Laboratory Co. of America Holdings (NYSE:LH) Stake Lessened by Highland Capital Management LLC

Highland Capital Management LLC cut its stake in Laboratory Co. of America Holdings (NYSE:LH) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,482 shares of the medical research company’s stock after selling 410 shares during the period. Highland Capital Management LLC’s holdings in Laboratory Co. of America were worth $3,550,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. OneDigital Investment Advisors LLC boosted its holdings in shares of Laboratory Co. of America by 115.7% in the third quarter. OneDigital Investment Advisors LLC now owns 6,088 shares of the medical research company’s stock valued at $1,361,000 after acquiring an additional 3,265 shares in the last quarter. Alexander Randolph Advisory Inc. bought a new position in shares of Laboratory Co. of America in the third quarter valued at approximately $955,000. Wealthcare Advisory Partners LLC grew its position in Laboratory Co. of America by 23.9% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 2,543 shares of the medical research company’s stock worth $583,000 after buying an additional 490 shares during the last quarter. Mutual of America Capital Management LLC acquired a new position in Laboratory Co. of America in the third quarter worth approximately $2,316,000. Finally, Barclays PLC grew its position in Laboratory Co. of America by 11.8% in the third quarter. Barclays PLC now owns 620,721 shares of the medical research company’s stock worth $138,718,000 after buying an additional 65,356 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors.

Laboratory Co. of America Stock Performance

NYSE LH opened at $246.36 on Thursday. The stock has a market cap of $20.61 billion, a P/E ratio of 47.65, a PEG ratio of 1.81 and a beta of 1.06. The company’s 50-day simple moving average is $235.43 and its 200 day simple moving average is $227.96. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $250.56. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.66.

Laboratory Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th will be paid a dividend of $0.72 per share. The ex-dividend date is Thursday, February 27th. This represents a $2.88 annualized dividend and a yield of 1.17%. Laboratory Co. of America’s dividend payout ratio is 55.71%.

Analysts Set New Price Targets

LH has been the topic of several recent research reports. Piper Sandler lifted their price target on shares of Laboratory Co. of America from $235.00 to $240.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. UBS Group lowered 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 report on Tuesday. Hsbc Global Res upgraded shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Morgan Stanley lifted their price objective on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, Evercore ISI upgraded shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $260.00 to $265.00 in a research report on Tuesday, January 7th. Four equities research 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 company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $261.77.

Insiders Place Their Bets

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,189 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $243.47, for a total value of $1,506,835.83. Following the completion of the sale, the chief executive officer now owns 87,441 shares in the company, valued at $21,289,260.27. This trade represents a 6.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Der Vaart Sandra D. Van sold 1,000 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $239.42, for a total transaction of $239,420.00. Following the completion of the sale, the executive vice president now owns 2,670 shares of the company’s stock, valued at approximately $639,251.40. This represents a 27.25 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,572 shares of company stock valued at $5,915,209. 0.85% of the stock is currently owned by insiders.

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.