Manning & Napier Advisors LLC Buys 5,543 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Manning & Napier Advisors LLC increased its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 84.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 12,099 shares of the medical research company’s stock after purchasing an additional 5,543 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Laboratory Co. of America were worth $2,775,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of LH. Allspring Global Investments Holdings LLC grew its position in Laboratory Co. of America by 16.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,865,460 shares of the medical research company’s stock worth $416,893,000 after acquiring an additional 263,105 shares during the last quarter. FMR LLC grew its position in shares of Laboratory Co. of America by 17.0% in the 3rd quarter. FMR LLC now owns 1,586,397 shares of the medical research company’s stock worth $354,528,000 after buying an additional 230,708 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Laboratory Co. of America by 9.5% in 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 during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Laboratory Co. of America by 22.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 577,189 shares of the medical research company’s stock worth $128,990,000 after buying an additional 105,443 shares during the last quarter. Finally, River Road Asset Management LLC grew its position in shares of Laboratory Co. of America by 37.8% in the 3rd quarter. River Road Asset Management LLC now owns 284,097 shares of the medical research company’s stock worth $63,490,000 after buying an additional 77,921 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors.

Laboratory Co. of America Stock Up 2.1 %

Shares of NYSE:LH opened at $251.39 on Friday. The stock has a fifty day simple moving average of $235.60 and a two-hundred day simple moving average of $228.09. The stock has a market capitalization of $21.03 billion, a price-to-earnings ratio of 48.62, a PEG ratio of 1.81 and a beta of 1.06. 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 current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66.

Laboratory Co. of America Announces Dividend

The firm also recently announced 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 dividend yield of 1.15%. The ex-dividend date of this dividend is Thursday, February 27th. Laboratory Co. of America’s payout ratio is 55.71%.

Insiders Place Their Bets

In other Laboratory Co. of America news, EVP Glenn A. Eisenberg sold 11,711 shares of Laboratory Co. of America stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $240.43, for a total value of $2,815,675.73. Following the completion of the sale, the executive vice president now owns 31,289 shares of the company’s stock, valued at approximately $7,522,814.27. This trade represents a 27.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kerrii B. Anderson sold 1,000 shares of Laboratory Co. of America stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $235.00, for a total value of $235,000.00. Following the completion of the sale, the director now directly owns 12,722 shares of the company’s stock, valued at $2,989,670. The trade was a 7.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,572 shares of company stock valued at $5,915,209. Corporate insiders own 0.85% of the company’s stock.

Analyst Upgrades and Downgrades

LH has been the topic of a number of recent analyst reports. Evercore ISI upgraded Laboratory Co. of America from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $260.00 to $265.00 in a research report on Tuesday, January 7th. Robert W. Baird lifted their price objective on Laboratory Co. of America from $282.00 to $289.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. StockNews.com lowered Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Hsbc Global Res upgraded Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Finally, HSBC upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Laboratory Co. of America has a consensus rating of “Moderate Buy” and a consensus price target of $261.77.

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.