Asset Management One Co. Ltd. Purchases 1,205 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Asset Management One Co. Ltd. increased its position in Laboratory Co. of America Holdings (NYSE:LH) by 3.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,799 shares of the medical research company’s stock after purchasing an additional 1,205 shares during the period. Asset Management One Co. Ltd.’s holdings in Laboratory Co. of America were worth $7,558,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. SouthState Corp bought a new position in shares of Laboratory Co. of America in the 3rd quarter worth $28,000. Horizon Bancorp Inc. IN bought a new position in shares of Laboratory Co. of America in the 3rd quarter worth $29,000. Fortitude Family Office LLC lifted its holdings in shares of Laboratory Co. of America by 312.5% in the 4th quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company’s stock worth $30,000 after purchasing an additional 100 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Laboratory Co. of America by 309.8% in the 4th quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock worth $39,000 after purchasing an additional 127 shares in the last quarter. Finally, Concord Wealth Partners lifted its stake in Laboratory Co. of America by 43.3% during the 3rd quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock valued at $38,000 after acquiring an additional 52 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Piper Sandler raised their price objective on Laboratory Co. of America from $240.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. 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 note on Tuesday, January 28th. StockNews.com upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Hsbc Global Res upgraded Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group raised their price objective 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. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $265.31.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,121 shares of Laboratory Co. of America stock in a transaction dated Tuesday, February 11th. The stock was 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 of the company’s stock, valued at $21,146,175.90. The trade was a 6.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Der Vaart Sandra D. Van sold 1,000 shares of Laboratory Co. of America stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $239.42, for a total value of $239,420.00. Following the sale, the executive vice president now owns 2,670 shares of the company’s stock, valued at approximately $639,251.40. This trade represents a 27.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,504 shares of company stock valued at $5,905,692 in the last quarter. 0.85% of the stock is currently owned by corporate insiders.

Laboratory Co. of America Trading Up 0.8 %

Shares of LH opened at $246.74 on Tuesday. The business has a 50-day moving average of $237.42 and a 200 day moving average of $231.14. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $258.59. The firm has a market cap of $20.64 billion, a P/E ratio of 27.98, a price-to-earnings-growth ratio of 1.84 and a beta of 1.07. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44.

Laboratory Co. of America (NYSE:LH) last announced 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 forecast that Laboratory Co. of America Holdings will post 15.96 EPS for the current year.

Laboratory Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis 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 presently 32.65%.

About Laboratory Co. of America

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