Vanguard Group Inc. Buys 14,027 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Vanguard Group Inc. lifted its stake in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 0.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,651,044 shares of the medical research company's stock after purchasing an additional 14,027 shares during the quarter. Vanguard Group Inc. owned 11.54% of Laboratory Co. of America worth $2,213,177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. LPL Financial LLC boosted its stake in shares of Laboratory Co. of America by 63.8% during the 4th quarter. LPL Financial LLC now owns 62,546 shares of the medical research company's stock valued at $14,343,000 after buying an additional 24,357 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of Laboratory Co. of America during the fourth quarter worth $6,860,000. Sei Investments Co. boosted its position in Laboratory Co. of America by 12.4% during the fourth quarter. Sei Investments Co. now owns 223,162 shares of the medical research company's stock valued at $51,176,000 after purchasing an additional 24,616 shares during the last quarter. American Century Companies Inc. grew its stake in Laboratory Co. of America by 11.5% in the fourth quarter. American Century Companies Inc. now owns 921,184 shares of the medical research company's stock valued at $211,246,000 after purchasing an additional 95,162 shares in the last quarter. Finally, Mizuho Securities USA LLC increased its position in Laboratory Co. of America by 45.6% in the 4th quarter. Mizuho Securities USA LLC now owns 7,927 shares of the medical research company's stock worth $1,818,000 after purchasing an additional 2,482 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity at Laboratory Co. of America

In other news, Director Kerrii B. Anderson sold 1,000 shares of the 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 completion of the transaction, the director now owns 12,722 shares in the company, valued at approximately $2,989,670. This represents a 7.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Adam H. Schechter sold 6,121 shares of Laboratory Co. of America 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 sale, the chief executive officer now owns 86,445 shares in the company, valued at approximately $21,146,175.90. This trade represents a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,258 shares of company stock worth $3,753,177 over the last three months. Company insiders own 0.85% of the company's stock.

Laboratory Co. of America Stock Performance

Shares of LH stock traded up $2.78 during trading hours on Monday, reaching $232.80. 1,081,467 shares of the company's stock were exchanged, compared to its average volume of 622,648. 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 stock has a market capitalization of $19.49 billion, a P/E ratio of 26.39, a P/E/G ratio of 1.71 and a beta of 1.12. The business has a fifty day moving average price of $244.68 and a 200-day moving average price of $234.78.

Laboratory Co. of America (NYSE:LH - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share for the quarter, beating analysts' consensus estimates 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 fiscal year.

Laboratory Co. of America Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend was Thursday, February 27th. Laboratory Co. of America's dividend payout ratio (DPR) is presently 32.65%.

Analysts Set New Price Targets

Several brokerages recently commented on LH. Jefferies Financial Group boosted their price target on 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. Barclays dropped their price target on shares of Laboratory Co. of America from $271.00 to $260.00 and set an "equal weight" rating on the stock in a research note on Friday, February 7th. StockNews.com lowered shares of Laboratory Co. of America from a "buy" rating to a "hold" rating in a research note on Saturday. Piper Sandler increased 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 research report on Monday, February 10th. Finally, Morgan Stanley raised their target price on Laboratory Co. of America from $260.00 to $270.00 and gave the company an "overweight" rating in a report on Tuesday, December 17th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Laboratory Co. of America has a consensus rating of "Moderate Buy" and a consensus price target of $269.92.

Laboratory Co. of America Profile

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