Prudential PLC Acquires 2,249 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Prudential PLC increased its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 29.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,011 shares of the medical research company's stock after acquiring an additional 2,249 shares during the period. Prudential PLC's holdings in Laboratory Co. of America were worth $2,296,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. State Street Corp grew its holdings in shares of 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 purchasing an additional 25,469 shares during the last quarter. Geode Capital Management LLC grew its position in Laboratory Co. of America by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 2,003,998 shares of the medical research company's stock worth $458,334,000 after acquiring an additional 39,255 shares during the last quarter. JPMorgan Chase & Co. raised its position in Laboratory Co. of America by 9.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company's stock valued at $431,405,000 after purchasing an additional 167,137 shares during the last quarter. Allspring Global Investments Holdings LLC boosted 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 worth $437,357,000 after purchasing an additional 51,045 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of 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 worth $418,042,000 after purchasing an additional 41,898 shares during the last quarter. Institutional investors own 95.94% of the company's stock.

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Laboratory Co. of America Trading Down 0.8 %

NYSE LH traded down $1.68 during trading on Friday, reaching $216.93. 380,149 shares of the stock traded hands, compared to its average volume of 636,634. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $258.59. 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 firm has a market cap of $18.16 billion, a price-to-earnings ratio of 24.59, a price-to-earnings-growth ratio of 1.71 and a beta of 0.99. The stock's 50-day moving average price is $240.55 and its 200 day moving average price is $234.79.

Laboratory Co. of America (NYSE:LH - Get Free Report) last announced its quarterly earnings results 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 predict that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Thursday, May 29th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.33%. Laboratory Co. of America's dividend payout ratio is currently 32.65%.

Insider Activity

In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 1,314 shares of Laboratory Co. of America stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $251.30, for a total value of $330,208.20. Following the sale, the executive vice president now owns 2,171 shares of the company's stock, valued at $545,572.30. This trade represents a 37.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CMO Amy B. Summy sold 226 shares of the company's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $250.40, for a total value of $56,590.40. Following the transaction, the chief marketing officer now directly owns 4,544 shares of the company's stock, valued at $1,137,817.60. This represents a 4.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,258 shares of company stock worth $3,518,177 in the last 90 days. Corporate insiders own 0.85% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on LH. UBS Group reduced their price target on shares of Laboratory Co. of America from $293.00 to $286.00 and set a "buy" rating on the stock in a research report on Tuesday, January 28th. StockNews.com raised shares of Laboratory Co. of America from a "hold" rating to a "buy" rating in a research note on Sunday, April 6th. Morgan Stanley boosted their price objective 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. Truist Financial decreased their price objective on Laboratory Co. of America from $285.00 to $274.00 and set a "buy" rating on the stock in a research report on Friday. Finally, Piper Sandler boosted their target price on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Laboratory Co. of America currently has an average rating of "Moderate Buy" and an average price target of $268.77.

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.