DnB Asset Management AS Buys 2,113 Shares of Laboratory Co. of America Holdings (NYSE:LH)

DnB Asset Management AS boosted its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 6.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,513 shares of the medical research company’s stock after buying an additional 2,113 shares during the quarter. DnB Asset Management AS’s holdings in Laboratory Co. of America were worth $8,373,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in LH. Graney & King LLC purchased a new position in shares of Laboratory Co. of America during the fourth quarter worth approximately $26,000. Fortitude Family Office LLC increased its holdings in Laboratory Co. of America by 312.5% during 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 during the period. Geneos Wealth Management Inc. raised its position in Laboratory Co. of America by 309.8% during the 4th quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company’s stock valued at $39,000 after purchasing an additional 127 shares in the last quarter. Human Investing LLC bought a new stake in Laboratory Co. of America during the 4th quarter valued at $39,000. Finally, True Wealth Design LLC lifted its holdings in shares of Laboratory Co. of America by 3,660.0% in the 3rd quarter. True Wealth Design LLC now owns 188 shares of the medical research company’s stock worth $42,000 after buying an additional 183 shares during the period. 95.94% of the stock is owned by hedge funds and other institutional investors.

Laboratory Co. of America Stock Down 0.8 %

Shares of LH stock opened at $229.75 on Friday. The stock’s fifty day moving average price is $244.80 and its 200 day moving average price is $234.58. 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 Holdings has a 1-year low of $191.97 and a 1-year high of $258.59. The company has a market cap of $19.23 billion, a price-to-earnings ratio of 26.05, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 earnings per share (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, research analysts expect that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Thursday, February 27th were paid a dividend of $0.72 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $2.88 annualized dividend and a dividend yield of 1.25%. Laboratory Co. of America’s payout ratio is currently 32.65%.

Insider Activity

In related 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CMO Amy B. Summy sold 226 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $250.40, for a total value of $56,590.40. Following the completion of the sale, the chief marketing officer now owns 4,544 shares in the company, valued at approximately $1,137,817.60. This represents a 4.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,500 shares of company stock valued at $3,577,572 over the last ninety days. 0.85% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Piper Sandler raised their price target 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. Bank of America boosted their price target 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. StockNews.com cut shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Saturday. Evercore ISI raised shares of Laboratory Co. of America from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $260.00 to $265.00 in a report on Tuesday, January 7th. Finally, UBS Group lowered their target price on Laboratory Co. of America from $293.00 to $286.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $269.92.

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.