Mn Services Vermogensbeheer B.V. Acquires 700 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Mn Services Vermogensbeheer B.V. boosted its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,298 shares of the medical research company’s stock after purchasing an additional 700 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Laboratory Co. of America were worth $7,636,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in LH. FMR LLC lifted its stake in Laboratory Co. of America by 17.0% in the third quarter. FMR LLC now owns 1,586,397 shares of the medical research company’s stock worth $354,528,000 after purchasing an additional 230,708 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Laboratory Co. of America by 9.5% in 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 last quarter. Massachusetts Financial Services Co. MA lifted its stake in Laboratory Co. of America by 22.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 577,189 shares of the medical research company’s stock worth $128,990,000 after purchasing an additional 105,443 shares during the last quarter. River Road Asset Management LLC lifted its stake in Laboratory Co. of America by 37.8% in the third quarter. River Road Asset Management LLC now owns 284,097 shares of the medical research company’s stock worth $63,490,000 after purchasing an additional 77,921 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in 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 worth $243,321,000 after purchasing an additional 68,974 shares during the last quarter. 95.94% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Glenn A. Eisenberg sold 11,711 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $240.43, for a total transaction of $2,815,675.73. Following the sale, the executive vice president now owns 31,289 shares in the company, valued at $7,522,814.27. This represents a 27.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CMO Amy B. Summy sold 226 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $250.40, for a total transaction of $56,590.40. Following the sale, the chief marketing officer now owns 4,544 shares in the company, valued at approximately $1,137,817.60. The trade was a 4.74 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,372 shares of company stock worth $5,175,793. 0.85% of the stock is currently owned by company insiders.

Laboratory Co. of America Price Performance

Shares of NYSE LH opened at $251.45 on Friday. 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. The company’s 50-day moving average is $241.20 and its 200 day moving average is $232.64. The stock has a market capitalization of $21.03 billion, a P/E ratio of 28.51, a P/E/G ratio of 1.71 and a beta of 1.07.

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 analysts’ consensus estimates 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 expect that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 32.65%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on LH. Morgan Stanley upped their price objective on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. UBS Group lowered their price objective on shares of Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. StockNews.com raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Jefferies Financial Group upped their price objective on shares of 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. Finally, 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 research note on Friday, December 13th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $265.75.

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.