Mariner LLC Acquires 2,709 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Mariner LLC raised its stake in Laboratory Co. of America Holdings (NYSE:LH) by 25.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,215 shares of the medical research company’s stock after purchasing an additional 2,709 shares during the period. Mariner LLC’s holdings in Laboratory Co. of America were worth $3,030,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Empowered Funds LLC lifted its position in Laboratory Co. of America by 0.5% during the fourth quarter. Empowered Funds LLC now owns 8,025 shares of the medical research company’s stock worth $1,840,000 after acquiring an additional 43 shares during the last quarter. SP Asset Management LLC boosted its stake in Laboratory Co. of America by 0.3% in the 4th quarter. SP Asset Management LLC now owns 15,186 shares of the medical research company’s stock valued at $3,483,000 after purchasing an additional 43 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in Laboratory Co. of America by 0.4% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 12,780 shares of the medical research company’s stock valued at $2,931,000 after buying an additional 45 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings 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 buying an additional 46 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its position in shares of Laboratory Co. of America by 16.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 354 shares of the medical research company’s stock valued at $81,000 after acquiring an additional 50 shares during the period. 95.94% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Amy B. Summy sold 758 shares of the business’s 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 transaction, the executive vice president now owns 5,302 shares in the company, valued at approximately $1,228,314.34. The trade was a 12.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 shares were 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 directly owns 86,445 shares in the company, valued at approximately $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 a total of 14,258 shares of company stock valued at $3,518,177 in the last three months. Insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on LH shares. Barclays dropped their price objective on shares of Laboratory Co. of America from $260.00 to $240.00 and set an “equal weight” rating for the company in a research note on Thursday, April 10th. Redburn Atlantic started coverage on Laboratory Co. of America in a research note on Wednesday, April 2nd. They set a “buy” rating and a $276.00 price objective on the stock. Jefferies Financial Group upped 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. Evercore ISI upgraded Laboratory Co. of America from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $260.00 to $265.00 in a research report on Tuesday, January 7th. Finally, StockNews.com cut shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Friday. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Laboratory Co. of America has an average rating of “Moderate Buy” and a consensus price target of $268.77.

Laboratory Co. of America Trading Down 2.2 %

NYSE LH opened at $212.43 on Tuesday. The company has a market cap of $17.77 billion, a price-to-earnings ratio of 24.09, a price-to-earnings-growth ratio of 1.71 and a beta of 0.99. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $258.59. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67. The business’s fifty day moving average is $236.97 and its 200 day moving average is $234.96.

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

Laboratory Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Thursday, May 29th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.36%. Laboratory Co. of America’s dividend payout ratio is 32.65%.

Laboratory Co. of America Profile

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.