2Xideas AG Boosts Stake in Laboratory Co. of America Holdings (NYSE:LH)

2Xideas AG lifted its stake in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 49.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 56,198 shares of the medical research company's stock after acquiring an additional 18,495 shares during the period. Laboratory Co. of America makes up 1.7% of 2Xideas AG's investment portfolio, making the stock its 22nd biggest position. 2Xideas AG owned about 0.07% of Laboratory Co. of America worth $12,887,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Empowered Funds LLC raised its stake in shares of Laboratory Co. of America by 0.5% during the fourth quarter. Empowered Funds LLC now owns 8,025 shares of the medical research company's stock worth $1,840,000 after acquiring an additional 43 shares in the last quarter. SP Asset Management LLC grew its holdings in shares of Laboratory Co. of America by 0.3% during the 4th quarter. SP Asset Management LLC now owns 15,186 shares of the medical research company's stock valued at $3,483,000 after purchasing an additional 43 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in Laboratory Co. of America by 0.4% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 12,780 shares of the medical research company's stock worth $2,931,000 after purchasing an additional 45 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in Laboratory Co. of America by 0.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,194 shares of the medical research company's stock worth $1,650,000 after purchasing an additional 46 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its position in Laboratory Co. of America by 16.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 354 shares of the medical research company's stock valued at $81,000 after buying an additional 50 shares during the period. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity

In other news, Director Kerrii B. Anderson sold 500 shares of Laboratory Co. of America stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $255.63, for a total value of $127,815.00. Following the completion of the transaction, the director now owns 13,166 shares of the company's stock, valued at $3,365,624.58. The trade was a 3.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Adam H. Schechter sold 6,121 shares of the company's stock in a transaction dated Tuesday, February 11th. The stock was 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 owns 86,445 shares in the company, valued at approximately $21,146,175.90. The trade was a 6.61 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,258 shares of company stock worth $3,518,177. Insiders own 0.85% of the company's stock.

Wall Street Analyst Weigh In

LH has been the subject of a number of recent research reports. Barclays lowered their target price on Laboratory Co. of America from $260.00 to $240.00 and set an "equal weight" rating for the company in a research note on Thursday. Redburn Atlantic started coverage on Laboratory Co. of America in a research report on Wednesday, April 2nd. They issued a "buy" rating and a $276.00 price objective for the company. Evercore ISI upgraded shares of Laboratory Co. of America from an "in-line" rating to an "outperform" rating and raised their target price for the stock from $260.00 to $265.00 in a report on Tuesday, January 7th. Truist Financial lowered their price target on shares of Laboratory Co. of America from $285.00 to $274.00 and set a "buy" rating for the company in a report on Friday. Finally, UBS Group cut 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, January 28th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $268.77.

Laboratory Co. of America Stock Up 0.8 %

LH traded up $1.81 on Friday, hitting $220.42. The company had a trading volume of 510,825 shares, compared to its average volume of 637,248. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $258.59. The stock has a fifty day simple moving average of $240.55 and a 200-day simple moving average of $234.79. 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 capitalization of $18.45 billion, a P/E ratio of 24.77, a P/E/G ratio of 1.71 and a beta of 0.99.

Laboratory Co. of America (NYSE:LH - Get Free Report) last released its earnings results on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, beating 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%. As a group, equities analysts expect that Laboratory Co. of America Holdings will post 16.01 EPS 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. Shareholders of record on Thursday, May 29th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.31%. Laboratory Co. of America's dividend 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.