Fmr LLC Buys 34,429 Shares of Laboratory Co. of America Holdings (NYSE:LH)

FMR LLC grew its position in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 2.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,620,826 shares of the medical research company's stock after acquiring an additional 34,429 shares during the period. FMR LLC owned about 1.94% of Laboratory Co. of America worth $371,688,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Quantinno Capital Management LP grew its holdings in shares of Laboratory Co. of America by 6.9% during the third quarter. Quantinno Capital Management LP now owns 3,194 shares of the medical research company's stock worth $714,000 after buying an additional 206 shares in the last quarter. EP Wealth Advisors LLC raised its stake in shares of Laboratory Co. of America by 15.8% in the 3rd quarter. EP Wealth Advisors LLC now owns 1,420 shares of the medical research company's stock valued at $317,000 after purchasing an additional 194 shares in the last quarter. National Bank of Canada FI boosted its holdings in shares of Laboratory Co. of America by 1.3% in the 3rd quarter. National Bank of Canada FI now owns 9,757 shares of the medical research company's stock valued at $2,180,000 after buying an additional 121 shares during the period. MML Investors Services LLC increased its position in Laboratory Co. of America by 0.4% in the third quarter. MML Investors Services LLC now owns 19,179 shares of the medical research company's stock worth $4,286,000 after buying an additional 82 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new position in Laboratory Co. of America during the 3rd quarter worth $1,053,000. 95.94% of the stock is owned by hedge funds and other institutional investors.

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Insider Transactions at Laboratory Co. of America

In related news, CMO Amy B. Summy sold 226 shares of the firm's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $250.40, for a total value of $56,590.40. Following the completion of the sale, the chief marketing officer now directly owns 4,544 shares in the company, valued at approximately $1,137,817.60. This trade represents a 4.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Mark S. Schroeder sold 5,339 shares of Laboratory Co. of America stock in a transaction that occurred on Friday, February 28th. The stock was 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 of the company's stock, valued at $1,236,180.80. This represents 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 in the last 90 days. Corporate insiders own 0.85% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on LH shares. UBS Group lowered their price objective on shares of Laboratory Co. of America from $293.00 to $286.00 and set a "buy" rating on the stock in a research note on Tuesday, January 28th. Piper Sandler raised their price objective on 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. StockNews.com raised Laboratory Co. of America from a "hold" rating to a "buy" rating in a research report on Sunday, April 6th. Evercore ISI raised shares of Laboratory Co. of America from an "in-line" rating to an "outperform" rating and boosted their target price for the company from $260.00 to $265.00 in a research note on Tuesday, January 7th. Finally, Barclays decreased their target price on Laboratory Co. of America from $260.00 to $240.00 and set an "equal weight" rating for the company in a research report on Thursday, April 10th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $268.77.

Laboratory Co. of America Trading Down 1.2 %

Shares of LH traded down $2.70 during trading hours on Tuesday, reaching $225.34. The stock had a trading volume of 254,600 shares, compared to its average volume of 637,581. Laboratory Co. of America Holdings has a 52 week low of $191.97 and a 52 week high of $258.59. The firm has a 50-day moving average of $239.60 and a 200 day moving average of $234.95. The company has a market cap of $18.85 billion, a P/E ratio of 25.55, a P/E/G ratio of 1.71 and a beta of 0.99. 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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, sell-side analysts expect that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Thursday, May 29th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.28%. Laboratory Co. of America's dividend payout ratio (DPR) is 32.65%.

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.