Mariner LLC Buys 2,709 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Mariner LLC grew its stake in Laboratory Co. of America Holdings (NYSE:LH) by 25.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,215 shares of the medical research company’s stock after acquiring an additional 2,709 shares during the period. Mariner LLC’s holdings in Laboratory Co. of America were worth $3,030,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Cohen & Steers Inc. boosted its position in Laboratory Co. of America by 5.4% in the 4th quarter. Cohen & Steers Inc. now owns 1,177 shares of the medical research company’s stock valued at $270,000 after buying an additional 60 shares during the last quarter. SageView Advisory Group LLC acquired a new stake in Laboratory Co. of America in the fourth quarter worth about $224,000. Townsquare Capital LLC lifted its position in Laboratory Co. of America by 16.1% during the 4th quarter. Townsquare Capital LLC now owns 4,396 shares of the medical research company’s stock valued at $1,008,000 after purchasing an additional 611 shares during the period. Sterling Capital Management LLC grew its position in shares of Laboratory Co. of America by 51.8% during the 4th quarter. Sterling Capital Management LLC now owns 5,198 shares of the medical research company’s stock worth $1,192,000 after buying an additional 1,774 shares during the period. Finally, Paralel Advisors LLC raised its stake in shares of Laboratory Co. of America by 10.0% during the fourth quarter. Paralel Advisors LLC now owns 11,489 shares of the medical research company’s stock worth $2,635,000 after buying an additional 1,040 shares during the last quarter. 95.94% of the stock is owned by institutional investors.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, CMO Amy B. Summy sold 226 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $250.40, for a total transaction of $56,590.40. Following the sale, the chief marketing officer now directly owns 4,544 shares of the company’s stock, valued at approximately $1,137,817.60. This represents a 4.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Adam H. Schechter sold 6,121 shares of Laboratory Co. of America stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $244.62, for a total transaction of $1,497,319.02. Following the completion of the transaction, the chief executive officer now directly owns 86,445 shares of the company’s stock, valued at approximately $21,146,175.90. This trade represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,258 shares of company stock worth $3,518,177. Insiders own 0.84% of the company’s stock.

Laboratory Co. of America Stock Performance

Shares of Laboratory Co. of America stock opened at $212.43 on Tuesday. 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 firm has a market cap of $17.77 billion, a price-to-earnings ratio of 24.09, a price-to-earnings-growth ratio of 1.71 and a beta of 0.99. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year high of $258.59. The stock’s 50-day moving average is $236.97 and its 200-day moving average is $234.96.

Laboratory Co. of America (NYSE:LH) last released its earnings results on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, beating the consensus estimate 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%. Equities analysts predict that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Thursday, May 29th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.36%. Laboratory Co. of America’s dividend payout ratio (DPR) is currently 32.65%.

Analyst Ratings Changes

Several brokerages have commented on LH. Citigroup upgraded shares of Laboratory Co. of America from a “neutral” rating to a “buy” rating and upped their target price for the company from $250.00 to $300.00 in a research report on Tuesday, March 4th. Barclays reduced their target price on Laboratory Co. of America from $260.00 to $240.00 and set an “equal weight” rating on the stock in a report on Thursday, April 10th. Piper Sandler increased their price target on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. UBS Group lowered their target price on shares of Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Finally, Redburn Atlantic initiated coverage on shares of Laboratory Co. of America in a report on Wednesday, April 2nd. They issued a “buy” rating and a $276.00 price target for the company. Four equities research 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 MarketBeat.com, Laboratory Co. of America currently has an average rating of “Moderate Buy” and a consensus target price of $268.77.

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.