Norinchukin Bank The Raises Stock Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Norinchukin Bank The raised its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 9.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,832 shares of the medical research company’s stock after acquiring an additional 333 shares during the quarter. Norinchukin Bank The’s holdings in Laboratory Co. of America were worth $879,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Geode Capital Management LLC grew its stake in Laboratory Co. of America by 2.0% in 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 in the last quarter. JPMorgan Chase & Co. increased its holdings 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 purchasing an additional 167,137 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Laboratory Co. of America by 2.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,916,505 shares of the medical research company’s stock worth $437,357,000 after buying an additional 51,045 shares during the period. Bank of New York Mellon Corp grew its position in shares of Laboratory Co. of America by 2.4% during the 4th 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 buying an additional 41,898 shares in the last quarter. Finally, FMR LLC raised its holdings in shares of Laboratory Co. of America by 2.2% in the fourth quarter. FMR LLC now owns 1,620,826 shares of the medical research company’s stock valued at $371,688,000 after acquiring an additional 34,429 shares in the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on LH shares. Jefferies Financial Group upped their price target on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. StockNews.com downgraded Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Friday. UBS Group dropped their price objective on 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. Citigroup upgraded shares of Laboratory Co. of America from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $250.00 to $300.00 in a report on Tuesday, March 4th. Finally, Evercore ISI upgraded shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and raised their price target for the company from $260.00 to $265.00 in a report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Laboratory Co. of America has an average rating of “Moderate Buy” and a consensus price target of $268.77.

Laboratory Co. of America Price Performance

Shares of LH opened at $212.43 on Tuesday. The firm has a fifty day moving average price of $236.97 and a 200 day moving average price of $234.96. The stock has a market cap of $17.77 billion, a PE ratio of 24.09, a price-to-earnings-growth ratio of 1.71 and a beta of 0.99. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $258.59. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.30.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, sell-side analysts anticipate that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Thursday, May 29th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.36%. Laboratory Co. of America’s dividend payout ratio (DPR) is 32.65%.

Insider Buying and Selling

In other news, EVP Der Vaart Sandra D. Van sold 1,314 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $251.30, for a total transaction of $330,208.20. Following the completion of the sale, the executive vice president now owns 2,171 shares in the company, valued at $545,572.30. This represents a 37.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Adam H. Schechter sold 6,121 shares of Laboratory Co. of America stock in a transaction on 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 completion of the transaction, 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 sold a total of 14,258 shares of company stock worth $3,518,177 in the last 90 days. Company insiders own 0.84% 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.