Assetmark Inc. raised its stake in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 13.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,192 shares of the medical research company's stock after purchasing an additional 6,968 shares during the quarter. Assetmark Inc. owned 0.07% of Laboratory Co. of America worth $13,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of LH. Farther Finance Advisors LLC grew its holdings in shares of Laboratory Co. of America by 17.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,385 shares of the medical research company's stock valued at $310,000 after purchasing an additional 208 shares during the last quarter. Van ECK Associates Corp boosted its position in Laboratory Co. of America by 5.3% during the third quarter. Van ECK Associates Corp now owns 13,868 shares of the medical research company's stock valued at $3,050,000 after buying an additional 694 shares during the period. National Pension Service boosted its position in Laboratory Co. of America by 1.5% during the third quarter. National Pension Service now owns 159,040 shares of the medical research company's stock valued at $35,542,000 after buying an additional 2,404 shares during the period. Crestwood Advisors Group LLC bought a new position in shares of Laboratory Co. of America during the third quarter valued at about $209,000. Finally, Foster & Motley Inc. grew its position in Laboratory Co. of America by 5.0% during the 3rd quarter. Foster & Motley Inc. now owns 7,371 shares of the medical research company's stock worth $1,647,000 after acquiring an additional 349 shares during the last quarter. Hedge funds and other institutional investors own 95.94% of the company's stock.
Insider Activity
In other news, CMO Amy B. Summy sold 226 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $250.40, for a total transaction of $56,590.40. Following the completion of the sale, the chief marketing officer now owns 4,544 shares of the company's stock, valued at $1,137,817.60. This represents a 4.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Der Vaart Sandra D. Van sold 1,314 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $251.30, for a total transaction of $330,208.20. Following the completion of the transaction, the executive vice president now directly owns 2,171 shares in the company, valued at approximately $545,572.30. The trade was a 37.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,500 shares of company stock valued at $3,577,572 over the last three months. Insiders own 0.85% of the company's stock.
Laboratory Co. of America Stock Down 3.6 %
NYSE LH traded down $9.10 during mid-day trading on Monday, reaching $243.93. The stock had a trading volume of 1,062,154 shares, compared to its average volume of 617,537. The stock has a market cap of $20.42 billion, a PE ratio of 27.66, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $258.59. 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 $243.68 and a 200 day moving average price of $233.76.
Laboratory Co. of America (NYSE:LH - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share for the quarter, topping 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, research analysts expect that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.
Laboratory Co. of America Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be paid a $0.72 dividend. The ex-dividend date is Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.18%. Laboratory Co. of America's dividend payout ratio is presently 32.65%.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the stock. 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. Barclays cut 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 research report on Friday, February 7th. StockNews.com raised Laboratory Co. of America from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Morgan Stanley raised their price objective on Laboratory Co. of America from $260.00 to $270.00 and gave the company an "overweight" rating in a research report on Tuesday, December 17th. Finally, Citigroup raised shares of Laboratory Co. of America from a "neutral" rating to a "buy" rating and upped their target price for the stock from $250.00 to $300.00 in a research report on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $268.38.
Check Out Our Latest Stock Analysis on Laboratory Co. of America
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.
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