Mutual of America Capital Management LLC Sells 322 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Mutual of America Capital Management LLC lessened its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 3.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,041 shares of the medical research company’s stock after selling 322 shares during the period. Mutual of America Capital Management LLC’s holdings in Laboratory Co. of America were worth $2,303,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of LH. State Street Corp raised its stake in Laboratory Co. of America by 0.7% during the third quarter. State Street Corp now owns 3,726,627 shares of the medical research company’s stock worth $832,827,000 after buying an additional 25,469 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its stake in shares of Laboratory Co. of America by 1.5% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,978,686 shares of the medical research company’s stock valued at $442,197,000 after purchasing an additional 29,046 shares during the period. Geode Capital Management LLC boosted its position in shares of Laboratory Co. of America by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,964,743 shares of the medical research company’s stock valued at $437,561,000 after purchasing an additional 13,298 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Laboratory Co. of America by 9.5% during the third 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. Finally, Allspring Global Investments Holdings LLC increased its holdings in Laboratory Co. of America by 2.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,916,505 shares of the medical research company’s stock worth $437,357,000 after purchasing an additional 51,045 shares in the last quarter. Institutional investors own 95.94% of the company’s stock.

Insider Activity

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 shares were sold at an average price of $244.62, for a total value of $1,497,319.02. Following the sale, the chief executive officer now owns 86,445 shares of the company’s stock, valued at approximately $21,146,175.90. The trade was a 6.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kerrii B. Anderson sold 500 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $255.63, for a total transaction of $127,815.00. Following the completion of the transaction, the director now owns 13,166 shares in the company, valued at approximately $3,365,624.58. The trade was a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,500 shares of company stock valued at $3,577,572 over the last three months. Corporate insiders own 0.85% of the company’s stock.

Laboratory Co. of America Trading Down 0.4 %

Shares of Laboratory Co. of America stock opened at $253.00 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. The stock has a fifty day simple moving average of $243.68 and a 200 day simple moving average of $233.67. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $258.59. The company has a market capitalization of $21.18 billion, a P/E ratio of 28.68, a price-to-earnings-growth ratio of 1.71 and a beta of 1.07.

Laboratory Co. of America (NYSE:LH) last announced its earnings results on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, beating 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%. On average, sell-side analysts anticipate that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th will be paid a $0.72 dividend. The ex-dividend date is Thursday, February 27th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.14%. Laboratory Co. of America’s payout ratio is presently 32.65%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on LH shares. Evercore ISI raised shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $260.00 to $265.00 in a research report on Tuesday, January 7th. Citigroup upgraded shares of Laboratory Co. of America from a “neutral” rating to a “buy” rating and raised their price target for the stock from $250.00 to $300.00 in a report on Tuesday. Bank of America upped 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 report on Friday, December 13th. Barclays cut their price objective 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 report on Friday, February 7th. Finally, Jefferies Financial Group boosted their target price on Laboratory Co. of America from $275.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Laboratory Co. of America has an average rating of “Moderate Buy” and a consensus price target of $268.38.

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.