Laboratory Co. of America Holdings (NYSE:LH) Shares Purchased by Natixis Advisors LLC

Natixis Advisors LLC boosted its stake in Laboratory Co. of America Holdings (NYSE:LH) by 9.7% in the 4th quarter, Holdings Channel reports. The firm owned 320,152 shares of the medical research company’s stock after purchasing an additional 28,229 shares during the period. Natixis Advisors LLC’s holdings in Laboratory Co. of America were worth $73,417,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in 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 boosted its holdings in Laboratory Co. of America by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,964,743 shares of the medical research company’s stock valued at $437,561,000 after purchasing an additional 13,298 shares during the period. JPMorgan Chase & Co. grew its stake 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 purchasing an additional 167,137 shares in the last quarter. Allspring Global Investments Holdings LLC increased 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 purchasing an additional 51,045 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Laboratory Co. of America by 2.4% in the 4th quarter. Bank of New York Mellon Corp now owns 1,822,964 shares of the medical research company’s stock valued at $418,042,000 after buying an additional 41,898 shares during the period. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Barclays cut their target price on shares of Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating on the stock in a research note on Friday, February 7th. 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 company from $260.00 to $265.00 in a report on Tuesday, January 7th. StockNews.com raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Morgan Stanley lifted their price target on Laboratory Co. of America from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, Citigroup upgraded Laboratory Co. of America from a “neutral” rating to a “buy” rating and increased their price objective for the company from $250.00 to $300.00 in a report on Tuesday, March 4th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $268.38.

Insider Activity

In other news, Director Kerrii B. Anderson sold 1,000 shares of the firm’s stock in a transaction that occurred 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. This trade represents a 7.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Amy B. Summy sold 226 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $250.40, for a total value of $56,590.40. Following the transaction, the chief marketing officer now directly owns 4,544 shares in the company, valued at $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 a total of 14,500 shares of company stock valued at $3,577,572 over the last quarter. Corporate insiders own 0.85% of the company’s stock.

Laboratory Co. of America Trading Up 1.8 %

NYSE LH opened at $239.80 on Friday. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year high of $258.59. The firm has a market cap of $20.07 billion, a PE ratio of 27.19, a P/E/G ratio of 1.71 and a beta of 1.12. The firm’s fifty day moving average is $244.69 and its two-hundred day moving average is $234.04. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, beating the consensus estimate of $3.40 by $0.05. Laboratory Co. of America had a return on equity of 15.29% and a net margin of 5.73%. Analysts expect that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

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

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.