Sumitomo Mitsui Trust Group Inc. lifted its position in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 190,322 shares of the medical research company's stock after purchasing an additional 1,779 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.23% of Laboratory Co. of America worth $43,645,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its stake in Laboratory Co. of America by 16.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,865,460 shares of the medical research company's stock worth $416,893,000 after buying an additional 263,105 shares in the last quarter. FMR LLC raised its stake in Laboratory Co. of America by 17.0% in the third quarter. FMR LLC now owns 1,586,397 shares of the medical research company's stock worth $354,528,000 after buying an additional 230,708 shares in the last quarter. JPMorgan Chase & Co. raised its stake 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 buying an additional 167,137 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Laboratory Co. of America by 22.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 577,189 shares of the medical research company's stock worth $128,990,000 after buying an additional 105,443 shares in the last quarter. Finally, River Road Asset Management LLC raised its stake in Laboratory Co. of America by 37.8% in the third quarter. River Road Asset Management LLC now owns 284,097 shares of the medical research company's stock worth $63,490,000 after buying an additional 77,921 shares in the last quarter. Hedge funds and other institutional investors own 95.94% of the company's stock.
Laboratory Co. of America Stock Performance
Shares of NYSE LH traded up $1.87 during mid-day trading on Friday, hitting $246.74. The stock had a trading volume of 565,887 shares, compared to its average volume of 607,910. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44. The company has a 50 day moving average of $237.13 and a two-hundred day moving average of $230.66. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $258.59. The firm has a market cap of $20.64 billion, a PE ratio of 27.98, a PEG ratio of 1.84 and a beta of 1.07.
Laboratory Co. of America (NYSE:LH - Get Free Report) last released its 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 return on equity of 15.29% and a net margin of 5.73%. Research analysts predict that Laboratory Co. of America Holdings will post 15.96 EPS for the current fiscal year.
Laboratory Co. of America Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend is Thursday, February 27th. Laboratory Co. of America's payout ratio is 32.65%.
Insider Buying and Selling at Laboratory Co. of America
In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 1,000 shares of the company's stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total value of $235,000.00. Following the sale, the director now directly owns 12,722 shares of the company's stock, valued at approximately $2,989,670. This represents a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Amy B. Summy sold 3,672 shares of the company's stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $238.91, for a total transaction of $877,277.52. Following the completion of the sale, the chief marketing officer now directly owns 4,318 shares in the company, valued at approximately $1,031,613.38. The trade was a 45.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,504 shares of company stock valued at $5,905,692. 0.85% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on the stock. StockNews.com raised shares of Laboratory Co. of America from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Jefferies Financial Group boosted their price objective on shares of 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. UBS Group reduced 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 research note on Tuesday, January 28th. Bank of America upped their price target on Laboratory Co. of America from $262.00 to $271.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Finally, Hsbc Global Res raised Laboratory Co. of America from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $265.31.
Check Out Our Latest Stock Analysis on LH
Laboratory Co. of America Company 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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