Maryland State Retirement & Pension System Sells 150 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Maryland State Retirement & Pension System decreased its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 3.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 4,652 shares of the medical research company’s stock after selling 150 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Laboratory Co. of America were worth $1,067,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fortitude Family Office LLC increased its holdings in shares of Laboratory Co. of America by 312.5% during the 4th quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock worth $30,000 after purchasing an additional 100 shares during the period. Geneos Wealth Management Inc. increased its holdings in shares of Laboratory Co. of America by 309.8% during the 4th quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock worth $39,000 after purchasing an additional 127 shares during the period. Human Investing LLC bought a new position in shares of Laboratory Co. of America during the 4th quarter worth about $39,000. True Wealth Design LLC increased its holdings in shares of Laboratory Co. of America by 3,660.0% during the 3rd quarter. True Wealth Design LLC now owns 188 shares of the medical research company’s stock worth $42,000 after purchasing an additional 183 shares during the period. Finally, Heck Capital Advisors LLC bought a new position in shares of Laboratory Co. of America during the 4th quarter worth about $44,000. Institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Price Performance

Shares of LH stock opened at $233.97 on Friday. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $258.59. The firm’s 50 day moving average is $245.16 and its 200-day moving average is $234.31. The firm has a market capitalization of $19.58 billion, a price-to-earnings ratio of 26.53, a PEG ratio of 1.71 and a beta of 1.12. 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 announced its earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.40 by $0.05. Laboratory Co. of America had a net margin of 5.73% and a return on equity of 15.29%. Sell-side analysts forecast that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Thursday, February 27th were issued a $0.72 dividend. The ex-dividend date was Thursday, February 27th. This represents a $2.88 annualized dividend and a yield of 1.23%. Laboratory Co. of America’s dividend payout ratio is currently 32.65%.

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, CMO Amy B. Summy sold 226 shares of the company’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 approximately $1,137,817.60. This represents a 4.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adam H. Schechter sold 6,121 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $244.62, for a total transaction of $1,497,319.02. Following the sale, the chief executive officer now directly owns 86,445 shares of the company’s stock, valued at $21,146,175.90. This represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,500 shares of company stock worth $3,577,572 over the last ninety days. Company insiders own 0.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Jefferies Financial Group upped their target price on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Bank of America upped their target price on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a research note on Friday, December 13th. UBS Group lowered their target price 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. StockNews.com raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Finally, Piper Sandler upped their target price on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $268.38.

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.