Illinois Municipal Retirement Fund Cuts Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

Illinois Municipal Retirement Fund decreased its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 8.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 28,937 shares of the medical research company’s stock after selling 2,598 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Laboratory Co. of America were worth $6,636,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in LH. SouthState Corp acquired a new stake in Laboratory Co. of America during the 3rd quarter worth approximately $28,000. Fortitude Family Office LLC increased its position 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 worth $30,000 after acquiring an additional 100 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of 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 in the last quarter. Human Investing LLC acquired a new stake in shares of Laboratory Co. of America in the fourth quarter valued at $39,000. Finally, Kennebec Savings Bank purchased a new position in Laboratory Co. of America in the third quarter valued at $42,000. Institutional investors and hedge funds own 95.94% of the company’s stock.

Laboratory Co. of America Stock Performance

Shares of LH stock opened at $251.84 on Thursday. The stock’s 50-day moving average is $240.32 and its two-hundred day moving average is $232.34. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $258.59. The firm has a market cap of $21.06 billion, a price-to-earnings ratio of 28.55, a PEG ratio of 1.71 and a beta of 1.07.

Laboratory Co. of America (NYSE:LH) last released its quarterly 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 return on equity of 15.29% and a net margin of 5.73%. Analysts predict that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be issued a $0.72 dividend. The ex-dividend date is Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.14%. Laboratory Co. of America’s payout ratio is 32.65%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. UBS Group cut their price target on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Bank of America upped their target price on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Jefferies Financial Group raised 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 report on Thursday, February 6th. Barclays lowered their price target on shares of Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating for the company in a report on Friday, February 7th. Finally, Morgan Stanley raised 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. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $265.75.

Insider Activity at Laboratory Co. of America

In related news, Director Kerrii B. Anderson sold 1,000 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $235.00, for a total value of $235,000.00. Following the transaction, the director now owns 12,722 shares in the company, valued at $2,989,670. The trade was a 7.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Glenn A. Eisenberg sold 11,711 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $240.43, for a total value of $2,815,675.73. Following the sale, the executive vice president now directly owns 31,289 shares of the company’s stock, 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. Insiders sold a total of 20,058 shares of company stock worth $4,845,585 in the last 90 days. 0.85% of the stock is owned by insiders.

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.