Asset Management One Co. Ltd. grew its stake in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 3.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,799 shares of the medical research company's stock after purchasing an additional 1,205 shares during the period. Asset Management One Co. Ltd.'s holdings in Laboratory Co. of America were worth $7,558,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently bought and sold shares of LH. State Street Corp boosted 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. boosted its position in Laboratory Co. of America by 1.5% in the third 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 in the last quarter. Geode Capital Management LLC boosted its position in Laboratory Co. of America by 0.7% in the third 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 in the last quarter. JPMorgan Chase & Co. grew its stake in Laboratory Co. of America by 9.5% during the third quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company's stock worth $431,405,000 after buying an additional 167,137 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Laboratory Co. of America by 2.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,916,505 shares of the medical research company's stock worth $437,357,000 after buying an additional 51,045 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several brokerages have recently commented on LH. Bank of America increased their target price 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. HSBC raised shares of Laboratory Co. of America from a "hold" rating to a "buy" rating in a report on Wednesday, October 30th. Morgan Stanley boosted 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 research note on Tuesday, December 17th. Hsbc Global Res upgraded shares of Laboratory Co. of America from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 30th. Finally, Evercore ISI raised shares of Laboratory Co. of America from an "in-line" rating to an "outperform" rating and raised their price target for the company from $260.00 to $265.00 in a report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $265.31.
Check Out Our Latest Research Report on Laboratory Co. of America
Laboratory Co. of America Trading Up 0.3 %
LH traded up $0.69 during midday trading on Friday, reaching $249.86. 410,967 shares of the company were exchanged, compared to its average volume of 593,719. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44. The stock has a market capitalization of $20.90 billion, a P/E ratio of 28.33, a PEG ratio of 1.70 and a beta of 1.07. The stock's 50-day simple moving average is $238.57 and its 200 day simple moving average is $231.55. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year high of $258.59.
Laboratory Co. of America (NYSE:LH - Get Free Report) last issued 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 net margin of 5.73% and a return on equity of 15.29%. As a group, analysts forecast 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 firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Thursday, February 27th. Laboratory Co. of America's payout ratio is presently 32.65%.
Insiders Place Their Bets
In other news, CEO Adam H. Schechter sold 6,121 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 86,445 shares of the company's stock, valued at $21,146,175.90. This represents a 6.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dwight Gary Gilliland sold 1,000 shares of the business's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $241.00, for a total transaction of $241,000.00. Following the completion of the sale, the director now directly owns 7,712 shares in the company, valued at $1,858,592. This represents a 11.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,832 shares of company stock worth $4,788,995. Corporate insiders own 0.85% of the company's stock.
Laboratory Co. of America 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.
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