Pictet Asset Management Holding SA Acquires 4,988 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Pictet Asset Management Holding SA grew its stake in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 11.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 48,942 shares of the medical research company's stock after buying an additional 4,988 shares during the quarter. Pictet Asset Management Holding SA owned 0.06% of Laboratory Co. of America worth $11,223,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Graney & King LLC bought a new position in Laboratory Co. of America during the fourth quarter valued at approximately $26,000. Fortitude Family Office LLC grew its holdings in shares of Laboratory Co. of America by 312.5% during the 4th quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company's stock valued at $30,000 after purchasing an additional 100 shares during the last quarter. Geneos Wealth Management Inc. raised its position in Laboratory Co. of America by 309.8% in the 4th quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company's stock worth $39,000 after purchasing an additional 127 shares during the period. Human Investing LLC bought a new stake in Laboratory Co. of America in the fourth quarter worth $39,000. Finally, Heck Capital Advisors LLC bought a new stake in Laboratory Co. of America in the fourth quarter worth $44,000. 95.94% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LH has been the subject of a number of recent research reports. UBS Group lowered their target price on Laboratory Co. of America from $293.00 to $286.00 and set a "buy" rating for the company in a research note on Tuesday, January 28th. Piper Sandler raised their target price on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. StockNews.com raised shares of Laboratory Co. of America from a "hold" rating to a "buy" rating in a research note on Sunday. Barclays dropped 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 report on Friday, February 7th. Finally, Citigroup upgraded shares of Laboratory Co. of America from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $250.00 to $300.00 in a research report on Tuesday, March 4th. Three investment 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's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $270.38.

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Laboratory Co. of America Stock Down 0.7 %

Shares of LH traded down $1.53 on Monday, reaching $223.47. The stock had a trading volume of 1,037,939 shares, compared to its average volume of 630,696. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $258.59. The firm has a market capitalization of $18.70 billion, a price-to-earnings ratio of 25.34, a price-to-earnings-growth ratio of 1.71 and a beta of 0.99. The company has a 50-day simple moving average of $243.10 and a 200-day simple moving average of $234.95.

Laboratory Co. of America (NYSE:LH - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 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%. Sell-side analysts predict that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th were paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend was Thursday, February 27th. Laboratory Co. of America's dividend payout ratio is 32.65%.

Insider Activity

In other news, CEO Adam H. Schechter sold 6,121 shares of the 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 $21,146,175.90. This represents a 6.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kerrii B. Anderson sold 500 shares of Laboratory Co. of America stock in a transaction dated Wednesday, March 5th. The stock was 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 owns 13,166 shares of the company's stock, valued at $3,365,624.58. The trade was a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,258 shares of company stock worth $3,753,177. Insiders own 0.85% of the company's stock.

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.