Rockefeller Capital Management L.P. Lowers Position in Laboratory Co. of America Holdings (NYSE:LH)

Rockefeller Capital Management L.P. trimmed its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 5.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,644 shares of the medical research company’s stock after selling 793 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Laboratory Co. of America were worth $2,900,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Barclays PLC increased its position in shares of 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 purchasing an additional 65,356 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Laboratory Co. of America during the 3rd quarter valued at $604,000. Te Ahumairangi Investment Management Ltd lifted its holdings in shares of Laboratory Co. of America by 9.0% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 25,597 shares of the medical research company’s stock worth $5,688,000 after acquiring an additional 2,124 shares during the last quarter. World Investment Advisors LLC purchased a new position in Laboratory Co. of America in the third quarter worth $5,955,000. Finally, Wilmington Savings Fund Society FSB increased its stake in Laboratory Co. of America by 34.6% in the third quarter. Wilmington Savings Fund Society FSB now owns 25,847 shares of the medical research company’s stock valued at $5,776,000 after acquiring an additional 6,651 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on LH. Redburn Atlantic started coverage on Laboratory Co. of America in a research report on Wednesday, April 2nd. They set a “buy” rating and a $276.00 price objective on the stock. Truist Financial reduced their price target on shares of Laboratory Co. of America from $285.00 to $274.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Barclays lowered their price objective on shares of Laboratory Co. of America from $260.00 to $240.00 and set an “equal weight” rating for the company in a report on Thursday, April 10th. Jefferies Financial Group increased 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. Finally, Evercore ISI raised shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $260.00 to $265.00 in a research note on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $268.77.

Insiders Place Their Bets

In related news, CEO Adam H. Schechter sold 6,121 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $244.62, for a total value of $1,497,319.02. Following the sale, the chief executive officer now owns 86,445 shares in the company, valued at $21,146,175.90. This represents a 6.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kerrii B. Anderson sold 500 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $255.63, for a total transaction of $127,815.00. Following the sale, the director now owns 13,166 shares of the company’s stock, valued at approximately $3,365,624.58. This represents a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,258 shares of company stock worth $3,518,177. Company insiders own 0.84% of the company’s stock.

Laboratory Co. of America Stock Down 1.5 %

Shares of NYSE:LH opened at $217.25 on Friday. 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 debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30. The stock’s 50-day moving average is $237.54 and its 200 day moving average is $234.73. The company has a market cap of $18.18 billion, a PE ratio of 24.63, a P/E/G ratio of 1.71 and a beta of 0.99.

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 for the quarter, beating the consensus estimate 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 anticipate that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Thursday, May 29th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.33%. Laboratory Co. of America’s payout ratio is 32.65%.

Laboratory Co. of America Company Profile

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.