Laboratory Co. of America Holdings (NYSE:LH) Stake Raised by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 11.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,349 shares of the medical research company’s stock after buying an additional 13,661 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Laboratory Co. of America were worth $30,557,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in LH. Capital City Trust Co. FL increased its holdings in shares of Laboratory Co. of America by 1.5% during the fourth quarter. Capital City Trust Co. FL now owns 15,553 shares of the medical research company’s stock valued at $3,567,000 after purchasing an additional 223 shares during the period. Wealthcare Advisory Partners LLC increased its stake in Laboratory Co. of America by 23.9% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 2,543 shares of the medical research company’s stock valued at $583,000 after buying an additional 490 shares during the period. Bryn Mawr Capital Management LLC raised its position in shares of Laboratory Co. of America by 51.2% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 1,495 shares of the medical research company’s stock worth $343,000 after buying an additional 506 shares in the last quarter. Barclays PLC lifted its stake in shares of Laboratory Co. of America by 11.8% in the 3rd quarter. Barclays PLC now owns 620,721 shares of the medical research company’s stock worth $138,718,000 after acquiring an additional 65,356 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in shares of Laboratory Co. of America by 7.0% in the fourth quarter. Nordea Investment Management AB now owns 1,052,927 shares of the medical research company’s stock valued at $243,321,000 after acquiring an additional 68,974 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 1,314 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $251.30, for a total value of $330,208.20. Following the completion of the sale, the executive vice president now directly owns 2,171 shares of the company’s stock, valued at $545,572.30. The trade was a 37.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kerrii B. Anderson sold 1,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total transaction of $235,000.00. Following the transaction, the director now owns 12,722 shares in the company, valued at $2,989,670. This represents a 7.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,500 shares of company stock worth $3,577,572 over the last 90 days. 0.85% of the stock is currently owned by corporate insiders.

Laboratory Co. of America Stock Down 0.8 %

Shares of Laboratory Co. of America stock opened at $229.75 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $258.59. The stock has a 50-day moving average price of $244.80 and a 200 day moving average price of $234.58. The company has a market cap of $19.23 billion, a P/E ratio of 26.05, a P/E/G ratio of 1.71 and a beta of 1.12.

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

Laboratory Co. of America Dividend Announcement

The company also recently disclosed 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. The ex-dividend date was Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a yield of 1.25%. Laboratory Co. of America’s payout ratio is 32.65%.

Analysts Set New Price Targets

A number of research firms have weighed in on LH. Citigroup upgraded Laboratory Co. of America from a “neutral” rating to a “buy” rating and upped their target price for the stock from $250.00 to $300.00 in a research report on Tuesday, March 4th. Barclays cut their price objective on Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating for the company in a report on Friday, February 7th. Morgan Stanley boosted their price target 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. Bank of America raised their price objective on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, UBS Group dropped their target price on shares of Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.