Laboratory Co. of America Holdings (NYSE:LH) Shares Bought by Fisher Asset Management LLC

Fisher Asset Management LLC boosted its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 62.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,033 shares of the medical research company’s stock after buying an additional 784 shares during the period. Fisher Asset Management LLC’s holdings in Laboratory Co. of America were worth $466,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of LH. FMR LLC increased its stake in Laboratory Co. of America by 17.0% during the 3rd 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. increased its stake in Laboratory Co. of America by 9.5% during the 3rd 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 increased its stake in Laboratory Co. of America by 22.4% during the 3rd 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. Proficio Capital Partners LLC purchased a new stake in Laboratory Co. of America during the 4th quarter worth approximately $16,512,000. Finally, Nordea Investment Management AB increased its stake in Laboratory Co. of America by 7.0% during the 4th quarter. Nordea Investment Management AB now owns 1,052,927 shares of the medical research company’s stock worth $243,321,000 after buying an additional 68,974 shares in the last quarter. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on LH shares. UBS Group cut their price objective 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. Barclays dropped their price target on 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. Evercore ISI upgraded Laboratory Co. of America from an “in-line” rating to an “outperform” rating and upped their price target for the company from $260.00 to $265.00 in a research report on Tuesday, January 7th. Morgan Stanley upped their price target on Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, Piper Sandler upped their price target on Laboratory Co. of America from $240.00 to $260.00 and gave the company 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 issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $268.38.

Laboratory Co. of America Trading Down 0.1 %

Shares of Laboratory Co. of America stock opened at $253.92 on Friday. The firm has a market capitalization of $21.25 billion, a price-to-earnings ratio of 28.79, a PEG ratio of 1.71 and a beta of 1.07. 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 debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44. The stock has a 50 day moving average of $243.23 and a 200 day moving average of $233.48.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 earnings per share for the quarter, topping 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%. As a group, research analysts predict that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio (DPR) is 32.65%.

Insiders Place Their Bets

In other Laboratory Co. of America news, COO Mark S. Schroeder sold 5,339 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $249.23, for a total transaction of $1,330,638.97. Following the transaction, the chief operating officer now directly owns 4,960 shares in the company, valued at $1,236,180.80. This represents a 51.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Der Vaart Sandra D. Van sold 1,314 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $251.30, for a total value of $330,208.20. Following the transaction, the executive vice president now owns 2,171 shares in the company, valued at $545,572.30. This trade represents a 37.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,000 shares of company stock worth $3,449,757 over the last ninety days. Corporate insiders own 0.85% of the company’s stock.

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.