LPL Financial LLC grew its position in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 63.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,546 shares of the medical research company's stock after purchasing an additional 24,357 shares during the period. LPL Financial LLC owned approximately 0.07% of Laboratory Co. of America worth $14,343,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp grew its stake in Laboratory Co. of America by 0.7% in the 3rd quarter. State Street Corp now owns 3,726,627 shares of the medical research company's stock worth $832,827,000 after buying an additional 25,469 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Laboratory Co. of America by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,964,743 shares of the medical research company's stock worth $437,561,000 after acquiring an additional 13,298 shares during the last quarter. JPMorgan Chase & Co. grew its position in Laboratory Co. of America by 9.5% in the third quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company's stock worth $431,405,000 after acquiring an additional 167,137 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Laboratory Co. of America by 2.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,916,505 shares of the medical research company's stock valued at $437,357,000 after acquiring an additional 51,045 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Laboratory Co. of America by 2.4% during the fourth quarter. Bank of New York Mellon Corp now owns 1,822,964 shares of the medical research company's stock valued at $418,042,000 after purchasing an additional 41,898 shares in the last quarter. Hedge funds and other institutional investors own 95.94% of the company's stock.
Insider Buying and Selling
In related news, Director Kerrii B. Anderson sold 500 shares of the stock in a transaction dated 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 transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Amy B. Summy sold 758 shares of Laboratory Co. of America 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 transaction, the executive vice president now directly owns 5,302 shares of the company's stock, valued at approximately $1,228,314.34. This trade represents a 12.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,258 shares of company stock valued at $3,753,177 over the last three months. Corporate insiders own 0.85% of the company's stock.
Analyst Ratings Changes
Several equities analysts have recently commented on the company. Piper Sandler increased their price objective on 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. StockNews.com upgraded shares of Laboratory Co. of America from a "hold" rating to a "buy" rating in a research report on Sunday. UBS Group lowered their price objective 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 objective on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Finally, Barclays lowered their price target on shares of Laboratory Co. of America from $271.00 to $260.00 and set an "equal weight" rating for the company in a research note on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average 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 Trading Down 4.7 %
LH traded down $10.97 during midday trading on Friday, reaching $222.49. 1,424,173 shares of the company's stock traded hands, compared to its average volume of 629,067. 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 debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30. The firm has a fifty day moving average of $243.63 and a two-hundred day moving average of $234.95. The stock has a market capitalization of $18.62 billion, a price-to-earnings ratio of 25.23, a P/E/G 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 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%. On average, equities 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 business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Thursday, February 27th were given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.29%. The ex-dividend date was Thursday, February 27th. Laboratory Co. of America's dividend payout ratio is currently 32.65%.
Laboratory Co. of America 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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