Prudential Financial Inc. reduced its stake in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 58.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,248 shares of the medical research company's stock after selling 63,562 shares during the period. Prudential Financial Inc. owned 0.05% of Laboratory Co. of America worth $10,376,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Private Trust Co. NA raised its position in shares of Laboratory Co. of America by 3.2% in the 3rd quarter. Private Trust Co. NA now owns 1,342 shares of the medical research company's stock worth $300,000 after acquiring an additional 41 shares in the last quarter. Empowered Funds LLC grew its stake in Laboratory Co. of America by 0.5% in the fourth quarter. Empowered Funds LLC now owns 8,025 shares of the medical research company's stock worth $1,840,000 after purchasing an additional 43 shares during the period. SP Asset Management LLC raised its holdings 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 worth $3,483,000 after purchasing an additional 43 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in Laboratory Co. of America by 0.4% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 12,780 shares of the medical research company's stock valued at $2,931,000 after buying an additional 45 shares during the period. Finally, 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 buying an additional 46 shares in the last quarter. 95.94% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on LH. Citigroup raised shares of Laboratory Co. of America from a "neutral" rating to a "buy" rating and lifted their price target for the company from $250.00 to $300.00 in a research report on Tuesday, March 4th. UBS Group lowered their target price on shares of Laboratory Co. of America from $293.00 to $286.00 and set a "buy" rating for the company in a report on Tuesday, January 28th. Jefferies Financial Group upped their price target on Laboratory Co. of America from $275.00 to $290.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Piper Sandler lifted their price objective 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. Finally, Redburn Atlantic assumed coverage on Laboratory Co. of America in a report on Wednesday. They issued a "buy" rating and a $276.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $270.38.
Get Our Latest Research Report on Laboratory Co. of America
Laboratory Co. of America Stock Performance
Laboratory Co. of America stock traded up $1.98 during midday trading on Wednesday, reaching $234.63. 81,281 shares of the company traded hands, compared to its average volume of 617,024. The firm has a market capitalization of $19.64 billion, a price-to-earnings ratio of 26.60, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30. The business has a 50 day moving average of $244.45 and a two-hundred day moving average of $234.86. 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 posted its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, beating 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%. As a group, research analysts predict that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.
Laboratory Co. of America Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th were issued a dividend of $0.72 per share. The ex-dividend date was Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a yield of 1.23%. Laboratory Co. of America's dividend payout ratio is currently 32.65%.
Insiders Place Their Bets
In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,121 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $244.62, for a total transaction of $1,497,319.02. Following the sale, the chief executive officer now owns 86,445 shares in the company, valued at approximately $21,146,175.90. This trade represents a 6.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Amy B. Summy sold 758 shares of the company's stock in a transaction that occurred on Friday, March 28th. The stock was 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 of the company's stock, valued at approximately $1,228,314.34. The trade was a 12.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,258 shares of company stock worth $3,753,177. Company insiders own 0.85% of the company's stock.
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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