Chevy Chase Trust Holdings LLC lowered its position in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 2.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 47,873 shares of the medical research company's stock after selling 1,252 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.06% of Laboratory Co. of America worth $10,978,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. State Street Corp boosted its stake in Laboratory Co. of America by 0.7% during the third quarter. State Street Corp now owns 3,726,627 shares of the medical research company's stock worth $832,827,000 after buying an additional 25,469 shares during the period. Diamond Hill Capital Management Inc. boosted its stake in Laboratory Co. of America by 1.5% during the third quarter. Diamond Hill Capital Management Inc. now owns 1,978,686 shares of the medical research company's stock worth $442,197,000 after buying an additional 29,046 shares during the period. Geode Capital Management LLC boosted its stake in Laboratory Co. of America by 0.7% during the third quarter. Geode Capital Management LLC now owns 1,964,743 shares of the medical research company's stock worth $437,561,000 after buying an additional 13,298 shares during the period. JPMorgan Chase & Co. boosted 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 period. Finally, Allspring Global Investments Holdings LLC boosted its stake in 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 during the period. Hedge funds and other institutional investors own 95.94% of the company's stock.
Analyst Ratings Changes
LH has been the subject of several research analyst reports. StockNews.com raised shares of Laboratory Co. of America from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Morgan Stanley increased 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. Evercore ISI raised shares of Laboratory Co. of America from an "in-line" rating to an "outperform" rating and increased their target price for the stock from $260.00 to $265.00 in a research note on Tuesday, January 7th. Barclays lowered their price objective on shares of Laboratory Co. of America from $271.00 to $260.00 and set an "equal weight" rating for the company in a research note on Friday, February 7th. Finally, Robert W. Baird raised their price objective on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the company an "outperform" rating in a research note on Friday, October 25th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $265.31.
Read Our Latest Report on Laboratory Co. of America
Insider Buying and Selling at Laboratory Co. of America
In related news, Director Kerrii B. Anderson sold 1,000 shares of Laboratory Co. of America stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total transaction of $235,000.00. Following the sale, the director now directly owns 12,722 shares in the company, valued at $2,989,670. The trade was a 7.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Adam H. Schechter sold 6,121 shares of Laboratory Co. of America stock in a transaction dated 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 sale, the chief executive officer now owns 86,445 shares in the company, valued at approximately $21,146,175.90. This represents a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,504 shares of company stock worth $5,666,272. 0.85% of the stock is owned by insiders.
Laboratory Co. of America Stock Performance
LH stock traded up $1.33 on Thursday, hitting $249.15. The company's stock had a trading volume of 494,858 shares, compared to its average volume of 599,259. The stock has a market cap of $20.84 billion, a price-to-earnings ratio of 28.25, a price-to-earnings-growth ratio of 1.69 and a beta of 1.07. 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 firm has a 50 day moving average of $238.23 and a two-hundred day moving average of $231.42. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $258.59.
Laboratory Co. of America (NYSE:LH - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) 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%. Equities analysts predict that Laboratory Co. of America Holdings will post 16.01 EPS 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, March 12th. Shareholders of record on Thursday, February 27th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend is Thursday, February 27th. Laboratory Co. of America's payout ratio is 32.65%.
About Laboratory Co. of America
(
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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