Inc. lifted its position in Laboratory Co. of America by 11.5% in the fourth quarter. American Century Companies Inc. now owns 921,184 shares of the medical research company’s stock worth $211,246,000 after purchasing an additional 95,162 shares during the period. Mizuho Securities USA LLC boosted its stake in Laboratory Co. of America by 45.6% during the 4th quarter. Mizuho Securities USA LLC now owns 7,927 shares of the medical research company’s stock valued at $1,818,000 after purchasing an additional 2,482 shares in the last quarter. Holderness Investments Co. raised its stake in shares of Laboratory Co. of America by 4.3% in the 4th quarter. Holderness Investments Co. now owns 4,957 shares of the medical research company’s stock worth $1,137,000 after buying an additional 203 shares in the last quarter. Finally, Whittier Trust Co. lifted its holdings in shares of Laboratory Co. of America by 37.3% in the fourth quarter. Whittier Trust Co. now owns 1,841 shares of the medical research company’s stock valued at $422,000 after buying an additional 500 shares during the period. Institutional investors own 95.94% of the company’s stock.

Insider Transactions at Laboratory Co. of America

In other news, COO Mark S. Schroeder sold 5,339 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $249.23, for a total transaction of $1,330,638.97. Following the transaction, the chief operating officer now owns 4,960 shares in the company, valued at approximately $1,236,180.80. This trade represents a 51.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adam H. Schechter sold 6,121 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $244.62, for a total transaction of $1,497,319.02. Following the completion of the sale, the chief executive officer now owns 86,445 shares of the company’s stock, valued at $21,146,175.90. This represents a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,500 shares of company stock valued at $3,577,572 in the last three months. Corporate insiders own 0.85% of the company’s stock.

Laboratory Co. of America Price Performance

Shares of LH opened at $236.25 on Tuesday. The business’s 50-day moving average is $245.21 and its 200-day moving average is $234.42. 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 $19.77 billion, a price-to-earnings ratio of 26.79, a P/E/G ratio of 1.71 and a beta of 1.12. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $258.59.

Laboratory Co. of America (NYSE:LH) last released its earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) 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%. Equities research analysts expect that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th were given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Thursday, February 27th. Laboratory Co. of America’s payout ratio is currently 32.65%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on LH shares. Evercore ISI upgraded shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $260.00 to $265.00 in a research report on Tuesday, January 7th. Jefferies Financial Group increased their target price on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. StockNews.com upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Morgan Stanley increased their price objective 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. Finally, Bank of America boosted their target price on 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. Three research 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $268.38.

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.