Geode Capital Management LLC lifted its stake in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,003,998 shares of the medical research company's stock after purchasing an additional 39,255 shares during the quarter. Geode Capital Management LLC owned 2.40% of Laboratory Co. of America worth $458,334,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Empowered Funds LLC lifted its position in 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 acquiring an additional 43 shares in the last quarter. SP Asset Management LLC increased its holdings in Laboratory Co. of America by 0.3% in the 4th quarter. SP Asset Management LLC now owns 15,186 shares of the medical research company's stock worth $3,483,000 after buying an additional 43 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its stake in Laboratory Co. of America by 0.4% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 12,780 shares of the medical research company's stock valued at $2,931,000 after acquiring an additional 45 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in shares of Laboratory Co. of America by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 7,194 shares of the medical research company's stock valued at $1,650,000 after acquiring an additional 46 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of Laboratory Co. of America by 16.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 354 shares of the medical research company's stock worth $81,000 after acquiring an additional 50 shares during the period. Institutional investors own 95.94% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on LH. Barclays dropped their target price on shares of Laboratory Co. of America from $260.00 to $240.00 and set an "equal weight" rating on the stock in a report on Thursday. Bank of America lifted their price objective on Laboratory Co. of America from $262.00 to $271.00 and gave the stock a "buy" rating in a report on Friday, December 13th. UBS Group lowered their target price on Laboratory Co. of America from $293.00 to $286.00 and set a "buy" rating on the stock in a report on Tuesday, January 28th. Morgan Stanley upped their price target on shares of 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. Finally, Redburn Atlantic initiated coverage on shares of Laboratory Co. of America in a research report on Wednesday, April 2nd. They set a "buy" rating and a $276.00 target price for the company. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $268.85.
Read Our Latest Research Report on Laboratory Co. of America
Insider Buying and Selling at Laboratory Co. of America
In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 500 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $255.63, for a total value of $127,815.00. Following the completion of the sale, the director now directly owns 13,166 shares in the company, valued at $3,365,624.58. This trade represents a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Der Vaart Sandra D. Van sold 1,314 shares of the company's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $251.30, for a total value of $330,208.20. Following the transaction, the executive vice president now directly owns 2,171 shares in the company, valued at approximately $545,572.30. The trade was a 37.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,258 shares of company stock valued at $3,518,177. Company insiders own 0.85% of the company's stock.
Laboratory Co. of America Trading Down 4.1 %
NYSE:LH traded down $9.44 during midday trading on Thursday, hitting $221.04. 312,255 shares of the company traded hands, compared to its average volume of 658,352. 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's fifty day moving average is $241.12 and its 200-day moving average is $234.80. The firm has a market capitalization of $18.50 billion, a P/E ratio of 25.08, a P/E/G ratio of 1.71 and a beta of 0.99. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $258.59.
Laboratory Co. of America (NYSE:LH - Get Free Report) last announced its earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) for the quarter, beating 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%. On average, sell-side analysts predict that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.
Laboratory Co. of America Announces Dividend
The company also recently announced 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 dividend on an annualized basis and a yield of 1.30%. Laboratory Co. of America's dividend payout ratio (DPR) is presently 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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