Laboratory Co. of America Holdings (NYSE:LH) Stake Raised by Alliancebernstein L.P.

Alliancebernstein L.P. boosted its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 59.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,021,104 shares of the medical research company’s stock after acquiring an additional 380,624 shares during the quarter. Alliancebernstein L.P. owned 1.22% of Laboratory Co. of America worth $234,160,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new stake in shares of Laboratory Co. of America in the 3rd quarter worth approximately $596,000. CreativeOne Wealth LLC lifted its position in Laboratory Co. of America by 19.7% in the third quarter. CreativeOne Wealth LLC now owns 1,488 shares of the medical research company’s stock worth $332,000 after purchasing an additional 245 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Laboratory Co. of America by 14.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,689 shares of the medical research company’s stock valued at $3,953,000 after purchasing an additional 2,234 shares in the last quarter. Public Sector Pension Investment Board increased its position in shares of Laboratory Co. of America by 9.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 3,572 shares of the medical research company’s stock valued at $798,000 after purchasing an additional 300 shares during the period. Finally, True Wealth Design LLC raised its stake in shares of Laboratory Co. of America by 3,660.0% in the 3rd quarter. True Wealth Design LLC now owns 188 shares of the medical research company’s stock worth $42,000 after buying an additional 183 shares in the last quarter. Institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Trading Up 1.2 %

NYSE:LH opened at $232.80 on Tuesday. The stock has a market cap of $19.49 billion, a PE ratio of 26.39, a price-to-earnings-growth 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. 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 stock’s 50-day moving average is $244.68 and its two-hundred day moving average is $234.78.

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 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%. As a group, equities research analysts forecast that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Thursday, February 27th were given a dividend of $0.72 per share. The ex-dividend date was Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a yield of 1.24%. Laboratory Co. of America’s payout ratio is 32.65%.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, EVP Amy B. Summy sold 758 shares of Laboratory Co. of America stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $231.67, for a total value of $175,605.86. Following the completion of the sale, the executive vice president now directly owns 5,302 shares in the company, valued at $1,228,314.34. The trade was a 12.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kerrii B. Anderson sold 500 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $255.63, for a total transaction of $127,815.00. Following the transaction, the director now owns 13,166 shares in the company, valued at approximately $3,365,624.58. This trade represents a 3.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,258 shares of company stock worth $3,753,177 over the last 90 days. 0.85% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

LH has been the subject of several research reports. Morgan Stanley raised their target price on Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. 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 report on Thursday, February 6th. UBS Group reduced their target price on shares of 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. Citigroup raised Laboratory Co. of America from a “neutral” rating to a “buy” rating and upped their price target for the company from $250.00 to $300.00 in a report on Tuesday, March 4th. Finally, Bank of America raised their price objective on Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $269.92.

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.