APG Asset Management N.V. Invests $10.10 Million in Laboratory Co. of America Holdings (NYSE:LH)

APG Asset Management N.V. acquired a new stake in Laboratory Co. of America Holdings (NYSE:LH - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 45,600 shares of the medical research company's stock, valued at approximately $10,098,000. APG Asset Management N.V. owned about 0.05% of Laboratory Co. of America at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Bank of Nova Scotia lifted its position in shares of Laboratory Co. of America by 125.8% during the 4th quarter. Bank of Nova Scotia now owns 27,675 shares of the medical research company's stock valued at $6,346,000 after acquiring an additional 15,420 shares during the period. Southeast Asset Advisors LLC bought a new stake in Laboratory Co. of America during the fourth quarter worth about $1,909,000. Cerity Partners LLC grew its stake in Laboratory Co. of America by 4.2% during the fourth quarter. Cerity Partners LLC now owns 85,156 shares of the medical research company's stock worth $19,491,000 after buying an additional 3,462 shares in the last quarter. FMR LLC increased its holdings in Laboratory Co. of America by 2.2% in the 4th quarter. FMR LLC now owns 1,620,826 shares of the medical research company's stock valued at $371,688,000 after buying an additional 34,429 shares during the period. Finally, 2Xideas AG raised its position in shares of Laboratory Co. of America by 49.1% in the 4th quarter. 2Xideas AG now owns 56,198 shares of the medical research company's stock valued at $12,887,000 after buying an additional 18,495 shares in the last quarter. 95.94% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Barclays decreased their price objective on shares of Laboratory Co. of America from $260.00 to $240.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 10th. Truist Financial reduced their price objective on Laboratory Co. of America from $285.00 to $274.00 and set a "buy" rating on the stock in a research note on Friday. Citigroup raised Laboratory Co. of America from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $250.00 to $300.00 in a research note on Tuesday, March 4th. Piper Sandler raised 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 note on Monday, February 10th. Finally, Morgan Stanley upped their price objective on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $268.77.

Laboratory Co. of America Trading Down 0.9 %

LH stock traded down $2.03 during midday trading on Tuesday, hitting $226.01. The stock had a trading volume of 365,397 shares, compared to its average volume of 638,809. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67. The business has a fifty day moving average price of $239.60 and a two-hundred day moving average price of $234.95. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $258.59. The firm has a market cap of $18.91 billion, a P/E ratio of 25.62, a price-to-earnings-growth ratio of 1.71 and a beta of 0.99.

Laboratory Co. of America (NYSE:LH - Get Free Report) last announced 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%. On average, sell-side analysts predict that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Thursday, May 29th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.27%. Laboratory Co. of America's dividend payout ratio is presently 32.65%.

Insiders Place Their Bets

In other news, COO Mark S. Schroeder sold 5,339 shares of the business's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $249.23, for a total transaction of $1,330,638.97. Following the completion of the sale, the chief operating officer now owns 4,960 shares in the company, valued at $1,236,180.80. The trade was a 51.84 % 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, Director Kerrii B. Anderson sold 500 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $255.63, for a total value of $127,815.00. Following the transaction, the director now directly owns 13,166 shares in the company, valued at $3,365,624.58. The trade was a 3.66 % decrease in their ownership of the stock. 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. 0.85% of the stock is currently owned by company insiders.

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.