Laboratory Co. of America Holdings (NYSE:LH) Shares Purchased by Aviva PLC

Aviva PLC increased its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 23.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,490 shares of the medical research company's stock after purchasing an additional 9,602 shares during the quarter. Aviva PLC owned 0.06% of Laboratory Co. of America worth $11,578,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of LH. Graney & King LLC purchased a new stake in shares of Laboratory Co. of America in the 4th quarter valued at $26,000. Fortitude Family Office LLC lifted its position in shares of Laboratory Co. of America by 312.5% during the fourth quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company's stock worth $30,000 after purchasing an additional 100 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Laboratory Co. of America by 309.8% in the fourth quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company's stock valued at $39,000 after purchasing an additional 127 shares during the period. Human Investing LLC acquired a new position in shares of Laboratory Co. of America in the fourth quarter valued at approximately $39,000. Finally, Heck Capital Advisors LLC purchased a new stake in Laboratory Co. of America during the 4th quarter worth approximately $44,000. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Laboratory Co. of America Stock Performance

NYSE LH traded up $5.93 on Monday, reaching $227.39. The stock had a trading volume of 76,772 shares, compared to its average volume of 635,767. The stock has a market cap of $19.03 billion, a P/E ratio of 25.78, a price-to-earnings-growth ratio of 1.71 and a beta of 0.99. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $258.59. The business's 50-day moving average price is $240.04 and its 200 day moving average price is $234.91. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44.

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Laboratory Co. of America (NYSE:LH - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share for the quarter, topping 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, equities analysts expect that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

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

Insider Transactions at Laboratory Co. of America

In other news, CEO Adam H. Schechter sold 6,121 shares of the business's stock in a transaction that occurred on 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 sale, the chief executive officer now owns 86,445 shares of the company's stock, valued at $21,146,175.90. The trade was a 6.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Mark S. Schroeder sold 5,339 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $249.23, for a total value of $1,330,638.97. Following the completion of the transaction, the chief operating officer now directly owns 4,960 shares of the company's stock, valued at $1,236,180.80. The trade was a 51.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,258 shares of company stock worth $3,518,177 over the last ninety days. 0.85% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Redburn Atlantic began coverage on shares of Laboratory Co. of America in a research note on Wednesday, April 2nd. They issued a "buy" rating and a $276.00 price target for the company. Jefferies Financial Group upped their price target on Laboratory Co. of America from $275.00 to $290.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. UBS Group decreased their price objective on Laboratory Co. of America from $293.00 to $286.00 and set a "buy" rating for the company in a research note on Tuesday, January 28th. Piper Sandler upped their target price on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Finally, Citigroup upgraded shares of Laboratory Co. of America from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $250.00 to $300.00 in a research note on Tuesday, March 4th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $268.77.

Laboratory Co. of America Profile

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.