Assenagon Asset Management S.A. Buys 122 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Assenagon Asset Management S.A. boosted its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 3.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,943 shares of the medical research company’s stock after acquiring an additional 122 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Laboratory Co. of America were worth $904,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of LH. SouthState Corp bought a new stake in shares of Laboratory Co. of America in the third quarter worth about $28,000. Horizon Bancorp Inc. IN purchased a new stake in Laboratory Co. of America in the 3rd quarter worth approximately $29,000. Fortitude Family Office LLC lifted its holdings in 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 buying an additional 100 shares during the period. Riverview Trust Co grew its position in shares of Laboratory Co. of America by 172.6% in the 3rd quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock worth $38,000 after buying an additional 107 shares during the last quarter. Finally, Concord Wealth Partners increased its stake in shares of Laboratory Co. of America by 43.3% during the third quarter. Concord Wealth Partners now owns 172 shares of the medical research company’s stock valued at $38,000 after buying an additional 52 shares during the period. 95.94% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Adam H. Schechter sold 6,189 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $243.47, for a total transaction of $1,506,835.83. Following the completion of the transaction, the chief executive officer now directly owns 87,441 shares of the company’s stock, valued at approximately $21,289,260.27. This trade represents a 6.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Der Vaart Sandra D. Van sold 1,000 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $239.42, for a total transaction of $239,420.00. Following the completion of the sale, the executive vice president now owns 2,670 shares in the company, valued at approximately $639,251.40. The trade was a 27.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,572 shares of company stock worth $5,915,209 over the last ninety days. Corporate insiders own 0.85% of the company’s stock.

Laboratory Co. of America Price Performance

Shares of Laboratory Co. of America stock opened at $246.29 on Friday. The stock has a market cap of $20.60 billion, a P/E ratio of 47.64, a P/E/G ratio of 1.81 and a beta of 1.06. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.44. The stock’s fifty day moving average is $234.75 and its 200 day moving average is $226.67. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year high of $247.99.

Laboratory Co. of America (NYSE:LH) last released its earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.48 by $0.02. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.26 billion. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.38 EPS. Sell-side analysts anticipate that Laboratory Co. of America Holdings will post 14.51 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The firm also recently declared 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%. Laboratory Co. of America’s dividend payout ratio is presently 55.71%.

Analyst Ratings Changes

LH has been the subject of several research analyst reports. Evercore ISI upgraded 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 report on Tuesday, January 7th. StockNews.com cut Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Morgan Stanley upped their price target on Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Robert W. Baird raised their price objective on Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Finally, Barclays increased their price target on shares of Laboratory Co. of America from $234.00 to $249.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $260.54.

Laboratory Co. of America Company Profile

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