Laboratory Co. of America Holdings (NYSE:LH) Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC lifted its position in Laboratory Co. of America Holdings (NYSE:LH) by 2,584.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,963 shares of the medical research company’s stock after acquiring an additional 24,996 shares during the period. SG Americas Securities LLC’s holdings in Laboratory Co. of America were worth $6,043,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LH. Brighton Jones LLC acquired a new stake in Laboratory Co. of America during the 4th quarter worth about $991,000. Stratos Wealth Partners LTD. grew its position in Laboratory Co. of America by 11.8% during the 4th quarter. Stratos Wealth Partners LTD. now owns 1,268 shares of the medical research company’s stock worth $291,000 after purchasing an additional 134 shares during the period. Apollon Wealth Management LLC acquired a new stake in Laboratory Co. of America during the 4th quarter worth about $249,000. Empowered Funds LLC grew its position in Laboratory Co. of America by 0.5% during the 4th quarter. Empowered Funds LLC now owns 8,025 shares of the medical research company’s stock worth $1,840,000 after purchasing an additional 43 shares during the period. Finally, Kestra Private Wealth Services LLC grew its position in Laboratory Co. of America by 132.6% during the 4th quarter. Kestra Private Wealth Services LLC now owns 3,056 shares of the medical research company’s stock worth $701,000 after purchasing an additional 1,742 shares during the period. 95.94% of the stock is owned by institutional investors and hedge funds.

Laboratory Co. of America Trading Up 0.6%

Shares of Laboratory Co. of America stock opened at $261.63 on Friday. 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 twelve month low of $192.38 and a twelve month high of $262.13. The firm has a market capitalization of $21.90 billion, a PE ratio of 29.66, a P/E/G ratio of 1.71 and a beta of 0.81. The firm’s 50-day moving average price is $239.71 and its 200 day moving average price is $239.34.

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 (EPS) for the quarter, topping the consensus estimate of $3.73 by $0.11. Laboratory Co. of America had a return on equity of 15.29% and a net margin of 5.73%. The company had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.41 billion. During the same period in the previous year, the firm posted $3.68 EPS. Laboratory Co. of America’s revenue was up 5.3% compared to the same quarter last year. On average, sell-side analysts predict that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Thursday, May 29th were issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.10%. Laboratory Co. of America’s payout ratio is 33.29%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Truist Financial increased their price target on Laboratory Co. of America from $274.00 to $290.00 and gave the stock a “buy” rating in a research report on Monday, May 12th. Piper Sandler reaffirmed a “neutral” rating and set a $280.00 price target (up from $260.00) on shares of Laboratory Co. of America in a research report on Tuesday, May 6th. Redburn Atlantic started coverage on Laboratory Co. of America in a research report on Wednesday, April 2nd. They set a “buy” rating and a $276.00 price target on the stock. Wall Street Zen lowered shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, April 18th. Finally, Barclays increased their target price on shares of Laboratory Co. of America from $240.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 30th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $274.00.

Insider Buying and Selling

In other news, CEO Adam H. Schechter sold 6,105 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $248.73, for a total value of $1,518,496.65. Following the completion of the sale, the chief executive officer now directly owns 98,962 shares in the company, valued at $24,614,818.26. This represents a 5.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Amy B. Summy sold 758 shares of the company’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 completion of the sale, the executive vice president now owns 5,302 shares of the company’s stock, valued at $1,228,314.34. This trade represents a 12.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,092 shares of company stock worth $2,971,820. Insiders own 0.84% of the company’s stock.

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.