Laboratory Co. of America Holdings (NYSE:LH) Position Reduced by AMI Asset Management Corp

AMI Asset Management Corp cut its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 2.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 204,372 shares of the medical research company’s stock after selling 4,807 shares during the quarter. Laboratory Co. of America accounts for 2.5% of AMI Asset Management Corp’s portfolio, making the stock its 16th largest position. AMI Asset Management Corp owned about 0.24% of Laboratory Co. of America worth $46,867,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Intech Investment Management LLC purchased a new stake in shares of Laboratory Co. of America during the second quarter valued at $987,000. AE Wealth Management LLC purchased a new stake in Laboratory Co. of America during the second quarter valued at about $239,000. Pacer Advisors Inc. boosted its holdings in shares of Laboratory Co. of America by 16.0% in the second quarter. Pacer Advisors Inc. now owns 19,598 shares of the medical research company’s stock worth $3,988,000 after buying an additional 2,705 shares during the period. Sei Investments Co. increased its position in shares of Laboratory Co. of America by 27.9% in the second quarter. Sei Investments Co. now owns 168,476 shares of the medical research company’s stock worth $34,286,000 after acquiring an additional 36,720 shares in the last quarter. Finally, Summit Trail Advisors LLC raised its holdings in shares of Laboratory Co. of America by 12.8% during the second quarter. Summit Trail Advisors LLC now owns 1,254 shares of the medical research company’s stock valued at $255,000 after acquiring an additional 142 shares during the period. Institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Stock Performance

Shares of NYSE:LH opened at $238.44 on Tuesday. The firm’s 50 day simple moving average is $234.80 and its 200 day simple moving average is $225.91. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $247.99. The company has a market capitalization of $19.94 billion, a price-to-earnings ratio of 46.12, a P/E/G ratio of 1.78 and a beta of 1.06. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.44 and a quick ratio of 1.30.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings data on Thursday, October 24th. The medical research company reported $3.50 EPS for the quarter, topping the consensus estimate of $3.48 by $0.02. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter last year, the business posted $3.38 EPS. The firm’s revenue was up 7.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Laboratory Co. of America Holdings will post 14.51 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

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 given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.21%. Laboratory Co. of America’s dividend payout ratio is presently 55.71%.

Insider Buying and Selling at Laboratory Co. of America

In related news, CMO Amy B. Summy sold 3,672 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $238.91, for a total value of $877,277.52. Following the completion of the transaction, the chief marketing officer now directly owns 4,318 shares of the company’s stock, valued at approximately $1,031,613.38. This trade represents a 45.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kerrii B. Anderson sold 1,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $235.00, for a total transaction of $235,000.00. Following the transaction, the director now owns 12,722 shares in the company, valued at approximately $2,989,670. The trade was a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,572 shares of company stock worth $6,145,209. Corporate insiders own 0.85% of the company’s stock.

Analysts Set New Price Targets

LH has been the subject of a number of research reports. Bank of America lifted their price objective on Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Evercore ISI raised Laboratory Co. of America from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $260.00 to $265.00 in a research note on Tuesday, January 7th. Morgan Stanley raised their price target 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 Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $275.00 price target (up previously from $265.00) on shares of Laboratory Co. of America in a research report on Tuesday, December 10th. Four 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 data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $260.54.

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.