Highland Capital Management LLC Has $3.55 Million Stake in Laboratory Co. of America Holdings (NYSE:LH)

Highland Capital Management LLC decreased its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 2.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,482 shares of the medical research company’s stock after selling 410 shares during the quarter. 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 hedge funds and other institutional investors have also bought and sold shares of the company. Mackenzie Financial Corp increased its holdings in Laboratory Co. of America by 65.1% in the 2nd quarter. Mackenzie Financial Corp now owns 13,384 shares of the medical research company’s stock valued at $2,724,000 after buying an additional 5,275 shares during the period. Creative Planning increased its holdings in Laboratory Co. of America by 14.7% in the 2nd quarter. Creative Planning now owns 12,854 shares of the medical research company’s stock valued at $2,616,000 after buying an additional 1,646 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in Laboratory Co. of America by 19.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,657 shares of the medical research company’s stock valued at $1,152,000 after buying an additional 913 shares during the period. B. Riley Wealth Advisors Inc. increased its holdings in Laboratory Co. of America by 2.4% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 3,516 shares of the medical research company’s stock valued at $715,000 after buying an additional 83 shares during the period. Finally, EP Wealth Advisors LLC increased its holdings in Laboratory Co. of America by 27.0% in the 2nd quarter. EP Wealth Advisors LLC now owns 1,226 shares of the medical research company’s stock valued at $250,000 after buying an additional 261 shares during the period. Institutional investors and hedge funds own 95.94% of the company’s stock.

Insider Activity at Laboratory Co. of America

In other news, Director Kerrii B. Anderson sold 1,000 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total value of $235,000.00. Following the completion of the sale, the director now owns 12,722 shares in the company, valued at $2,989,670. This represents a 7.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Adam H. Schechter sold 6,189 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $243.47, for a total transaction of $1,506,835.83. Following the completion of the sale, the chief executive officer now owns 87,441 shares of the company’s stock, valued at approximately $21,289,260.27. The trade was a 6.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,572 shares of company stock worth $5,915,209 in the last quarter. Company insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Down 0.9 %

Laboratory Co. of America stock opened at $246.36 on Thursday. 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 Holdings has a 12-month low of $191.97 and a 12-month high of $250.56. The firm’s fifty day moving average is $235.43 and its 200 day moving average is $227.96. The company has a market capitalization of $20.61 billion, a PE ratio of 47.65, a PEG ratio of 1.81 and a beta of 1.06.

Laboratory Co. of America Dividend Announcement

The business 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 dividend of $0.72 per share. The ex-dividend date is Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.17%. Laboratory Co. of America’s payout ratio is presently 55.71%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. HSBC raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. UBS Group decreased their price target on shares of Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a report on Tuesday. Barclays lifted their price target on shares of Laboratory Co. of America from $234.00 to $249.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Bank of America lifted their price target on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $275.00 price target (up from $265.00) on shares of Laboratory Co. of America in a 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 company has an average rating of “Moderate Buy” and a consensus target price of $261.77.

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.