Franklin Resources Inc. increased its position in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 7.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,452 shares of the medical research company's stock after acquiring an additional 1,615 shares during the period. Franklin Resources Inc.'s holdings in Laboratory Co. of America were worth $5,149,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. AG raised its stake in Laboratory Co. of America by 18.2% during the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 4,416 shares of the medical research company's stock worth $1,013,000 after acquiring an additional 681 shares in the last quarter. Boston Research & Management Inc. grew its holdings in shares of Laboratory Co. of America by 0.5% during the 4th quarter. Boston Research & Management Inc. now owns 25,337 shares of the medical research company's stock valued at $5,810,000 after purchasing an additional 128 shares during the last quarter. Cannell & Spears LLC increased its position in Laboratory Co. of America by 18.9% during the 4th quarter. Cannell & Spears LLC now owns 202,555 shares of the medical research company's stock worth $46,450,000 after purchasing an additional 32,259 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Laboratory Co. of America by 59.4% in the 4th quarter. Alliancebernstein L.P. now owns 1,021,104 shares of the medical research company's stock valued at $234,160,000 after purchasing an additional 380,624 shares during the last quarter. Finally, St. James Investment Company LLC boosted its position in Laboratory Co. of America by 17.8% in the fourth quarter. St. James Investment Company LLC now owns 2,056 shares of the medical research company's stock valued at $471,000 after buying an additional 310 shares in the last quarter. 95.94% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on the company. Piper Sandler increased their price target on Laboratory Co. of America from $240.00 to $260.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Barclays dropped 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. Redburn Atlantic started coverage on Laboratory Co. of America in a report on Wednesday, April 2nd. They set a "buy" rating and a $276.00 price target on the stock. Citigroup upgraded shares of Laboratory Co. of America from a "neutral" rating to a "buy" rating and raised their price objective for the company from $250.00 to $300.00 in a report on Tuesday, March 4th. Finally, StockNews.com upgraded shares of Laboratory Co. of America from a "hold" rating to a "buy" rating in a research report on Sunday, April 6th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Laboratory Co. of America has a consensus rating of "Moderate Buy" and an average price target of $268.77.
View Our Latest Analysis on Laboratory Co. of America
Insider Activity
In related news, CEO Adam H. Schechter sold 6,121 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $244.62, for a total value of $1,497,319.02. Following the transaction, the chief executive officer now directly owns 86,445 shares in the company, valued at $21,146,175.90. This trade represents a 6.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CMO Amy B. Summy sold 226 shares of the company's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $250.40, for a total transaction of $56,590.40. Following the transaction, the chief marketing officer now owns 4,544 shares in the company, valued at approximately $1,137,817.60. The trade was a 4.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,258 shares of company stock worth $3,518,177 in the last three months. Company insiders own 0.85% of the company's stock.
Laboratory Co. of America Trading Down 1.2 %
NYSE LH traded down $2.76 during trading hours on Tuesday, hitting $225.28. 233,718 shares of the company's stock were exchanged, compared to its average volume of 637,456. The firm has a market cap of $18.85 billion, a price-to-earnings ratio of 25.54, a PEG ratio of 1.71 and a beta of 0.99. The stock has a 50-day simple moving average of $239.60 and a 200 day simple moving average of $234.95. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67. 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 EPS for the quarter, topping the consensus estimate 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, equities analysts forecast that Laboratory Co. of America Holdings will post 16.01 EPS for the current fiscal year.
Laboratory Co. of America Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Thursday, May 29th will be issued 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 is currently 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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