JPMorgan Chase & Co. lessened its holdings in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 30.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,344,378 shares of the medical research company's stock after selling 586,017 shares during the period. JPMorgan Chase & Co. owned about 1.61% of Laboratory Co. of America worth $308,293,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Empowered Funds LLC boosted its holdings in shares of Laboratory Co. of America by 0.5% in the 4th quarter. Empowered Funds LLC now owns 8,025 shares of the medical research company's stock valued at $1,840,000 after buying an additional 43 shares in the last quarter. SP Asset Management LLC boosted its stake in Laboratory Co. of America by 0.3% in the fourth quarter. SP Asset Management LLC now owns 15,186 shares of the medical research company's stock valued at $3,483,000 after acquiring an additional 43 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in Laboratory Co. of America by 0.4% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 12,780 shares of the medical research company's stock worth $2,931,000 after purchasing an additional 45 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Laboratory Co. of America by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,194 shares of the medical research company's stock worth $1,650,000 after purchasing an additional 46 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Laboratory Co. of America by 16.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 354 shares of the medical research company's stock valued at $81,000 after purchasing an additional 50 shares during the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
LH has been the subject of several recent analyst reports. Citigroup raised Laboratory Co. of America from a "neutral" rating to a "buy" rating and raised their price target for the stock from $250.00 to $300.00 in a report on Tuesday, March 4th. Piper Sandler lifted 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. StockNews.com lowered shares of Laboratory Co. of America from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Evercore ISI upgraded shares of Laboratory Co. of America from an "in-line" rating to an "outperform" rating and lifted their price objective for the stock from $260.00 to $265.00 in a research note on Tuesday, January 7th. Finally, Morgan Stanley upped their target price on Laboratory Co. of America from $260.00 to $270.00 and gave the company an "overweight" rating in a research report on Tuesday, December 17th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Laboratory Co. of America presently has a consensus rating of "Moderate Buy" and a consensus target price of $270.38.
View Our Latest Stock Analysis on Laboratory Co. of America
Insiders Place Their Bets
In related news, EVP Amy B. Summy sold 758 shares of the company's stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $231.67, for a total transaction of $175,605.86. Following the completion of the transaction, the executive vice president now owns 5,302 shares in the company, valued at $1,228,314.34. This represents a 12.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kerrii B. Anderson sold 1,000 shares of the firm's 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 completion of the transaction, the director now directly owns 12,722 shares in the company, valued at $2,989,670. This represents a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,258 shares of company stock worth $3,753,177. 0.85% of the stock is owned by corporate insiders.
Laboratory Co. of America Stock Performance
Laboratory Co. of America stock traded down $0.65 during mid-day trading on Thursday, hitting $235.72. The company had a trading volume of 499,273 shares, compared to its average volume of 625,593. The company has a market capitalization of $19.73 billion, a price-to-earnings ratio of 26.73, a P/E/G ratio of 1.71 and a beta of 1.12. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $258.59. The company's fifty day moving average is $244.33 and its 200-day moving average is $234.88. 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 (NYSE:LH - Get Free Report) last announced its quarterly earnings results 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 net margin of 5.73% and a return on equity of 15.29%. Equities research analysts predict that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.
Laboratory Co. of America Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Thursday, February 27th were issued a $0.72 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a yield of 1.22%. Laboratory Co. of America's payout ratio is 32.65%.
Laboratory Co. of America Company Profile
(
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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