Allspring Global Investments Holdings LLC boosted its holdings in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 2.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,916,505 shares of the medical research company's stock after buying an additional 51,045 shares during the period. Laboratory Co. of America accounts for approximately 0.7% of Allspring Global Investments Holdings LLC's holdings, making the stock its 17th largest holding. Allspring Global Investments Holdings LLC owned approximately 2.29% of Laboratory Co. of America worth $437,357,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in LH. State Street Corp lifted its stake in shares of Laboratory Co. of America by 0.7% in the 3rd quarter. State Street Corp now owns 3,726,627 shares of the medical research company's stock valued at $832,827,000 after purchasing an additional 25,469 shares in the last quarter. Diamond Hill Capital Management Inc. raised its holdings in shares of Laboratory Co. of America by 1.5% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,978,686 shares of the medical research company's stock valued at $442,197,000 after buying an additional 29,046 shares during the period. Geode Capital Management LLC raised its holdings in shares of Laboratory Co. of America by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,964,743 shares of the medical research company's stock valued at $437,561,000 after buying an additional 13,298 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Laboratory Co. of America by 9.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company's stock valued at $431,405,000 after buying an additional 167,137 shares during the period. Finally, FMR LLC raised its holdings in shares of Laboratory Co. of America by 17.0% during the 3rd quarter. FMR LLC now owns 1,586,397 shares of the medical research company's stock valued at $354,528,000 after buying an additional 230,708 shares during the period. 95.94% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on LH shares. Hsbc Global Res upgraded Laboratory Co. of America from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 30th. Morgan Stanley lifted their price objective on Laboratory Co. of America from $260.00 to $270.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. Barclays dropped their price objective on Laboratory Co. of America from $271.00 to $260.00 and set an "equal weight" rating on the stock in a report on Friday, February 7th. Bank of America lifted their price objective on Laboratory Co. of America from $262.00 to $271.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Finally, Piper Sandler lifted their price objective on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $265.31.
Get Our Latest Research Report on Laboratory Co. of America
Laboratory Co. of America Stock Performance
NYSE:LH traded up $1.87 during midday trading on Friday, reaching $246.74. 565,887 shares of the company traded hands, compared to its average volume of 603,727. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $258.59. The firm has a market capitalization of $20.64 billion, a price-to-earnings ratio of 27.98, a price-to-earnings-growth ratio of 1.84 and a beta of 1.07. 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 company has a fifty day moving average price of $237.42 and a 200 day moving average price of $230.91.
Laboratory Co. of America (NYSE:LH - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 earnings per share (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%. On average, analysts expect that Laboratory Co. of America Holdings will post 15.96 EPS for the current fiscal year.
Laboratory Co. of America Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a yield of 1.17%. Laboratory Co. of America's dividend payout ratio (DPR) is presently 32.65%.
Insiders Place Their Bets
In other news, EVP Der Vaart Sandra D. Van sold 1,000 shares of the company's stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $239.42, for a total value of $239,420.00. Following the completion of the sale, the executive vice president now owns 2,670 shares in the company, valued at $639,251.40. This represents a 27.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Adam H. Schechter sold 6,121 shares of the company's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $244.62, for a total value of $1,497,319.02. Following the completion of the sale, the chief executive officer now 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 quarter, insiders sold 24,504 shares of company stock worth $5,905,692. 0.85% of the stock is owned by company insiders.
Laboratory Co. of America Company Profile
(
Free Report)
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
Before you consider Laboratory Co. of America, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Laboratory Co. of America wasn't on the list.
While Laboratory Co. of America currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
