Laboratory Co. of America Holdings (NYSE:LH) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lessened its holdings in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 6.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 42,472 shares of the medical research company's stock after selling 3,124 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.05% of Laboratory Co. of America worth $9,740,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of LH. Signature Estate & Investment Advisors LLC lifted its stake in shares of Laboratory Co. of America by 3.1% during the fourth quarter. Signature Estate & Investment Advisors LLC now owns 9,384 shares of the medical research company's stock worth $2,152,000 after buying an additional 281 shares during the period. TIAA Trust National Association lifted its position in Laboratory Co. of America by 2.0% during the 4th quarter. TIAA Trust National Association now owns 3,787 shares of the medical research company's stock worth $868,000 after acquiring an additional 75 shares during the period. Hershey Financial Advisers LLC acquired a new stake in Laboratory Co. of America during the 4th quarter worth about $1,682,000. LPL Financial LLC increased its holdings in shares of Laboratory Co. of America by 63.8% in the fourth quarter. LPL Financial LLC now owns 62,546 shares of the medical research company's stock valued at $14,343,000 after purchasing an additional 24,357 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Laboratory Co. of America in the fourth quarter worth about $6,860,000. Hedge funds and other institutional investors own 95.94% of the company's stock.

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Insiders Place Their Bets

In related news, EVP Amy B. Summy sold 758 shares of the business'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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Adam H. Schechter sold 6,121 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 86,445 shares of the company's stock, valued at approximately $21,146,175.90. The trade was a 6.61 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 15,258 shares of company stock worth $3,753,177. Corporate insiders own 0.85% of the company's stock.

Laboratory Co. of America Price Performance

Shares of Laboratory Co. of America stock traded up $3.95 on Wednesday, reaching $236.60. The company's stock had a trading volume of 351,363 shares, compared to its average volume of 622,476. 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 market capitalization of $19.80 billion, a P/E ratio of 26.83, a PEG ratio of 1.71 and a beta of 1.12. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67. The stock has a 50-day moving average price of $244.45 and a 200-day moving average price of $234.86.

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 earnings per share (EPS) for the quarter, beating the consensus estimate 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 expect 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 disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Thursday, February 27th were issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Thursday, February 27th. Laboratory Co. of America's payout ratio is 32.65%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. StockNews.com downgraded shares of Laboratory Co. of America from a "buy" rating to a "hold" rating in a report on Saturday. Piper Sandler increased their price objective 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. UBS Group decreased 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 research report on Tuesday, January 28th. Barclays cut their price target on Laboratory Co. of America from $271.00 to $260.00 and set an "equal weight" rating on the stock in a research report on Friday, February 7th. Finally, Evercore ISI raised Laboratory Co. of America from an "in-line" rating to an "outperform" rating and boosted their price objective for the company from $260.00 to $265.00 in a report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $270.38.

Laboratory Co. of America Company Profile

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.