DnB Asset Management AS Has $8.37 Million Holdings in Laboratory Co. of America Holdings (NYSE:LH)

DnB Asset Management AS boosted its stake in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 6.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,513 shares of the medical research company's stock after purchasing an additional 2,113 shares during the quarter. DnB Asset Management AS's holdings in Laboratory Co. of America were worth $8,373,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in LH. Graney & King LLC bought a new position in shares of Laboratory Co. of America during the fourth quarter worth about $26,000. Fortitude Family Office LLC grew its position in Laboratory Co. of America by 312.5% in the 4th 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 during the last quarter. Geneos Wealth Management Inc. increased 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 bought a new stake in shares of Laboratory Co. of America during the fourth quarter valued at approximately $39,000. Finally, True Wealth Design LLC raised its holdings in shares of Laboratory Co. of America by 3,660.0% during the third quarter. True Wealth Design LLC now owns 188 shares of the medical research company's stock valued at $42,000 after buying an additional 183 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

Several research firms recently commented on LH. Bank of America raised their target price on Laboratory Co. of America from $262.00 to $271.00 and gave the company a "buy" rating in a research report on Friday, December 13th. StockNews.com downgraded shares of Laboratory Co. of America from a "buy" rating to a "hold" rating in a report on Saturday. Redburn Atlantic started coverage on shares of Laboratory Co. of America in a research note on Wednesday. They set a "buy" rating and a $276.00 target price on the stock. Evercore ISI upgraded shares of Laboratory Co. of America from an "in-line" rating to an "outperform" rating and boosted their price target for the stock from $260.00 to $265.00 in a research report on Tuesday, January 7th. Finally, Jefferies Financial Group increased their price objective on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $270.38.

Insider Activity

In other Laboratory Co. of America news, COO Mark S. Schroeder sold 5,339 shares of the company'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 transaction, the chief operating officer now owns 4,960 shares in the company, valued at approximately $1,236,180.80. This represents a 51.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Amy B. Summy sold 758 shares of Laboratory Co. of America stock in a transaction on Friday, March 28th. The shares were sold at an average price of $231.67, for a total transaction of $175,605.86. Following the sale, the executive vice president now directly owns 5,302 shares of the company's stock, valued at $1,228,314.34. This trade represents a 12.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,258 shares of company stock worth $3,753,177 over the last quarter. Corporate insiders own 0.85% of the company's stock.

Laboratory Co. of America Trading Up 1.8 %

Shares of NYSE LH traded up $4.09 during mid-day trading on Wednesday, hitting $236.74. 597,469 shares of the company traded hands, compared to its average volume of 622,683. The business has a 50 day moving average of $244.45 and a two-hundred day moving average of $234.86. The stock has a market capitalization of $19.82 billion, a price-to-earnings ratio of 26.84, a PEG 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 quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67.

Laboratory Co. of America (NYSE:LH - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 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%. On average, sell-side analysts anticipate 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 company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th were paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.22%. The ex-dividend date was Thursday, February 27th. Laboratory Co. of America's dividend payout ratio (DPR) is currently 32.65%.

About Laboratory Co. of America

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