ProShare Advisors LLC Increases Stake in Laboratory Co. of America Holdings (NYSE:LH)

ProShare Advisors LLC lifted its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 11.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 12,672 shares of the medical research company’s stock after acquiring an additional 1,342 shares during the quarter. ProShare Advisors LLC’s holdings in Laboratory Co. of America were worth $2,906,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Capital City Trust Co. FL boosted its stake in Laboratory Co. of America by 1.5% in the fourth quarter. Capital City Trust Co. FL now owns 15,553 shares of the medical research company’s stock valued at $3,567,000 after acquiring an additional 223 shares in the last quarter. Wealthcare Advisory Partners LLC raised its stake in Laboratory Co. of America by 23.9% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 2,543 shares of the medical research company’s stock valued at $583,000 after buying an additional 490 shares during the last quarter. Bryn Mawr Capital Management LLC increased its holdings in shares of Laboratory Co. of America by 51.2% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 1,495 shares of the medical research company’s stock valued at $343,000 after acquiring an additional 506 shares in the last quarter. Barclays PLC grew its position in Laboratory Co. of America by 11.8% during the 3rd quarter. Barclays PLC now owns 620,721 shares of the medical research company’s stock worth $138,718,000 after purchasing an additional 65,356 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Laboratory Co. of America by 28.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,394 shares of the medical research company’s stock worth $2,162,000 after buying an additional 2,081 shares during the last quarter. Institutional investors own 95.94% of the company’s stock.

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, CAO Peter J. Wilkinson sold 829 shares of Laboratory Co. of America stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $242.26, for a total transaction of $200,833.54. Following the completion of the sale, the chief accounting officer now directly owns 2,054 shares in the company, valued at $497,602.04. This trade represents a 28.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Amy B. Summy sold 226 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $250.40, for a total transaction of $56,590.40. Following the completion of the transaction, the chief marketing officer now owns 4,544 shares in the company, valued at approximately $1,137,817.60. This represents a 4.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,971 shares of company stock valued at $4,193,073. 0.84% of the stock is owned by company insiders.

Laboratory Co. of America Stock Performance

NYSE:LH opened at $250.73 on Wednesday. The company has a market cap of $20.99 billion, a P/E ratio of 28.43, a P/E/G ratio of 1.71 and a beta of 0.82. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $258.59. The company’s 50-day moving average price is $234.13 and its 200-day moving average price is $237.95. 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 (NYSE:LH) last posted its quarterly earnings results on Tuesday, April 29th. The medical research company reported $3.84 EPS for the quarter, beating the consensus estimate of $3.73 by $0.11. The firm had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.41 billion. Laboratory Co. of America had a return on equity of 15.29% and a net margin of 5.73%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the firm earned $3.68 earnings per share. On average, sell-side analysts forecast that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Thursday, May 29th will be given 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

LH has been the subject of a number of research analyst reports. Robert W. Baird raised their target price on Laboratory Co. of America from $253.00 to $267.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Piper Sandler restated a “neutral” rating and set a $280.00 price objective (up from $260.00) on shares of Laboratory Co. of America in a research note on Tuesday, May 6th. UBS Group decreased 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 research report on Tuesday, January 28th. StockNews.com lowered Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, April 18th. Finally, Redburn Atlantic initiated coverage on Laboratory Co. of America in a report on Wednesday, April 2nd. They issued a “buy” rating and a $276.00 price objective for the company. Four 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $270.62.

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.