Securian Asset Management Inc. Has $1.02 Million Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Securian Asset Management Inc. reduced its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 2.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,453 shares of the medical research company’s stock after selling 100 shares during the quarter. Securian Asset Management Inc.’s holdings in Laboratory Co. of America were worth $1,021,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. State Street Corp lifted its holdings in Laboratory Co. of America by 0.7% during the 3rd 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 in the last quarter. Geode Capital Management LLC lifted its holdings in 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 worth $437,561,000 after buying an additional 13,298 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Laboratory Co. of America by 9.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company’s stock worth $431,405,000 after buying an additional 167,137 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Laboratory Co. of America by 2.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,916,505 shares of the medical research company’s stock worth $437,357,000 after buying an additional 51,045 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Laboratory Co. of America by 2.4% during the 4th quarter. Bank of New York Mellon Corp now owns 1,822,964 shares of the medical research company’s stock worth $418,042,000 after buying an additional 41,898 shares in the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Insiders Place Their Bets

In other news, COO Mark S. Schroeder sold 5,339 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $249.23, for a total transaction of $1,330,638.97. Following the completion of the transaction, the chief operating officer now directly owns 4,960 shares in the company, valued at $1,236,180.80. This represents a 51.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kerrii B. Anderson sold 500 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $255.63, for a total transaction of $127,815.00. Following the transaction, the director now owns 13,166 shares of the company’s stock, valued at approximately $3,365,624.58. This represents a 3.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,500 shares of company stock worth $3,577,572. Corporate insiders own 0.85% of the company’s stock.

Laboratory Co. of America Price Performance

LH opened at $239.80 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67. 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 fifty day simple moving average of $244.69 and a 200 day simple moving average of $234.01. The stock has a market cap of $20.07 billion, a P/E ratio of 27.19, a P/E/G ratio of 1.71 and a beta of 1.12.

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

Laboratory Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th were issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend was Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 32.65%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Bank of America upped their price objective on Laboratory Co. of America from $262.00 to $271.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Barclays dropped their target price on shares of Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating for the company in a research report on Friday, February 7th. Piper Sandler upped their target price on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Morgan Stanley upped their target price on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, Jefferies Financial Group upped their target price on shares of 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 analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $268.38.

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.