By otakuyassine3@gmail.com 
Blair William & Co. IL lessened its holdings in Laboratory Co. of America Holdings (NYSE:LH – Free Report) by 5.4% during the 4th quarter, Holdings Channel reports. The firm owned 4,363 shares of the medical research company’s stock after selling 251 shares during the period. Blair William & Co. IL’s holdings in Laboratory Co. of America were worth $1,001,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. UniSuper Management Pty Ltd grew its stake in shares of Laboratory Co. of America by 16.9% during the fourth quarter. UniSuper Management Pty Ltd now owns 10,488 shares of the medical research company’s stock worth $2,405,000 after purchasing an additional 1,519 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Laboratory Co. of America by 11.4% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 133,349 shares of the medical research company’s stock worth $30,557,000 after buying an additional 13,661 shares during the period. Korea Investment CORP increased its stake in shares of Laboratory Co. of America by 36.0% in the 4th quarter. Korea Investment CORP now owns 37,058 shares of the medical research company’s stock valued at $8,498,000 after acquiring an additional 9,800 shares during the last quarter. Graney & King LLC acquired a new stake in shares of Laboratory Co. of America in the 4th quarter valued at approximately $26,000. Finally, Banco BTG Pactual S.A. bought a new position in Laboratory Co. of America during the 4th quarter worth approximately $775,000. Institutional investors and hedge funds own 95.94% of the company’s stock.
Laboratory Co. of America Price Performance
NYSE LH opened at $236.74 on Thursday. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $258.59. The firm’s 50 day moving average is $244.33 and its 200-day moving average is $234.88. The company has a market capitalization of $19.82 billion, a PE ratio of 26.84, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67.
Laboratory Co. of America (NYSE:LH – Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) 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%. Equities research analysts anticipate 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 business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th were paid a $0.72 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a yield of 1.22%. Laboratory Co. of America’s dividend payout ratio is 32.65%.
Analyst Ratings Changes
Several research firms have weighed in on LH. Morgan Stanley increased their target price on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. StockNews.com downgraded Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Saturday, March 29th. Redburn Atlantic started coverage on Laboratory Co. of America in a report on Wednesday. They issued a “buy” rating and a $276.00 price target for the company. Piper Sandler lifted their price objective on Laboratory Co. of America from $240.00 to $260.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Finally, Citigroup raised Laboratory Co. of America from a “neutral” rating to a “buy” rating and increased their target price for the stock from $250.00 to $300.00 in a research note on Tuesday, March 4th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $270.38.
Read Our Latest Research Report on LH
Insiders Place Their Bets
In other news, EVP Amy B. Summy sold 758 shares of the business’s stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $231.67, for a total transaction of $175,605.86. Following the transaction, the executive vice president now directly owns 5,302 shares in the company, valued at $1,228,314.34. The trade was a 12.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 completion of the sale, the director now owns 13,166 shares of the company’s stock, valued at $3,365,624.58. This trade represents a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,258 shares of company stock valued at $3,753,177 in the last 90 days. 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.
Further Reading
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