Ensign Peak Advisors Inc Has $7.70 Million Position in Laboratory Co. of America Holdings (NYSE:LH)

Ensign Peak Advisors Inc reduced its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 4.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,565 shares of the medical research company’s stock after selling 1,515 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Laboratory Co. of America were worth $7,697,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in LH. Graney & King LLC acquired a new position in shares of Laboratory Co. of America in the fourth quarter worth $26,000. Geneos Wealth Management Inc. boosted its holdings in Laboratory Co. of America by 309.8% during the fourth quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock valued at $39,000 after acquiring an additional 127 shares during the period. Human Investing LLC bought a new stake in Laboratory Co. of America during the fourth quarter valued at about $39,000. Heck Capital Advisors LLC bought a new stake in shares of Laboratory Co. of America in the fourth quarter valued at about $44,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Laboratory Co. of America in the fourth quarter valued at about $52,000. 95.94% of the stock is owned by institutional investors and hedge funds.

Laboratory Co. of America Stock Performance

NYSE LH opened at $250.24 on Wednesday. The firm has a market cap of $20.95 billion, a price-to-earnings ratio of 28.37, a PEG ratio of 1.71 and a beta of 0.82. The company has a 50 day moving average of $233.54 and a 200-day moving average of $237.28. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67. 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 posted its quarterly earnings data on Tuesday, April 29th. The medical research company reported $3.84 earnings per share for the quarter, topping the consensus estimate of $3.73 by $0.11. The company had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.41 billion. Laboratory Co. of America had a net margin of 5.73% and a return on equity of 15.29%. The company’s revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the business posted $3.68 earnings per share. On average, equities 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 will be paid on Wednesday, June 11th. Stockholders of record on Thursday, May 29th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.15%. Laboratory Co. of America’s payout ratio is 33.29%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Redburn Atlantic assumed coverage on shares of Laboratory Co. of America in a research note on Wednesday, April 2nd. They issued a “buy” rating and a $276.00 target price for the company. Truist Financial increased their target price on shares of Laboratory Co. of America from $274.00 to $290.00 and gave the company a “buy” rating in a research note on Monday. Citigroup upgraded shares of Laboratory Co. of America from a “neutral” rating to a “buy” rating and increased their target price for the company from $250.00 to $300.00 in a research note on Tuesday, March 4th. Robert W. Baird increased their target price on shares of Laboratory Co. of America from $253.00 to $267.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $280.00 target price (up previously from $260.00) on shares of Laboratory Co. of America in a research note on Tuesday, May 6th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $270.62.

Insider Transactions at Laboratory Co. of America

In related news, CMO Amy B. Summy sold 226 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $250.40, for a total value of $56,590.40. Following the completion of the sale, the chief marketing officer now owns 4,544 shares of the company’s stock, valued at $1,137,817.60. This trade represents a 4.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Adam H. Schechter sold 6,105 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $248.73, for a total transaction of $1,518,496.65. Following the completion of the sale, the chief executive officer now directly owns 98,962 shares of the company’s stock, valued at approximately $24,614,818.26. This represents a 5.81% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,971 shares of company stock valued at $4,193,073. Corporate insiders own 0.84% of the company’s stock.

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.