Mitsubishi UFJ Asset Management Co. Ltd. Acquires 13,661 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 11.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 133,349 shares of the medical research company's stock after purchasing an additional 13,661 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.16% of Laboratory Co. of America worth $30,557,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Graney & King LLC acquired a new position in Laboratory Co. of America during the 4th quarter worth $26,000. Fortitude Family Office LLC lifted its stake in shares of Laboratory Co. of America by 312.5% during the fourth quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company's stock valued at $30,000 after acquiring an additional 100 shares during the period. Geneos Wealth Management Inc. boosted its holdings in 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 acquiring an additional 127 shares during the last quarter. Human Investing LLC acquired a new stake in Laboratory Co. of America in the fourth quarter worth about $39,000. Finally, True Wealth Design LLC raised its holdings in Laboratory Co. of America by 3,660.0% during the 3rd quarter. True Wealth Design LLC now owns 188 shares of the medical research company's stock worth $42,000 after purchasing an additional 183 shares during the last quarter. Institutional investors and hedge funds own 95.94% of the company's stock.

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Analyst Upgrades and Downgrades

LH has been the subject of several analyst reports. Morgan Stanley lifted their price target on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. Piper Sandler upped their target price on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the company a "neutral" rating in a research report on Monday, February 10th. Citigroup upgraded 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 research report on Tuesday, March 4th. Evercore ISI upgraded Laboratory Co. of America from an "in-line" rating to an "outperform" rating and upped their price objective for the company from $260.00 to $265.00 in a report on Tuesday, January 7th. Finally, Bank of America raised their target price 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. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $270.38.

Laboratory Co. of America Stock Up 1.9 %

Shares of LH stock traded up $4.32 during trading hours on Wednesday, hitting $236.97. 417,969 shares of the company were exchanged, compared to its average volume of 622,939. Laboratory Co. of America Holdings has a 52 week low of $191.97 and a 52 week high of $258.59. 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 business has a 50 day moving average of $244.45 and a two-hundred day moving average of $234.86. The company has a market capitalization of $19.83 billion, a PE ratio of 26.87, a PEG ratio of 1.71 and a beta of 1.12.

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 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%. Analysts anticipate 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 company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Thursday, February 27th were given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend was Thursday, February 27th. Laboratory Co. of America's dividend payout ratio is presently 32.65%.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, 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 value of $175,605.86. Following the sale, the executive vice president now directly owns 5,302 shares in the company, valued at approximately $1,228,314.34. The trade was a 12.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kerrii B. Anderson sold 1,000 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $235.00, for a total transaction of $235,000.00. Following the transaction, the director now owns 12,722 shares of the company's stock, valued at approximately $2,989,670. This represents a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,258 shares of company stock worth $3,753,177. Corporate insiders own 0.85% of the company's stock.

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.