Zacks Investment Management Has $17.94 Million Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Zacks Investment Management trimmed its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 10.8% in the fourth quarter, HoldingsChannel reports. The firm owned 78,242 shares of the medical research company’s stock after selling 9,461 shares during the period. Zacks Investment Management’s holdings in Laboratory Co. of America were worth $17,942,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Graney & King LLC bought a new position in Laboratory Co. of America in the 4th quarter worth approximately $26,000. Fortitude Family Office LLC lifted its stake in shares of Laboratory Co. of America by 312.5% during the fourth quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 100 shares during the period. Geneos Wealth Management Inc. boosted its holdings in Laboratory Co. of America by 309.8% in 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 last quarter. Human Investing LLC acquired a new stake in Laboratory Co. of America in the fourth quarter worth about $39,000. Finally, Heck Capital Advisors LLC bought a new stake in Laboratory Co. of America during the 4th quarter worth about $44,000. Institutional investors own 95.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LH. Evercore ISI upgraded shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $260.00 to $265.00 in a research report on Tuesday, January 7th. Citigroup raised Laboratory Co. of America from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $250.00 to $300.00 in a research note on Tuesday, March 4th. StockNews.com upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Sunday, April 6th. Barclays reduced their target price on Laboratory Co. of America from $260.00 to $240.00 and set an “equal weight” rating on the stock in a report on Thursday, April 10th. Finally, UBS Group reduced their price objective on shares of Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $268.77.

Insiders Place Their Bets

In other news, EVP Amy B. Summy sold 758 shares of the business’s stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $231.67, for a total transaction of $175,605.86. Following the sale, the executive vice president now directly owns 5,302 shares in the company, valued at approximately $1,228,314.34. The trade was a 12.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Adam H. Schechter sold 6,121 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 86,445 shares of the company’s stock, valued at approximately $21,146,175.90. This trade represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,258 shares of company stock valued at $3,518,177. 0.85% of the stock is currently owned by insiders.

Laboratory Co. of America Price Performance

Shares of NYSE:LH opened at $220.59 on Thursday. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $18.46 billion, a PE ratio of 25.01, a PEG ratio of 1.71 and a beta of 0.99. The firm has a 50 day moving average of $238.66 and a 200-day moving average of $234.79. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $258.59.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 earnings per share for the quarter, beating 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%. On average, equities research 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Thursday, May 29th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.31%. Laboratory Co. of America’s dividend payout ratio is currently 32.65%.

About Laboratory Co. of America

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