Iridian Asset Management LLC CT Sells 1,721 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Iridian Asset Management LLC CT cut its position in Laboratory Co. of America Holdings (NYSE:LH) by 7.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,495 shares of the medical research company’s stock after selling 1,721 shares during the period. Laboratory Co. of America accounts for about 1.3% of Iridian Asset Management LLC CT’s investment portfolio, making the stock its 28th biggest position. Iridian Asset Management LLC CT’s holdings in Laboratory Co. of America were worth $4,700,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Laboratory Co. of America by 2.6% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 9,787 shares of the medical research company’s stock worth $2,244,000 after purchasing an additional 249 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in Laboratory Co. of America by 0.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 190,322 shares of the medical research company’s stock worth $43,645,000 after acquiring an additional 1,779 shares during the last quarter. GHP Investment Advisors Inc. increased its position in Laboratory Co. of America by 4.4% in the 4th quarter. GHP Investment Advisors Inc. now owns 37,074 shares of the medical research company’s stock valued at $8,502,000 after acquiring an additional 1,577 shares in the last quarter. Choreo LLC raised its stake in shares of Laboratory Co. of America by 103.7% in the fourth quarter. Choreo LLC now owns 5,099 shares of the medical research company’s stock worth $1,167,000 after acquiring an additional 2,596 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Laboratory Co. of America by 28.5% during 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 purchasing an additional 2,081 shares in the last quarter. 95.94% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 1,000 shares of Laboratory Co. of America stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total transaction of $235,000.00. Following the completion of the transaction, the director now directly owns 12,722 shares of the company’s stock, valued at $2,989,670. The trade was a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Glenn A. Eisenberg sold 11,711 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $240.43, for a total transaction of $2,815,675.73. Following the completion of the transaction, the executive vice president now directly owns 31,289 shares in the company, valued at $7,522,814.27. The trade was a 27.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,572 shares of company stock worth $5,915,209. Insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Down 1.1 %

Laboratory Co. of America stock opened at $247.33 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $258.59. The company has a fifty day simple moving average of $236.46 and a 200 day simple moving average of $229.34. The company has a market cap of $20.69 billion, a P/E ratio of 47.84, a price-to-earnings-growth ratio of 1.86 and a beta of 1.07.

Laboratory Co. of America (NYSE:LH) last released its earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.40 by $0.05. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. Research analysts anticipate that Laboratory Co. of America Holdings will post 14.51 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be paid a $0.72 dividend. The ex-dividend date is Thursday, February 27th. This represents a $2.88 annualized dividend and a dividend yield of 1.16%. Laboratory Co. of America’s dividend payout ratio is presently 55.71%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on LH shares. Evercore ISI raised shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and raised their price target for the company from $260.00 to $265.00 in a report on Tuesday, January 7th. Barclays lifted their price target on shares of Laboratory Co. of America from $249.00 to $271.00 and gave the stock an “equal weight” rating in a research report on Monday. Morgan Stanley increased their price objective on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. HSBC raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. Finally, StockNews.com downgraded Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Laboratory Co. of America presently has a consensus rating of “Moderate Buy” and a consensus price target of $264.62.

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.